New Mexico Educational Retirement Board Sells 6,500 Shares of AT&T Inc. (NYSE:T)

New Mexico Educational Retirement Board cut its stake in shares of AT&T Inc. (NYSE:T) by 1.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 335,362 shares of the technology company’s stock after selling 6,500 shares during the quarter. New Mexico Educational Retirement Board’s holdings in AT&T were worth $9,484,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Court Place Advisors LLC grew its holdings in shares of AT&T by 1.8% during the 1st quarter. Court Place Advisors LLC now owns 23,876 shares of the technology company’s stock valued at $675,000 after purchasing an additional 430 shares during the last quarter. Rehmann Capital Advisory Group grew its holdings in shares of AT&T by 5.8% during the 1st quarter. Rehmann Capital Advisory Group now owns 51,549 shares of the technology company’s stock valued at $1,458,000 after purchasing an additional 2,823 shares during the last quarter. Cornerstone Planning Group LLC grew its holdings in shares of AT&T by 100.4% during the 1st quarter. Cornerstone Planning Group LLC now owns 11,109 shares of the technology company’s stock valued at $302,000 after purchasing an additional 5,565 shares during the last quarter. Principal Securities Inc. grew its holdings in shares of AT&T by 0.5% during the 1st quarter. Principal Securities Inc. now owns 134,350 shares of the technology company’s stock valued at $3,799,000 after purchasing an additional 662 shares during the last quarter. Finally, First National Bank & Trust Co. of Newtown grew its holdings in shares of AT&T by 1.7% during the 1st quarter. First National Bank & Trust Co. of Newtown now owns 55,437 shares of the technology company’s stock valued at $1,567,000 after purchasing an additional 924 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

AT&T Stock Down 0.4%

AT&T stock opened at $28.30 on Wednesday. The company has a quick ratio of 0.65, a current ratio of 0.70 and a debt-to-equity ratio of 0.98. AT&T Inc. has a 12-month low of $18.14 and a 12-month high of $29.19. The firm’s fifty day moving average is $27.83 and its 200 day moving average is $26.23. The company has a market capitalization of $203.64 billion, a PE ratio of 17.36, a PEG ratio of 4.67 and a beta of 0.42.

AT&T (NYSE:T) last released its earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). AT&T had a net margin of 9.64% and a return on equity of 13.63%. The company had revenue of $30.63 billion for the quarter, compared to analyst estimates of $30.39 billion. During the same quarter in the previous year, the firm earned $0.55 EPS. The firm’s revenue was up 2.0% on a year-over-year basis. As a group, sell-side analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be paid a $0.2775 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 3.92%. AT&T’s dividend payout ratio is presently 68.10%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on T shares. Oppenheimer lifted their price target on shares of AT&T from $27.00 to $32.00 and gave the company an “outperform” rating in a report on Tuesday, April 1st. Williams Trading set a $30.00 price target on shares of AT&T in a research report on Thursday, April 24th. Bank of America assumed coverage on shares of AT&T in a research report on Monday. They issued a “buy” rating and a $32.00 price target for the company. TD Securities upped their price target on shares of AT&T from $29.00 to $30.00 and gave the company a “hold” rating in a research report on Thursday, April 24th. Finally, Barclays raised their target price on AT&T from $27.00 to $30.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and a consensus price target of $29.05.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.