New York State Teachers Retirement System Sells 235,644 Shares of AT&T Inc. (NYSE:T)

New York State Teachers Retirement System reduced its holdings in shares of AT&T Inc. (NYSE:T) by 3.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,862,072 shares of the technology company’s stock after selling 235,644 shares during the quarter. New York State Teachers Retirement System owned approximately 0.10% of AT&T worth $156,249,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Northeast Investment Management grew its stake in shares of AT&T by 0.9% in the fourth quarter. Northeast Investment Management now owns 51,198 shares of the technology company’s stock valued at $1,166,000 after buying an additional 451 shares in the last quarter. Chesapeake Wealth Management grew its stake in shares of AT&T by 1.9% in the third quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock valued at $535,000 after buying an additional 460 shares in the last quarter. Luts & Greenleigh Group Inc. grew its stake in shares of AT&T by 2.8% in the fourth quarter. Luts & Greenleigh Group Inc. now owns 16,905 shares of the technology company’s stock valued at $385,000 after buying an additional 460 shares in the last quarter. Socha Financial Group LLC grew its stake in shares of AT&T by 2.5% in the third quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock valued at $415,000 after buying an additional 461 shares in the last quarter. Finally, Garden State Investment Advisory Services LLC grew its stake in shares of AT&T by 1.4% in the third quarter. Garden State Investment Advisory Services LLC now owns 34,468 shares of the technology company’s stock valued at $759,000 after buying an additional 468 shares in the last quarter. 57.10% of the stock is owned by institutional investors.

AT&T Stock Up 1.0 %

T stock opened at $25.63 on Friday. The company has a market cap of $183.87 billion, a PE ratio of 17.20, a price-to-earnings-growth ratio of 2.79 and a beta of 0.59. The business has a 50-day simple moving average of $23.15 and a 200 day simple moving average of $21.96. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $25.74. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00.

AT&T (NYSE:T) last released its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. Sell-side analysts anticipate that AT&T Inc. will post 2.15 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date was Friday, January 10th. AT&T’s dividend payout ratio is presently 74.50%.

Analyst Upgrades and Downgrades

T has been the subject of several research reports. Sanford C. Bernstein raised their price target on AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Royal Bank of Canada raised their price target on AT&T from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Tigress Financial raised their price target on AT&T from $30.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. BNP Paribas raised AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price target for the company in a report on Thursday. Finally, Argus raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $26.33.

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.