Employees Retirement System of Texas Increases Position in AT&T Inc. (NYSE:T)

Employees Retirement System of Texas increased its holdings in shares of AT&T Inc. (NYSE:T) by 7.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,304,302 shares of the technology company’s stock after acquiring an additional 93,802 shares during the period. Employees Retirement System of Texas’ holdings in AT&T were worth $29,699,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Legacy Investment Solutions LLC bought a new stake in AT&T during the 3rd quarter valued at $25,000. Marshall Investment Management LLC purchased a new stake in shares of AT&T during the 4th quarter worth $28,000. YANKCOM Partnership purchased a new position in AT&T in the fourth quarter valued at about $30,000. Tradewinds Capital Management LLC lifted its position in shares of AT&T by 48.6% during the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock valued at $30,000 after buying an additional 430 shares during the last quarter. Finally, Endeavor Private Wealth Inc. bought a new position in shares of AT&T during the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

T has been the subject of several analyst reports. Citigroup increased their price objective on AT&T from $28.00 to $32.00 and gave the company a “buy” rating in a report on Monday, March 31st. Oppenheimer raised their target price on AT&T from $27.00 to $32.00 and gave the stock an “outperform” rating in a report on Tuesday, April 1st. 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. BNP Paribas raised AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price objective on the stock in a report on Thursday, February 13th. Finally, DZ Bank upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, AT&T currently has an average rating of “Moderate Buy” and an average target price of $27.21.

AT&T Price Performance

T stock opened at $26.65 on Monday. The company has a market capitalization of $191.27 billion, a PE ratio of 17.88, a P/E/G ratio of 3.00 and a beta of 0.42. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The business’s fifty day moving average price is $26.26 and its 200 day moving average price is $23.76. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $29.03.

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, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. On average, sell-side analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.17%. The ex-dividend date of this dividend is Thursday, April 10th. AT&T’s dividend payout ratio (DPR) is presently 74.50%.

AT&T Profile

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.