AT&T Inc. (NYSE:T) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp lowered its position in AT&T Inc. (NYSE:T) by 19.6% in the second quarter, Holdings Channel.com reports. The institutional investor owned 1,188,143 shares of the technology company’s stock after selling 289,916 shares during the period. Texas Permanent School Fund Corp’s holdings in AT&T were worth $22,705,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in AT&T by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock valued at $10,999,912,000 after buying an additional 2,588,539 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of AT&T by 7.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock valued at $1,549,375,000 after purchasing an additional 5,592,123 shares in the last quarter. Norges Bank acquired a new stake in shares of AT&T in the fourth quarter valued at about $1,118,288,000. LSV Asset Management lifted its position in shares of AT&T by 1.1% during the 2nd quarter. LSV Asset Management now owns 30,092,610 shares of the technology company’s stock valued at $575,070,000 after acquiring an additional 315,580 shares during the period. Finally, Thornburg Investment Management Inc. increased its stake in AT&T by 8.6% in the 1st quarter. Thornburg Investment Management Inc. now owns 20,476,671 shares of the technology company’s stock valued at $360,389,000 after purchasing an additional 1,616,598 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on T. UBS Group reissued a “buy” rating and issued a $24.00 target price on shares of AT&T in a report on Tuesday, June 18th. Moffett Nathanson raised their target price on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. The Goldman Sachs Group began coverage on shares of AT&T in a research note on Monday, July 1st. They set a “buy” rating and a $22.00 price objective for the company. Finally, TD Cowen upped their target price on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $22.06.

AT&T Trading Up 0.3 %

Shares of T traded up $0.07 during trading hours on Monday, hitting $21.04. The stock had a trading volume of 5,329,993 shares, compared to its average volume of 35,671,055. The firm has a market cap of $150.86 billion, a P/E ratio of 11.27, a P/E/G ratio of 3.57 and a beta of 0.59. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. The company’s fifty day simple moving average is $19.31 and its 200 day simple moving average is $18.02. AT&T Inc. has a 12-month low of $14.12 and a 12-month high of $21.12.

AT&T (NYSE:T) last posted its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The firm had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. During the same quarter in the prior year, the company earned $0.63 EPS. The company’s revenue was down .3% on a year-over-year basis. Equities research analysts forecast that AT&T Inc. will post 2.2 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were given a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 5.28%. The ex-dividend date was Wednesday, July 10th. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

About AT&T

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.