California Public Employees Retirement System Has $574.28 Million Holdings in AT&T Inc. (NYSE:T)

California Public Employees Retirement System decreased its holdings in shares of AT&T Inc. (NYSE:T) by 14.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,220,919 shares of the technology company’s stock after selling 4,240,441 shares during the quarter. California Public Employees Retirement System owned approximately 0.35% of AT&T worth $574,280,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Charter Research & Investment Group Inc. boosted its holdings in shares of AT&T by 4.9% in the 4th quarter. Charter Research & Investment Group Inc. now owns 43,234 shares of the technology company’s stock valued at $984,000 after buying an additional 2,024 shares during the last quarter. Schroder Investment Management Group lifted its stake in AT&T by 66.2% in the fourth quarter. Schroder Investment Management Group now owns 5,285,236 shares of the technology company’s stock valued at $120,345,000 after acquiring an additional 2,104,603 shares during the last quarter. L & S Advisors Inc bought a new position in shares of AT&T in the 4th quarter valued at about $3,552,000. Allianz SE acquired a new position in shares of AT&T during the 4th quarter worth about $7,683,000. Finally, Intrust Bank NA raised its holdings in shares of AT&T by 3.5% in the 4th quarter. Intrust Bank NA now owns 153,663 shares of the technology company’s stock valued at $3,499,000 after purchasing an additional 5,258 shares during the period. Institutional investors own 57.10% of the company’s stock.

AT&T Trading Down 0.0 %

Shares of T opened at $28.20 on Friday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $28.51. The firm has a market cap of $202.40 billion, a price-to-earnings ratio of 18.92, a PEG ratio of 3.00 and a beta of 0.56. The business’s fifty day moving average is $25.70 and its 200-day moving average is $23.53.

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%. Equities analysts anticipate that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders 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 dividend yield of 3.94%. AT&T’s dividend payout ratio (DPR) is presently 74.50%.

Wall Street Analyst Weigh In

T has been the topic of a number of recent analyst reports. Oppenheimer started coverage on AT&T in a report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 target price on the stock. Scotiabank increased their price objective on shares of AT&T from $26.00 to $28.50 and gave the company a “sector outperform” rating in a research report on Monday, March 3rd. The Goldman Sachs Group lifted their target price on shares of AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. JPMorgan Chase & Co. increased their price target on shares of AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Tigress Financial upped their target price on AT&T from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.79.

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.