State of Alaska Department of Revenue Lowers Stake in AT&T Inc. (NYSE:T)

State of Alaska Department of Revenue reduced its stake in AT&T Inc. (NYSE:T) by 1.5% during the fourth quarter, HoldingsChannel reports. The fund owned 948,214 shares of the technology company’s stock after selling 14,895 shares during the period. State of Alaska Department of Revenue’s holdings in AT&T were worth $21,590,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Geode Capital Management LLC raised its holdings in AT&T by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock worth $3,532,684,000 after acquiring an additional 3,630,972 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of AT&T by 41.4% during the third quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock valued at $168,969,000 after purchasing an additional 2,326,904 shares in the last quarter. National Pension Service boosted its position in shares of AT&T by 15.8% during the third quarter. National Pension Service now owns 15,769,707 shares of the technology company’s stock valued at $346,934,000 after buying an additional 2,152,016 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in AT&T by 112.9% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,916,698 shares of the technology company’s stock worth $64,167,000 after buying an additional 1,546,679 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in AT&T by 7.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 17,218,490 shares of the technology company’s stock worth $378,807,000 after buying an additional 1,206,330 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Morgan Stanley raised shares of AT&T from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $19.00 to $28.00 in a report on Monday, December 16th. Wells Fargo & Company decreased their target price on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Royal Bank of Canada raised their price target on AT&T from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Evercore ISI upped their price objective on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research report on Thursday, October 24th. Finally, Tigress Financial raised their target price on AT&T from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and an average price target of $26.21.

AT&T Stock Up 0.9 %

NYSE T opened at $24.48 on Thursday. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $24.98. 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 stock has a market cap of $175.63 billion, a PE ratio of 16.43, a P/E/G ratio of 2.71 and a beta of 0.59. The stock’s 50 day moving average is $22.97 and its 200 day moving average is $21.73.

AT&T (NYSE:T) last released its earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. Research analysts predict that AT&T Inc. will post 2.15 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.53%. The ex-dividend date was Friday, January 10th. AT&T’s dividend payout ratio (DPR) is presently 74.50%.

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.