Employees Retirement System of Texas Raises Holdings in AT&T Inc. $T

by · The Cerbat Gem

Employees Retirement System of Texas increased its position in AT&T Inc. (NYSE:T – Free Report) by 7.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 877,572 shares of the technology company’s stock after acquiring an additional 58,113 shares during the quarter. Employees Retirement System of Texas’ holdings in AT&T were worth $25,397,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in T. Vanguard Group Inc. increased its stake in shares of AT&T by 1.6% in the second quarter. Vanguard Group Inc. now owns 661,355,210 shares of the technology company’s stock worth $19,139,620,000 after purchasing an additional 10,310,560 shares in the last quarter. Kingstone Capital Partners Texas LLC bought a new position in AT&T in the 2nd quarter worth approximately $5,266,758,000. Geode Capital Management LLC grew its stake in AT&T by 1.2% in the 2nd quarter. Geode Capital Management LLC now owns 172,039,872 shares of the technology company’s stock valued at $4,958,066,000 after buying an additional 2,066,026 shares in the last quarter. GQG Partners LLC raised its holdings in AT&T by 17.7% during the 1st quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock valued at $3,222,711,000 after acquiring an additional 17,177,874 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in AT&T by 3.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 55,216,190 shares of the technology company’s stock valued at $1,561,514,000 after acquiring an additional 1,783,363 shares during the period. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on T shares. Williams Trading set a $33.00 price target on AT&T in a report on Thursday, October 23rd. Sanford C. Bernstein raised their target price on AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, September 4th. Wells Fargo & Company decreased their price target on AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a research report on Thursday, October 16th. KeyCorp upgraded shares of AT&T from a “sector weight” rating to an “overweight” rating and set a $30.00 price objective for the company in a research report on Tuesday, November 11th. Finally, Cowen reaffirmed a “hold” rating on shares of AT&T in a research note on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $30.64.

Get Our Latest Research Report on T

AT&T Stock Up 0.8%

Shares of NYSE T opened at $25.82 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 1.01. The business has a 50-day moving average of $26.22 and a 200-day moving average of $27.45. The firm has a market capitalization of $183.04 billion, a price-to-earnings ratio of 8.38, a PEG ratio of 2.16 and a beta of 0.40. AT&T Inc. has a 12 month low of $21.38 and a 12 month high of $29.79.

AT&T (NYSE:T – Get Free Report) last announced its earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.54. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The business had revenue of $30.71 billion for the quarter, compared to the consensus estimate of $30.85 billion. During the same period last year, the firm posted $0.60 earnings per share. AT&T’s quarterly revenue was up 1.7% on a year-over-year basis. Sell-side analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Friday, October 10th were issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend was Friday, October 10th. AT&T’s payout ratio is currently 36.04%.

AT&T Company Profile

(Free Report)

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.

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