Public Employees Retirement Association of Colorado Sells 48,564 Shares of AT&T Inc. (NYSE:T)

Public Employees Retirement Association of Colorado decreased its holdings in shares of AT&T Inc. (NYSE:T) by 4.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,013,991 shares of the technology company’s stock after selling 48,564 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in AT&T were worth $17,846,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of T. Frank Rimerman Advisors LLC bought a new position in shares of AT&T during the fourth quarter valued at approximately $25,000. Pineridge Advisors LLC bought a new position in AT&T in the fourth quarter worth approximately $25,000. First Pacific Financial grew its stake in AT&T by 166.7% in the first quarter. First Pacific Financial now owns 1,600 shares of the technology company’s stock worth $28,000 after purchasing an additional 1,000 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA grew its stake in AT&T by 35.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock worth $39,000 after purchasing an additional 606 shares in the last quarter. Finally, Western Pacific Wealth Management LP bought a new position in AT&T in the fourth quarter worth approximately $39,000. Institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on T. TD Cowen increased their price objective on AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research note on Thursday. Royal Bank of Canada increased their price objective on AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research note on Thursday. Oppenheimer increased their price objective on AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft increased their price objective on AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Finally, JPMorgan Chase & Co. upped their target price on AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, AT&T has an average rating of “Moderate Buy” and an average target price of $22.33.

AT&T Stock Down 0.6 %

Shares of T traded down $0.11 during midday trading on Monday, hitting $18.90. 18,046,709 shares of the company’s stock traded hands, compared to its average volume of 36,700,305. AT&T Inc. has a 1 year low of $13.89 and a 1 year high of $19.74. The firm’s fifty day moving average is $18.32 and its 200-day moving average is $17.47. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $135.52 billion, a price-to-earnings ratio of 10.17, a price-to-earnings-growth ratio of 3.22 and a beta of 0.58.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, meeting the consensus estimate of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The firm had revenue of $29.80 billion during the quarter, compared to analyst estimates of $30.05 billion. During the same quarter in the prior year, the business posted $0.63 EPS. The business’s revenue for the quarter was down .3% compared to the same quarter last year. As a group, sell-side analysts anticipate that AT&T Inc. will post 2.21 earnings per share for the current year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be paid a $0.2775 dividend. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.87%. AT&T’s dividend payout ratio (DPR) is 59.68%.

AT&T Company Profile

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.