Teachers Retirement System of The State of Kentucky Sells 30,668 Shares of AT&T Inc. (NYSE:T)

Teachers Retirement System of The State of Kentucky cut its stake in AT&T Inc. (NYSE:T) by 5.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 584,339 shares of the technology company’s stock after selling 30,668 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in AT&T were worth $10,284,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of T. Pineridge Advisors LLC bought a new stake in shares of AT&T during the fourth quarter worth approximately $25,000. Frank Rimerman Advisors LLC bought a new stake in shares of AT&T during the fourth quarter worth approximately $25,000. First Pacific Financial raised its stake in shares of AT&T by 166.7% during the first quarter. First Pacific Financial now owns 1,600 shares of the technology company’s stock worth $28,000 after buying an additional 1,000 shares during the last quarter. HighMark Wealth Management LLC raised its stake in shares of AT&T by 58.2% during the first quarter. HighMark Wealth Management LLC now owns 2,204 shares of the technology company’s stock worth $41,000 after buying an additional 811 shares during the last quarter. Finally, ESL Trust Services LLC acquired a new position in AT&T during the first quarter valued at approximately $39,000. 57.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

T has been the subject of a number of analyst reports. Daiwa America upgraded shares of AT&T to a “hold” rating in a report on Friday, July 26th. Evercore ISI boosted their price objective on shares of AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a report on Thursday, July 25th. StockNews.com cut shares of AT&T from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. Royal Bank of Canada upped their price target on shares of AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. Finally, Barclays upped their price target on shares of AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $22.33.

AT&T Stock Performance

NYSE:T traded down $0.10 during mid-day trading on Friday, reaching $19.37. 45,240,116 shares of the company’s stock were exchanged, compared to its average volume of 37,305,292. AT&T Inc. has a one year low of $13.89 and a one year high of $19.99. The firm has a market capitalization of $138.89 billion, a PE ratio of 10.41, a price-to-earnings-growth ratio of 3.28 and a beta of 0.58. The business’s fifty day simple moving average is $18.49 and its two-hundred day simple moving average is $17.56. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 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 business had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. During the same period last year, the firm earned $0.63 earnings per share. AT&T’s revenue for the quarter was down .3% compared to the same quarter last year. Analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were paid a dividend of $0.2775 per share. The ex-dividend date was Wednesday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.73%. AT&T’s payout ratio 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.