New York State Teachers Retirement System Has $156.15 Million Stake in AT&T Inc. (NYSE:T)

New York State Teachers Retirement System lowered its holdings in AT&T Inc. (NYSE:T) by 3.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 7,097,716 shares of the technology company’s stock after selling 233,800 shares during the quarter. New York State Teachers Retirement System’s holdings in AT&T were worth $156,150,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Davidson Kempner Capital Management LP purchased a new position in shares of AT&T during the second quarter valued at approximately $23,888,000. Talbot Financial LLC bought a new stake in shares of AT&T in the 3rd quarter worth $7,438,000. Mackenzie Financial Corp lifted its position in shares of AT&T by 12.2% during the second quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock valued at $50,486,000 after purchasing an additional 288,093 shares in the last quarter. DRW Securities LLC lifted its position in shares of AT&T by 642.2% during the second quarter. DRW Securities LLC now owns 104,309 shares of the technology company’s stock valued at $1,997,000 after purchasing an additional 90,255 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in AT&T by 4.3% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 1,037,529 shares of the technology company’s stock worth $19,827,000 after purchasing an additional 43,062 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

Shares of NYSE T traded down $0.10 during midday trading on Wednesday, hitting $22.08. The company’s stock had a trading volume of 3,486,834 shares, compared to its average volume of 35,509,238. The firm has a market capitalization of $158.32 billion, a price-to-earnings ratio of 18.03, a P/E/G ratio of 3.74 and a beta of 0.60. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The stock has a fifty day moving average price of $21.31 and a 200 day moving average price of $19.23. AT&T Inc. has a one year low of $15.25 and a one year high of $22.58.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The business had revenue of $30.20 billion during the quarter, compared to analyst estimates of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. AT&T’s revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.64 EPS. On average, research analysts forecast that AT&T Inc. will post 2.21 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be paid a $0.2775 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.11 annualized dividend and a yield of 5.03%. AT&T’s dividend payout ratio is currently 90.24%.

Analyst Ratings Changes

Several research firms have commented on T. Scotiabank cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Royal Bank of Canada reiterated a “sector perform” rating and set a $22.00 price target on shares of AT&T in a report on Thursday, October 24th. Wells Fargo & Company reduced their price objective on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Tigress Financial lifted their target price on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Finally, TD Cowen boosted their price target on shares of AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $23.40.

AT&T 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.