California Public Employees Retirement System Has $574.74 Million Position in AT&T Inc. $T

California Public Employees Retirement System cut its position in AT&T Inc. (NYSE:T) by 10.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,859,521 shares of the technology company’s stock after selling 2,330,877 shares during the period. California Public Employees Retirement System owned 0.28% of AT&T worth $574,735,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of T. Kingstone Capital Partners Texas LLC bought a new position in AT&T in the 2nd quarter worth approximately $5,266,758,000. Norges Bank acquired a new stake in AT&T in the second quarter worth about $2,228,655,000. Nuveen LLC bought a new position in shares of AT&T in the 1st quarter valued at about $1,072,128,000. GQG Partners LLC grew its position in shares of AT&T by 17.7% during the 1st quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock worth $3,222,711,000 after buying an additional 17,177,874 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of AT&T by 1.6% during the second quarter. Vanguard Group Inc. now owns 661,355,210 shares of the technology company’s stock worth $19,139,620,000 after buying an additional 10,310,560 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Down 0.5%

NYSE:T opened at $25.28 on Friday. AT&T Inc. has a 1 year low of $21.38 and a 1 year high of $29.79. The stock has a 50-day moving average price of $25.71 and a two-hundred day moving average price of $27.36. The stock has a market cap of $179.19 billion, a price-to-earnings ratio of 8.21, a PEG ratio of 1.48 and a beta of 0.38. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 EPS for the quarter, hitting analysts’ consensus estimates of $0.54. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The company had revenue of $30.71 billion for the quarter, compared to analyst estimates of $30.85 billion. During the same quarter last year, the firm posted $0.60 earnings per share. AT&T’s revenue was up 1.7% compared to the same quarter last year. As a group, equities analysts expect that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Friday, October 10th were paid a $0.2775 dividend. The ex-dividend date of this dividend was Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.4%. AT&T’s payout ratio is presently 36.04%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. The Goldman Sachs Group initiated coverage on shares of AT&T in a research note on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 price objective on the stock. Cowen restated a “hold” rating on shares of AT&T in a research report on Thursday, October 23rd. Barclays decreased their price objective on AT&T from $30.00 to $28.00 and set an “equal weight” rating for the company in a research note on Thursday, October 23rd. KeyCorp upgraded AT&T from a “sector weight” rating to an “overweight” rating and set a $30.00 target price on the stock in a report on Tuesday, November 11th. Finally, Raymond James Financial restated a “strong-buy” rating and set a $33.00 target price (up from $31.00) on shares of AT&T in a research report on Thursday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $30.64.

AT&T Company Profile

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.