Kentucky Retirement Systems Insurance Trust Fund Has $4.67 Million Position in AT&T Inc. (NYSE:T)

Kentucky Retirement Systems Insurance Trust Fund lessened its holdings in AT&T Inc. (NYSE:T) by 8.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 212,292 shares of the technology company’s stock after selling 18,975 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in AT&T were worth $4,670,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp increased its position in shares of AT&T by 7.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock worth $1,549,375,000 after purchasing an additional 5,592,123 shares in the last quarter. Legal & General Group Plc grew its stake in AT&T by 2.7% during the second quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock worth $1,148,689,000 after buying an additional 1,569,374 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of AT&T by 2.0% during the second quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock worth $985,307,000 after buying an additional 1,007,228 shares in the last quarter. LSV Asset Management increased its holdings in shares of AT&T by 1.1% during the second quarter. LSV Asset Management now owns 30,092,610 shares of the technology company’s stock worth $575,070,000 after buying an additional 315,580 shares in the last quarter. Finally, Pacer Advisors Inc. raised its stake in shares of AT&T by 2.5% in the second quarter. Pacer Advisors Inc. now owns 28,113,880 shares of the technology company’s stock valued at $537,256,000 after acquiring an additional 675,082 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Royal Bank of Canada restated a “sector perform” rating and set a $22.00 price target on shares of AT&T in a research report on Thursday, October 24th. TD Cowen raised their target price on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Evercore ISI increased their price objective on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a report on Thursday, October 24th. Daiwa America upgraded shares of AT&T to a “hold” rating in a research report on Friday, July 26th. Finally, Tigress Financial lifted their price objective on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $23.40.

AT&T Stock Performance

Shares of T opened at $22.69 on Friday. The firm has a market cap of $162.81 billion, a P/E ratio of 18.45, a PEG ratio of 3.35 and a beta of 0.59. AT&T Inc. has a twelve month low of $15.75 and a twelve month high of $22.75. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The firm’s 50 day moving average price is $21.89 and its two-hundred day moving average price is $19.71.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. The business had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The firm’s revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.64 EPS. On average, analysts forecast that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s dividend payout ratio is presently 90.24%.

About AT&T

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.