AT&T Inc. (NYSE:T) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lowered its stake in AT&T Inc. (NYSE:T) by 7.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,037,026 shares of the technology company’s stock after selling 79,660 shares during the period. State of Alaska Department of Revenue’s holdings in AT&T were worth $18,250,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cantor Fitzgerald Investment Advisors L.P. acquired a new stake in AT&T in the fourth quarter valued at approximately $11,554,000. Provence Wealth Management Group raised its holdings in shares of AT&T by 55.8% in the 4th quarter. Provence Wealth Management Group now owns 16,217 shares of the technology company’s stock valued at $272,000 after purchasing an additional 5,807 shares in the last quarter. Clearbridge Investments LLC lifted its position in shares of AT&T by 250.3% during the 4th quarter. Clearbridge Investments LLC now owns 67,303 shares of the technology company’s stock worth $1,129,000 after purchasing an additional 48,091 shares during the last quarter. Retireful LLC acquired a new position in shares of AT&T during the fourth quarter worth $1,163,000. Finally, Brighton Jones LLC increased its holdings in AT&T by 12.6% in the fourth quarter. Brighton Jones LLC now owns 46,265 shares of the technology company’s stock valued at $776,000 after buying an additional 5,161 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

Shares of T traded down $0.15 during mid-day trading on Wednesday, hitting $18.67. 19,462,929 shares of the company’s stock were exchanged, compared to its average volume of 36,718,398. The firm has a market capitalization of $133.87 billion, a P/E ratio of 10.13, a P/E/G ratio of 4.34 and a beta of 0.58. AT&T Inc. has a fifty-two week low of $13.43 and a fifty-two week high of $19.32. The business’s 50 day moving average is $17.67 and its two-hundred day moving average is $17.21. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.06.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The company had revenue of $30.03 billion during the quarter, compared to analysts’ expectations of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The firm’s revenue for the quarter was down .4% on a year-over-year basis. During the same period last year, the firm earned $0.60 EPS. On average, equities analysts expect that AT&T Inc. will post 2.24 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be given a $0.2775 dividend. The ex-dividend date is Wednesday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.95%. AT&T’s dividend payout ratio (DPR) is 59.68%.

Analysts Set New Price Targets

A number of brokerages have issued reports on T. BNP Paribas raised AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. Barclays upgraded AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 target price for the company in a research note on Monday, April 29th. Deutsche Bank Aktiengesellschaft increased their price target on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Oppenheimer restated an “outperform” rating and set a $21.00 price objective on shares of AT&T in a research report on Tuesday, June 25th. Finally, UBS Group reaffirmed a “buy” rating and issued a $24.00 target price on shares of AT&T in a research report on Tuesday, June 18th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, AT&T presently has an average rating of “Moderate Buy” and a consensus price target of $21.73.

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.