Kentucky Retirement Systems Sells 6,787 Shares of AT&T Inc. (NYSE:T)

Kentucky Retirement Systems reduced its holdings in shares of AT&T Inc. (NYSE:T) by 1.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 492,731 shares of the technology company’s stock after selling 6,787 shares during the quarter. Kentucky Retirement Systems’ holdings in AT&T were worth $11,219,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new stake in shares of AT&T in the 3rd quarter valued at approximately $25,000. Ritter Daniher Financial Advisory LLC DE lifted its holdings in shares of AT&T by 169.2% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after buying an additional 841 shares in the last quarter. YANKCOM Partnership bought a new position in shares of AT&T in the fourth quarter worth $30,000. Endeavor Private Wealth Inc. bought a new position in shares of AT&T in the fourth quarter worth $34,000. Finally, Reston Wealth Management LLC bought a new position in shares of AT&T in the third quarter worth $35,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Evercore ISI lifted their target price on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research report on Thursday, October 24th. BNP Paribas upgraded AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price target on the stock in a report on Thursday, February 13th. Oppenheimer started coverage on AT&T in a report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price target on the stock. Sanford C. Bernstein boosted their price target on AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Finally, Argus upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, AT&T presently has an average rating of “Moderate Buy” and an average target price of $26.33.

AT&T Trading Down 0.2 %

Shares of AT&T stock opened at $26.18 on Friday. The stock has a fifty day simple moving average of $23.44 and a 200 day simple moving average of $22.23. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $26.35. The company has a market capitalization of $187.95 billion, a P/E ratio of 17.57, a price-to-earnings-growth ratio of 3.01 and a beta of 0.59. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00.

AT&T (NYSE:T) last announced its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. On average, sell-side analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.24%. AT&T’s dividend payout ratio is presently 74.50%.

About AT&T

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.