IBM Retirement Fund Buys 13,012 Shares of AT&T Inc. (T)
IBM Retirement Fund increased its position in shares of AT&T Inc. (NYSE:T) by 1.6% during the second quarter, Holdings Channel reports. The fund owned 809,690 shares of the company’s stock after buying an additional 13,012 shares during the period. AT&T accounts for 1.3% of IBM Retirement Fund’s portfolio, making the stock its 9th largest position. IBM Retirement Fund’s holdings in AT&T were worth $36,043,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of the stock. BlackRock Institutional Trust Company N.A. raised its position in shares of AT&T by 0.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 162,390,830 shares of the company’s stock worth $6,360,849,000 after buying an additional 656,641 shares during the period. BlackRock Fund Advisors raised its position in shares of AT&T by 1.8% in the first quarter. BlackRock Fund Advisors now owns 79,579,666 shares of the company’s stock worth $3,117,136,000 after buying an additional 1,417,502 shares during the period. Geode Capital Management LLC raised its position in shares of AT&T by 1.9% in the first quarter. Geode Capital Management LLC now owns 51,931,393 shares of the company’s stock worth $2,030,190,000 after buying an additional 971,072 shares during the period. Nordea Investment Management AB raised its position in shares of AT&T by 2.5% in the second quarter. Nordea Investment Management AB now owns 25,459,807 shares of the company’s stock worth $1,100,118,000 after buying an additional 623,365 shares during the period. Finally, TIAA CREF Investment Management LLC raised its position in shares of AT&T by 12.8% in the first quarter. TIAA CREF Investment Management LLC now owns 24,011,256 shares of the company’s stock worth $940,521,000 after buying an additional 2,733,411 shares during the period. Institutional investors own 53.64% of the company’s stock.
Shares of AT&T Inc. (NYSE:T) traded down 0.38% on Friday, reaching $39.22. The company’s stock had a trading volume of 13,516,996 shares. The firm has a market cap of $241.28 billion, a price-to-earnings ratio of 16.91 and a beta of 0.30. The company’s 50 day moving average is $40.33 and its 200-day moving average is $40.51. AT&T Inc. has a 1-year low of $32.22 and a 1-year high of $43.89.
AT&T (NYSE:T) last announced its quarterly earnings results on Thursday, July 21st. The company reported $0.72 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.72. AT&T had a return on equity of 13.93% and a net margin of 8.76%. The company earned $40.50 billion during the quarter, compared to the consensus estimate of $40.75 billion. Equities research analysts expect that AT&T Inc. will post $2.86 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Monday, October 10th will be issued a dividend of $0.48 per share. The ex-dividend date is Wednesday, October 5th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.90%. AT&T’s payout ratio is presently 83.12%.
A number of research analysts have recently commented on T shares. Zacks Investment Research raised AT&T from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a report on Wednesday, June 29th. Deutsche Bank AG lifted their target price on AT&T from $41.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, June 28th. Barclays PLC assumed coverage on AT&T in a report on Monday, June 27th. They set a “buy” rating on the stock. Jefferies Group reaffirmed a “buy” rating and set a $44.00 target price on shares of AT&T in a report on Thursday, July 21st. Finally, Wells Fargo & Co. reaffirmed a “buy” rating on shares of AT&T in a report on Friday, July 22nd. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $41.86.
In related news, CEO John T. Stankey sold 2,131 shares of the stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $43.38, for a total transaction of $92,442.78. Following the completion of the transaction, the chief executive officer now directly owns 13,583 shares in the company, valued at $589,230.54. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.07% of the company’s stock.
AT&T Inc is a holding company. The Company offers communications and digital entertainment services in the United States and the world. It operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Business Solutions segment includes various categories, including wireless service, fixed strategic services, legacy voice and data services, other services and wireless equipment.
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