Utah Retirement Systems Sells 60,200 Shares of AT&T Inc. (NYSE:T)

Utah Retirement Systems cut its position in AT&T Inc. (NYSE:T) by 4.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,370,084 shares of the technology company’s stock after selling 60,200 shares during the period. AT&T comprises 0.6% of Utah Retirement Systems’ portfolio, making the stock its 27th largest holding. Utah Retirement Systems’ holdings in AT&T were worth $41,473,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Curi Capital purchased a new stake in shares of AT&T in the fourth quarter worth $25,000. Arcadia Investment Management Corp MI purchased a new position in AT&T during the first quarter valued at $30,000. Better Money Decisions LLC purchased a new position in AT&T during the first quarter valued at $32,000. Interactive Financial Advisors grew its stake in AT&T by 65.8% during the first quarter. Interactive Financial Advisors now owns 1,101 shares of the technology company’s stock valued at $33,000 after acquiring an additional 437 shares in the last quarter. Finally, Arlington Partners LLC purchased a new position in AT&T during the first quarter valued at $35,000. 50.40% of the stock is owned by hedge funds and other institutional investors.

Shares of AT&T stock traded down $0.04 on Thursday, reaching $27.86. The stock had a trading volume of 396,393 shares, compared to its average volume of 30,837,840. The firm’s 50 day moving average price is $29.14. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 0.88. AT&T Inc. has a 1 year low of $26.35 and a 1 year high of $33.88. The stock has a market cap of $198.92 billion, a PE ratio of -80.68, a P/E/G ratio of 2.76 and a beta of 0.79.

AT&T (NYSE:T) last released its earnings results on Wednesday, April 21st. The technology company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.08. The company had revenue of $43.90 billion for the quarter, compared to the consensus estimate of $42.69 billion. AT&T had a negative net margin of 1.29% and a positive return on equity of 12.33%. AT&T’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.84 EPS. As a group, equities research analysts anticipate that AT&T Inc. will post 3.17 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, August 2nd. Shareholders of record on Friday, July 9th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 7.47%. The ex-dividend date of this dividend is Thursday, July 8th. AT&T’s dividend payout ratio is presently 65.41%.

In other AT&T news, CFO Pascal Desroches acquired 3,056 shares of the firm’s stock in a transaction on Wednesday, May 19th. The stock was acquired at an average cost of $29.06 per share, for a total transaction of $88,807.36. Following the purchase, the chief financial officer now owns 173,871 shares in the company, valued at approximately $5,052,691.26. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO John T. Stankey acquired 34,614 shares of the firm’s stock in a transaction on Wednesday, May 19th. The shares were acquired at an average price of $28.81 per share, with a total value of $997,229.34. The disclosure for this purchase can be found here. 0.08% of the stock is currently owned by insiders.

T has been the subject of several research analyst reports. Tigress Financial reaffirmed a “buy” rating and set a $36.00 target price on shares of AT&T in a research note on Friday, July 9th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of AT&T from $31.00 to $34.00 in a research note on Wednesday, April 28th. Raymond James lifted their price objective on shares of AT&T from $32.00 to $33.00 and gave the stock an “outperform” rating in a research note on Friday, April 23rd. Barclays lifted their price objective on shares of AT&T from $31.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Friday, April 23rd. Finally, Morgan Stanley lowered shares of AT&T to an “equal weight” rating and set a $29.00 target price for the company. in a report on Friday, July 16th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. AT&T currently has an average rating of “Hold” and an average target price of $31.39.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications media and technology service. It operates through the following segments: Communications, WarnerMedia, and Latin America. The Communications segment provides services to businesses and consumers located in the U.S., or in U.S.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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