VIRGINIA RETIREMENT SYSTEMS ET Al Purchases 1,718,902 Shares of AT&T Inc. $T

VIRGINIA RETIREMENT SYSTEMS ET Al lifted its position in AT&T Inc. (NYSE:T) by 61.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,494,203 shares of the technology company’s stock after acquiring an additional 1,718,902 shares during the period. AT&T accounts for about 0.8% of VIRGINIA RETIREMENT SYSTEMS ET Al’s investment portfolio, making the stock its 14th largest holding. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in AT&T were worth $126,916,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Front Row Advisors LLC purchased a new position in AT&T during the second quarter valued at $25,000. O Brien Wealth Partners LLC bought a new position in shares of AT&T in the 2nd quarter worth about $26,000. Kennebec Savings Bank lifted its position in AT&T by 412.1% during the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after acquiring an additional 783 shares during the period. Solstein Capital LLC boosted its stake in AT&T by 217.3% during the second quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock worth $28,000 after acquiring an additional 652 shares in the last quarter. Finally, Curio Wealth LLC grew its holdings in AT&T by 26,100.0% in the second quarter. Curio Wealth LLC now owns 1,048 shares of the technology company’s stock worth $30,000 after purchasing an additional 1,044 shares during the period. 57.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of AT&T in a research report on Monday. Royal Bank Of Canada dropped their target price on AT&T from $31.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday, October 23rd. Williams Trading set a $33.00 price target on AT&T in a report on Thursday, October 23rd. Loop Capital set a $29.00 price target on AT&T in a research report on Friday, December 19th. Finally, Wells Fargo & Company cut their price objective on shares of AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a research report on Thursday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $30.24.

AT&T Trading Up 0.3%

AT&T stock opened at $24.84 on Wednesday. AT&T Inc. has a one year low of $21.38 and a one year high of $29.79. The business’s fifty day moving average is $25.02 and its 200 day moving average is $26.96. The stock has a market capitalization of $176.07 billion, a PE ratio of 8.06, a price-to-earnings-growth ratio of 1.45 and a beta of 0.38. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.01 and a quick ratio of 0.96.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.54. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The firm had revenue of $30.71 billion for the quarter, compared to the consensus estimate of $30.85 billion. During the same quarter last year, the firm posted $0.60 EPS. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. On average, sell-side analysts predict that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 12th will be paid a dividend of $0.2775 per share. The ex-dividend date is Monday, January 12th. This represents a $1.11 dividend on an annualized basis and a yield of 4.5%. AT&T’s payout ratio is currently 36.04%.

About AT&T

AT&T Inc is a global telecommunications company that provides a broad range of communications and digital entertainment services. Its core activities include consumer and business wireless services, broadband and fiber internet, and network infrastructure. The company operates branded wireless services through AT&T Mobility and deploys fixed-line and fiber networks to deliver high-speed internet and related home services.

AT&T’s product and service portfolio spans mobile voice and data plans, smartphones and device sales, home internet (including fiber-to-the-home where available), and managed connectivity solutions for enterprise customers.