State of Alaska Department of Revenue Buys 106,879 Shares of AT&T Inc. $T

State of Alaska Department of Revenue lifted its stake in AT&T Inc. (NYSE:T) by 11.4% in the third quarter, HoldingsChannel.com reports. The firm owned 1,045,403 shares of the technology company’s stock after purchasing an additional 106,879 shares during the quarter. State of Alaska Department of Revenue’s holdings in AT&T were worth $29,521,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC boosted its holdings in AT&T by 26.5% in the fourth quarter. Brighton Jones LLC now owns 48,579 shares of the technology company’s stock valued at $1,106,000 after acquiring an additional 10,188 shares during the last quarter. SCS Capital Management LLC acquired a new position in AT&T during the 1st quarter valued at about $323,000. Anchor Investment Management LLC boosted its stake in shares of AT&T by 36.6% in the 1st quarter. Anchor Investment Management LLC now owns 50,943 shares of the technology company’s stock valued at $1,441,000 after purchasing an additional 13,663 shares during the last quarter. Ransom Advisory Ltd acquired a new stake in shares of AT&T during the 1st quarter worth approximately $40,000. Finally, Integrity Alliance LLC. grew its position in shares of AT&T by 111.7% during the 1st quarter. Integrity Alliance LLC. now owns 111,384 shares of the technology company’s stock worth $3,150,000 after buying an additional 58,759 shares during the period. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 0.9%

AT&T stock opened at $24.19 on Friday. The stock has a market capitalization of $171.49 billion, a PE ratio of 7.85, a price-to-earnings-growth ratio of 1.28 and a beta of 0.39. AT&T Inc. has a twelve month low of $21.38 and a twelve month high of $29.79. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 1.01. The company has a 50 day moving average of $24.92 and a 200-day moving average of $26.81.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, October 22nd. The technology company reported $0.54 EPS for the quarter, hitting analysts’ consensus estimates of $0.54. The business had revenue of $30.71 billion for the quarter, compared to analyst estimates of $30.85 billion. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period last year, the business posted $0.60 earnings per share. On average, equities research analysts anticipate that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 12th will be paid a $0.2775 dividend. The ex-dividend date of this dividend is Monday, January 12th. This represents a $1.11 annualized dividend and a dividend yield of 4.6%. AT&T’s dividend payout ratio (DPR) is currently 36.04%.

Wall Street Analyst Weigh In

T has been the topic of several analyst reports. Cowen restated a “hold” rating on shares of AT&T in a report on Thursday, October 23rd. UBS Group reiterated a “buy” rating on shares of AT&T in a research report on Thursday, October 23rd. Wells Fargo & Company reduced their price target on AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a research report on Thursday, October 16th. Barclays decreased their price objective on AT&T from $30.00 to $28.00 and set an “equal weight” rating for the company in a research note on Thursday, October 23rd. Finally, Arete Research set a $20.00 price objective on AT&T in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $29.42.

AT&T Profile

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.