State of Michigan Retirement System Sells 22,800 Shares of AT&T Inc. $T

State of Michigan Retirement System reduced its stake in shares of AT&T Inc. (NYSE:T) by 1.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 2,197,913 shares of the technology company’s stock after selling 22,800 shares during the period. State of Michigan Retirement System’s holdings in AT&T were worth $62,069,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in T. Denali Advisors LLC increased its holdings in shares of AT&T by 5.9% during the 2nd quarter. Denali Advisors LLC now owns 401,037 shares of the technology company’s stock valued at $11,606,000 after purchasing an additional 22,394 shares in the last quarter. Csenge Advisory Group boosted its holdings in shares of AT&T by 20.3% during the 3rd quarter. Csenge Advisory Group now owns 189,293 shares of the technology company’s stock worth $5,346,000 after purchasing an additional 31,935 shares during the last quarter. Tredje AP fonden boosted its position in shares of AT&T by 1.8% during the 2nd quarter. Tredje AP fonden now owns 1,221,395 shares of the technology company’s stock valued at $35,347,000 after acquiring an additional 21,720 shares during the last quarter. Sentry Investment Management LLC lifted its holdings in AT&T by 153.2% in the second quarter. Sentry Investment Management LLC now owns 22,095 shares of the technology company’s stock valued at $625,000 after acquiring an additional 13,370 shares during the last quarter. Finally, Vise Technologies Inc. purchased a new position in shares of AT&T during the 2nd quarter worth $6,221,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on T shares. TD Cowen reaffirmed a “hold” rating on shares of AT&T in a research report on Thursday, January 29th. The Goldman Sachs Group dropped their price objective on shares of AT&T from $33.00 to $29.00 and set a “buy” rating for the company in a report on Friday, December 19th. Barclays lowered their target price on AT&T from $28.00 to $26.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 13th. Williams Trading set a $32.00 price objective on AT&T in a research note on Thursday, January 29th. Finally, UBS Group restated a “buy” rating on shares of AT&T in a research note on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $29.83.

AT&T Stock Down 0.6%

Shares of NYSE:T opened at $27.14 on Friday. The company has a market capitalization of $192.41 billion, a PE ratio of 8.90, a P/E/G ratio of 1.01 and a beta of 0.39. The company has a current ratio of 0.91, a quick ratio of 0.86 and a debt-to-equity ratio of 1.00. AT&T Inc. has a twelve month low of $22.95 and a twelve month high of $29.79. The firm has a 50 day simple moving average of $24.61 and a 200-day simple moving average of $26.33.

AT&T (NYSE:T) last posted its earnings results on Wednesday, January 28th. The technology company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.06. AT&T had a net margin of 17.47% and a return on equity of 12.33%. The firm had revenue of $33.47 billion for the quarter, compared to the consensus estimate of $32.91 billion. During the same period last year, the firm posted $0.43 EPS. The company’s revenue was up 3.6% on a year-over-year basis. AT&T has set its FY 2026 guidance at 2.250-2.350 EPS. On average, equities analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, February 2nd. Stockholders of record on Monday, January 12th were given a dividend of $0.2775 per share. The ex-dividend date was Monday, January 12th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.1%. AT&T’s payout ratio is 36.39%.

AT&T Company 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.