State of New Jersey Common Pension Fund D Trims Holdings in AT&T Inc. (NYSE:T)

State of New Jersey Common Pension Fund D cut its position in shares of AT&T Inc. (NYSE:T) by 0.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,605,179 shares of the technology company’s stock after selling 22,726 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in AT&T were worth $57,314,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Strategic Financial Concepts LLC lifted its stake in shares of AT&T by 227.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after purchasing an additional 91,578 shares during the period. Riggs Asset Managment Co. Inc. increased its stake in AT&T by 356.5% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after purchasing an additional 1,116 shares during the last quarter. American Capital Advisory LLC lifted its position in AT&T by 107.5% during the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after buying an additional 807 shares during the period. Altshuler Shaham Ltd acquired a new stake in AT&T in the 2nd quarter worth about $30,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in AT&T by 176.6% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock valued at $35,000 after buying an additional 1,192 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

T has been the topic of several research analyst reports. Wells Fargo & Company decreased their target price on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Scotiabank lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. Barclays lifted their target price on AT&T from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Finally, Redburn Atlantic upgraded AT&T to a “strong sell” rating in a research note on Monday, September 16th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and a consensus target price of $23.40.

AT&T Stock Up 1.4 %

T stock traded up $0.30 during trading on Friday, reaching $22.34. The stock had a trading volume of 29,901,560 shares, compared to its average volume of 34,672,116. The firm has a fifty day moving average price of $21.70 and a 200 day moving average price of $19.54. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $160.30 billion, a P/E ratio of 18.16, a PEG ratio of 3.35 and a beta of 0.59. AT&T Inc. has a 1-year low of $15.46 and a 1-year high of $22.73.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. During the same quarter in the previous year, the firm posted $0.64 earnings per share. The company’s revenue was down .5% compared to the same quarter last year. On average, equities analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.97%. The ex-dividend date was Thursday, October 10th. AT&T’s payout ratio is currently 90.24%.

AT&T Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.