Louisiana State Employees Retirement System Sells 2,000 Shares of AT&T Inc. (NYSE:T)

Louisiana State Employees Retirement System lowered its holdings in shares of AT&T Inc. (NYSE:T) by 0.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 403,700 shares of the technology company’s stock after selling 2,000 shares during the quarter. Louisiana State Employees Retirement System’s holdings in AT&T were worth $8,881,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealthcare Advisory Partners LLC lifted its position in shares of AT&T by 9.0% in the first quarter. Wealthcare Advisory Partners LLC now owns 73,404 shares of the technology company’s stock worth $1,292,000 after buying an additional 6,064 shares in the last quarter. Independence Bank of Kentucky raised its position in shares of AT&T by 48.4% during the 1st quarter. Independence Bank of Kentucky now owns 6,243 shares of the technology company’s stock valued at $110,000 after buying an additional 2,037 shares in the last quarter. Winthrop Advisory Group LLC raised its position in AT&T by 5.8% during the first quarter. Winthrop Advisory Group LLC now owns 19,729 shares of the technology company’s stock valued at $347,000 after purchasing an additional 1,081 shares during the period. Town & Country Bank & Trust CO dba First Bankers Trust CO raised its holdings in AT&T by 1.7% during the 1st quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 39,918 shares of the technology company’s stock valued at $703,000 after buying an additional 651 shares during the period. Finally, New Mexico Educational Retirement Board boosted its stake in AT&T by 11.6% during the first quarter. New Mexico Educational Retirement Board now owns 415,262 shares of the technology company’s stock worth $7,309,000 after buying an additional 43,300 shares during the period. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Down 1.6 %

AT&T stock opened at $21.84 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. The firm has a market cap of $156.60 billion, a P/E ratio of 11.74, a P/E/G ratio of 3.67 and a beta of 0.60. The business has a fifty day moving average of $21.20 and a two-hundred day moving average of $19.12. AT&T Inc. has a twelve month low of $14.74 and a twelve month high of $22.58.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The company had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter last year, the company earned $0.64 earnings per share. On average, analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be paid a $0.2775 dividend. The ex-dividend date is Thursday, October 10th. This represents a $1.11 annualized dividend and a yield of 5.08%. AT&T’s dividend payout ratio (DPR) is 59.68%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Scotiabank downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Wells Fargo & Company cut their target price on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday. TD Cowen increased their price target on AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Finally, JPMorgan Chase & Co. boosted their price objective on AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $23.40.

AT&T Company 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.