Ontario Teachers Pension Plan Board Sells 7,862,341 Shares of AT&T Inc. $T

Ontario Teachers Pension Plan Board trimmed its stake in shares of AT&T Inc. (NYSE:T) by 65.7% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 4,097,099 shares of the technology company’s stock after selling 7,862,341 shares during the quarter. AT&T comprises about 2.3% of Ontario Teachers Pension Plan Board’s portfolio, making the stock its 14th biggest holding. Ontario Teachers Pension Plan Board owned approximately 0.06% of AT&T worth $118,570,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Stone House Investment Management LLC acquired a new position in AT&T in the first quarter valued at about $25,000. O Brien Wealth Partners LLC acquired a new position in shares of AT&T in the 2nd quarter valued at approximately $26,000. Solstein Capital LLC lifted its holdings in shares of AT&T by 217.3% during the 2nd quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock worth $28,000 after acquiring an additional 652 shares during the period. Kennebec Savings Bank boosted its position in shares of AT&T by 412.1% during the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock worth $28,000 after acquiring an additional 783 shares in the last quarter. Finally, IMA Advisory Services Inc. bought a new position in AT&T in the first quarter valued at approximately $29,000. 57.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on T shares. Raymond James Financial restated a “strong-buy” rating and set a $33.00 target price (up from $31.00) on shares of AT&T in a research note on Thursday, September 18th. KeyCorp raised AT&T from a “sector weight” rating to an “overweight” rating and set a $30.00 price target for the company in a report on Tuesday. UBS Group reaffirmed a “buy” rating on shares of AT&T in a research note on Thursday, October 23rd. Wall Street Zen cut AT&T from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, JPMorgan Chase & Co. boosted their target price on AT&T from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $30.64.

AT&T Price Performance

AT&T stock opened at $25.58 on Friday. The stock has a 50-day moving average price of $26.75 and a two-hundred day moving average price of $27.56. AT&T Inc. has a 12 month low of $21.38 and a 12 month high of $29.79. The company has a market capitalization of $181.31 billion, a PE ratio of 8.30, a P/E/G ratio of 2.16 and a beta of 0.40. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, hitting the consensus estimate of $0.54. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The company had revenue of $30.71 billion for the quarter, compared to analysts’ expectations of $30.85 billion. During the same period in the previous year, the business posted $0.60 earnings per share. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. Analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Friday, October 10th were given a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.3%. The ex-dividend date was Friday, October 10th. AT&T’s dividend payout ratio is 36.04%.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.