State of Michigan Retirement System Has $64.27 Million Holdings in AT&T Inc. $T

State of Michigan Retirement System lessened its stake in AT&T Inc. (NYSE:T) by 6.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,220,713 shares of the technology company’s stock after selling 144,400 shares during the quarter. State of Michigan Retirement System’s holdings in AT&T were worth $64,267,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in T. Kingstone Capital Partners Texas LLC acquired a new stake in shares of AT&T in the 2nd quarter valued at approximately $5,266,758,000. Nuveen LLC acquired a new stake in shares of AT&T in the 1st quarter valued at approximately $1,072,128,000. GQG Partners LLC boosted its holdings in shares of AT&T by 17.7% in the 1st quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock valued at $3,222,711,000 after buying an additional 17,177,874 shares during the last quarter. Ontario Teachers Pension Plan Board boosted its holdings in shares of AT&T by 30,527.5% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company’s stock valued at $338,213,000 after buying an additional 11,920,392 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of AT&T by 350.4% in the 1st quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company’s stock valued at $321,372,000 after buying an additional 8,841,126 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Up 0.3%

T stock opened at $24.76 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.01 and a quick ratio of 0.96. The stock has a market capitalization of $177.01 billion, a price-to-earnings ratio of 8.04, a PEG ratio of 2.16 and a beta of 0.42. The business’s fifty day moving average price is $27.57 and its two-hundred day moving average price is $27.70. AT&T Inc. has a fifty-two week low of $21.38 and a fifty-two week high of $29.79.

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

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be given a $0.2775 dividend. The ex-dividend date is Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.5%. AT&T’s dividend payout ratio (DPR) is presently 36.04%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. TD Cowen raised their price target on AT&T from $32.00 to $33.00 and gave the company a “hold” rating in a report on Thursday, October 23rd. Morgan Stanley raised their price target on AT&T from $31.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, July 16th. JPMorgan Chase & Co. raised their price target on AT&T from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Bank of America assumed coverage on AT&T in a report on Monday, July 7th. They set a “buy” rating and a $32.00 price target for the company. Finally, Royal Bank Of Canada cut their price target on AT&T from $31.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $30.67.

AT&T Company Profile

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.