South Dakota Investment Council Has $6.41 Million Position in AT&T Inc. (NYSE:T)

South Dakota Investment Council lessened its stake in shares of AT&T Inc. (NYSE:T) by 2.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 381,705 shares of the technology company’s stock after selling 9,000 shares during the period. South Dakota Investment Council’s holdings in AT&T were worth $6,405,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. 1900 Wealth Management LLC raised its holdings in AT&T by 6.8% during the third quarter. 1900 Wealth Management LLC now owns 16,431 shares of the technology company’s stock worth $247,000 after buying an additional 1,044 shares during the last quarter. Avior Wealth Management LLC raised its holdings in AT&T by 9.3% during the third quarter. Avior Wealth Management LLC now owns 79,474 shares of the technology company’s stock worth $1,194,000 after buying an additional 6,739 shares during the last quarter. Mach 1 Financial Group LLC acquired a new position in AT&T during the third quarter worth $185,000. Exchange Traded Concepts LLC raised its holdings in AT&T by 33.0% during the third quarter. Exchange Traded Concepts LLC now owns 43,337 shares of the technology company’s stock worth $651,000 after buying an additional 10,758 shares during the last quarter. Finally, Wagner Wealth Management LLC grew its stake in shares of AT&T by 5.0% in the 3rd quarter. Wagner Wealth Management LLC now owns 216,169 shares of the technology company’s stock worth $3,247,000 after acquiring an additional 10,256 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

T has been the subject of several recent analyst reports. Wolfe Research upgraded shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price for the company in a research note on Tuesday, March 5th. Barclays upped their target price on shares of AT&T from $17.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 31st. Citigroup upped their target price on shares of AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. StockNews.com lowered shares of AT&T from a “buy” rating to a “hold” rating in a research note on Thursday, April 4th. Finally, Oppenheimer upgraded shares of AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a research report on Friday, January 19th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $20.50.

AT&T Price Performance

Shares of AT&T stock traded up $0.40 on Wednesday, reaching $16.90. The stock had a trading volume of 56,618,354 shares, compared to its average volume of 39,089,582. AT&T Inc. has a 1 year low of $13.43 and a 1 year high of $18.16. The company has a market cap of $120.88 billion, a P/E ratio of 8.38, a price-to-earnings-growth ratio of 2.46 and a beta of 0.57. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The business’s 50 day moving average is $16.98 and its two-hundred day moving average is $16.54.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, January 24th. The technology company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). The firm had revenue of $32 billion during the quarter, compared to analysts’ expectations of $31.44 billion. AT&T had a return on equity of 15.39% and a net margin of 11.76%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.61 earnings per share. As a group, research analysts anticipate that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 6.57%. The ex-dividend date of this dividend is Tuesday, April 9th. AT&T’s dividend payout ratio is currently 56.63%.

About AT&T

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.