AT&T Inc. (NYSE:T) Shares Sold by Utah Retirement Systems

Utah Retirement Systems lowered its stake in shares of AT&T Inc. (NYSE:T) by 4.2% during the first quarter, Holdings Channel reports. The firm owned 1,370,084 shares of the technology company’s stock after selling 60,200 shares during the period. AT&T makes up approximately 0.6% of Utah Retirement Systems’ investment portfolio, making the stock its 27th largest position. Utah Retirement Systems’ holdings in AT&T were worth $41,473,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. OLD Mission Capital LLC purchased a new position in shares of AT&T during the third quarter worth approximately $453,000. Sage Mountain Advisors LLC purchased a new position in shares of AT&T during the fourth quarter worth approximately $340,000. Ironwood Wealth Management LLC. grew its position in shares of AT&T by 1,413.8% during the fourth quarter. Ironwood Wealth Management LLC. now owns 3,391 shares of the technology company’s stock worth $98,000 after acquiring an additional 3,167 shares during the last quarter. Camden National Bank purchased a new position in AT&T in the 4th quarter valued at $278,000. Finally, Centric Wealth Management grew its position in AT&T by 55.2% in the 4th quarter. Centric Wealth Management now owns 9,298 shares of the technology company’s stock valued at $267,000 after buying an additional 3,308 shares during the last quarter. 50.40% of the stock is currently owned by institutional investors.

T stock traded down $0.04 during trading on Thursday, hitting $27.86. The stock had a trading volume of 396,393 shares, compared to its average volume of 30,837,840. The company has a 50 day moving average price of $29.14. AT&T Inc. has a 1-year low of $26.35 and a 1-year high of $33.88. The company has a market capitalization of $198.92 billion, a PE ratio of -80.68, a price-to-earnings-growth ratio of 2.76 and a beta of 0.79. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.78 and a current ratio of 0.82.

AT&T (NYSE:T) last announced its earnings results on Wednesday, April 21st. The technology company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.08. AT&T had a negative net margin of 1.29% and a positive return on equity of 12.33%. The firm had revenue of $43.90 billion during the quarter, compared to the consensus estimate of $42.69 billion. During the same quarter in the previous year, the company posted $0.84 EPS. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. As a group, analysts predict that AT&T Inc. will post 3.17 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, August 2nd. Investors of record on Friday, July 9th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 7.47%. The ex-dividend date of this dividend is Thursday, July 8th. AT&T’s payout ratio is 65.41%.

In other AT&T news, CFO Pascal Desroches purchased 3,056 shares of the stock in a transaction on Wednesday, May 19th. The stock was bought at an average price of $29.06 per share, for a total transaction of $88,807.36. Following the acquisition, the chief financial officer now directly owns 173,871 shares of the company’s stock, valued at $5,052,691.26. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO John T. Stankey purchased 34,614 shares of the stock in a transaction on Wednesday, May 19th. The stock was acquired at an average price of $28.81 per share, with a total value of $997,229.34. The disclosure for this purchase can be found here. Insiders own 0.08% of the company’s stock.

A number of research firms recently weighed in on T. Tigress Financial reiterated a “buy” rating and issued a $36.00 price objective on shares of AT&T in a research report on Friday, July 9th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of AT&T from $31.00 to $34.00 in a research report on Wednesday, April 28th. Scotiabank upgraded shares of AT&T from a “sector underperform” rating to a “sector perform” rating and lifted their price objective for the company from $28.00 to $31.00 in a research report on Wednesday, June 16th. Oppenheimer reiterated a “hold” rating on shares of AT&T in a research report on Monday, April 26th. Finally, Raymond James raised their target price on AT&T from $32.00 to $33.00 and gave the company an “outperform” rating in a report on Friday, April 23rd. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $31.39.

AT&T Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications media and technology service. It operates through the following segments: Communications, WarnerMedia, and Latin America. The Communications segment provides services to businesses and consumers located in the U.S., or in U.S.

Further Reading: What is the operating income formula?

Want to see what other hedge funds are holding T? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AT&T Inc. (NYSE:T).

Institutional Ownership by Quarter for AT&T (NYSE:T)

Receive News & Ratings for AT&T Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AT&T and related companies with MarketBeat.com's FREE daily email newsletter.