39,884 AT&T Inc. $T Shares Acquired by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System raised its position in AT&T Inc. (NYSE:T) by 10.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 406,496 shares of the technology company’s stock after buying an additional 39,884 shares during the period. Maryland State Retirement & Pension System’s holdings in AT&T were worth $9,919,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of T. State Street Corp grew its holdings in shares of AT&T by 5.8% in the second quarter. State Street Corp now owns 334,273,613 shares of the technology company’s stock valued at $6,919,464,000 after acquiring an additional 18,468,679 shares in the last quarter. Bank of America Corp DE lifted its holdings in AT&T by 4.6% during the first quarter. Bank of America Corp DE now owns 125,191,700 shares of the technology company’s stock worth $3,629,307,000 after acquiring an additional 5,449,222 shares during the period. Bank of New York Mellon Corp lifted its holdings in AT&T by 3.5% during the second quarter. Bank of New York Mellon Corp now owns 75,323,574 shares of the technology company’s stock worth $1,559,198,000 after acquiring an additional 2,559,065 shares during the period. GQG Partners LLC bought a new stake in AT&T during the second quarter worth $1,223,364,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in AT&T by 2.5% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 55,616,152 shares of the technology company’s stock worth $1,151,254,000 after purchasing an additional 1,336,556 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Trading Down 0.4%

NYSE:T opened at $22.16 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.82 and a debt-to-equity ratio of 1.22. The stock has a market capitalization of $149.31 billion, a PE ratio of 11.98, a price-to-earnings-growth ratio of 1.10 and a beta of 0.30. The firm’s 50 day moving average is $23.65 and its 200 day moving average is $24.88. AT&T Inc. has a 12 month low of $19.89 and a 12 month high of $29.43.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, October 21st. The technology company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.60 by $0.05. AT&T had a return on equity of 13.41% and a net margin of 10.19%. The business had revenue of $32.32 billion for the quarter, compared to the consensus estimate of $31.69 billion. During the same quarter in the prior year, the business earned $0.54 earnings per share. AT&T’s revenue for the quarter was up 5.2% on a year-over-year basis. Sell-side analysts expect that AT&T Inc. will post 2.40 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 2nd. Shareholders of record on Monday, October 12th were paid a $0.2775 dividend. The ex-dividend date was Friday, October 9th. This represents a $1.11 annualized dividend and a dividend yield of 5.0%. AT&T’s payout ratio is presently 60.00%.

Wall Street Analyst Weigh In

T has been the subject of a number of recent analyst reports. Weiss Ratings restated a “buy (b-)” rating on shares of AT&T in a research note on Friday, October 30th. Scotiabank lowered their target price on AT&T from $27.50 to $26.50 and set a “sector perform” rating on the stock in a research note on Friday, October 9th. JPMorgan Chase & Co. lowered their target price on AT&T from $33.00 to $31.00 and set an “overweight” rating on the stock in a research note on Thursday, October 22nd. Morgan Stanley cut their price target on shares of AT&T from $28.00 to $25.00 and set an “overweight” rating on the stock in a report on Thursday, October 22nd. Finally, TD Cowen restated a “hold” rating and set a $33.00 price target on shares of AT&T in a research report on Thursday, October 22nd. Twelve equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, AT&T presently has an average rating of “Moderate Buy” and an average price target of $27.56.

Recent AT&T Headlines

Investors following T have been watching these headlines:

• Positive Sentiment: AT&T broke ground on a 54-acre global headquarters campus in Plano, a long-term investment that will use the company’s fiber and 5G infrastructure and consolidate employees from across the Dallas–Fort Worth area. AT&T Breaks Ground on New Global Headquarters
• Negative Sentiment: A comparison of AT&T with Verizon favors Verizon, citing stronger cash flow, improving subscriber trends, and an expanding fiber footprint—factors that could weigh on AT&T’s relative investment appeal. T vs. VZ: Which Telecom Stock is a Better Investment Right Now?
• Negative Sentiment: AT&T’s roughly 5.2% dividend yield faces competition from a 10-year Treasury yield around 5%, while General Mills’ yield is reported to be higher. That may limit the stock’s appeal to income-focused investors. Better High-Yield Dividend Stock: AT&T vs. General Mills

AT&T Profile

AT&T Inc. (NYSE: T) is a telecommunications company that provides wireless communications, broadband, and related connectivity services. Its offerings include mobile voice and data plans, internet access, fiber broadband, fixed wireless services, and business communications solutions. The company serves consumers, businesses, government agencies, and other organizations primarily in the United States. AT&T’s business operations include wireless network services, wireline connectivity, fiber-optic internet, voice services, and networking solutions designed to connect locations, devices, and applications.