Texas Permanent School Fund Boosts Position in AT&T Inc. (T)

Texas Permanent School Fund increased its stake in AT&T Inc. (NYSE:T) by 11.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,772,012 shares of the technology company’s stock after acquiring an additional 185,569 shares during the period. AT&T comprises about 0.8% of Texas Permanent School Fund’s holdings, making the stock its 16th largest holding. Texas Permanent School Fund’s holdings in AT&T were worth $56,899,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in T. Douglass Winthrop Advisors LLC increased its stake in AT&T by 0.5% in the 4th quarter. Douglass Winthrop Advisors LLC now owns 268,798 shares of the technology company’s stock worth $10,451,000 after buying an additional 1,421 shares in the last quarter. Budros Ruhlin & Roe Inc. increased its stake in AT&T by 2.4% in the 4th quarter. Budros Ruhlin & Roe Inc. now owns 61,260 shares of the technology company’s stock worth $2,382,000 after buying an additional 1,450 shares in the last quarter. Northstar Wealth Partners LLC increased its stake in AT&T by 2.4% in the 4th quarter. Northstar Wealth Partners LLC now owns 63,526 shares of the technology company’s stock worth $2,430,000 after buying an additional 1,462 shares in the last quarter. GHP Investment Advisors Inc. increased its stake in AT&T by 1.3% in the 4th quarter. GHP Investment Advisors Inc. now owns 124,950 shares of the technology company’s stock worth $4,858,000 after buying an additional 1,566 shares in the last quarter. Finally, Tiedemann Advisors LLC increased its stake in AT&T by 8.1% in the 1st quarter. Tiedemann Advisors LLC now owns 21,192 shares of the technology company’s stock worth $754,000 after buying an additional 1,587 shares in the last quarter. 64.63% of the stock is owned by institutional investors.

T traded up $0.50 on Friday, hitting $32.25. The company had a trading volume of 42,860,346 shares, compared to its average volume of 34,498,637. The firm has a market cap of $206.15 billion, a P/E ratio of 10.57, a P/E/G ratio of 2.67 and a beta of 0.39. AT&T Inc. has a 12-month low of $30.13 and a 12-month high of $39.33. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.92.

AT&T (NYSE:T) last released its quarterly earnings results on Tuesday, July 24th. The technology company reported $0.91 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.06. The company had revenue of $38.99 billion during the quarter, compared to analyst estimates of $38.45 billion. AT&T had a return on equity of 13.64% and a net margin of 20.12%. The firm’s revenue was down 2.1% on a year-over-year basis. During the same quarter last year, the business posted $0.79 earnings per share. On average, research analysts forecast that AT&T Inc. will post 3.52 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 1st. Shareholders of record on Wednesday, October 10th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 6.20%. The ex-dividend date is Tuesday, October 9th. AT&T’s payout ratio is currently 65.57%.

In other news, Director Matthew K. Rose acquired 65,500 shares of the firm’s stock in a transaction on Thursday, July 26th. The stock was acquired at an average price of $30.51 per share, with a total value of $1,998,405.00. Following the completion of the purchase, the director now directly owns 81,319 shares in the company, valued at $2,481,042.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Piazza Samuel A. Jr. Di purchased 7,690 shares of the firm’s stock in a transaction dated Wednesday, August 8th. The shares were bought at an average cost of $32.48 per share, with a total value of $249,771.20. Following the purchase, the director now directly owns 31,405 shares of the company’s stock, valued at approximately $1,020,034.40. The disclosure for this purchase can be found here. 0.09% of the stock is owned by company insiders.

A number of research analysts have recently weighed in on T shares. Zacks Investment Research lowered AT&T from a “buy” rating to a “hold” rating in a research report on Friday, July 20th. Bank of America upgraded AT&T from a “neutral” rating to a “buy” rating and set a $37.00 price objective for the company in a research report on Monday, July 30th. They noted that the move was a valuation call. Credit Suisse Group started coverage on AT&T in a research report on Tuesday, July 10th. They set an “underperform” rating and a $29.00 price objective for the company. Macquarie restated a “buy” rating and set a $35.00 price objective on shares of AT&T in a research report on Wednesday, September 12th. Finally, Morgan Stanley restated an “overweight” rating and set a $37.00 price objective on shares of AT&T in a research report on Wednesday, June 27th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. AT&T has an average rating of “Hold” and a consensus target price of $37.82.

AT&T Profile

AT&T Inc provides communications and digital entertainment services. The company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility, and International. The Business Solutions segment offers wireless services, strategic services, legacy voice, data services, wireless equipment, and other services to multinational companies, governmental and wholesale customers, and individual subscribers.

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

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