State of New Jersey Common Pension Fund D Has $68.83 Million Position in AT&T Inc. (NYSE:T)

State of New Jersey Common Pension Fund D increased its position in shares of AT&T Inc. (NYSE:T) by 2.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,102,152 shares of the technology company’s stock after buying an additional 80,269 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.06% of AT&T worth $68,834,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Carmel Capital Partners LLC raised its stake in shares of AT&T by 16,250.0% in the third quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock valued at $25,000 after acquiring an additional 1,625 shares during the last quarter. Lipe & Dalton acquired a new position in shares of AT&T in the 3rd quarter valued at $30,000. Ramirez Asset Management Inc. bought a new stake in AT&T in the 3rd quarter valued at $30,000. Farmers & Merchants Trust Co of Chambersburg PA lifted its position in AT&T by 35.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock valued at $39,000 after acquiring an additional 606 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. lifted its position in AT&T by 3,202.4% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 2,708 shares of the technology company’s stock worth $41,000 after buying an additional 2,626 shares in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Tigress Financial upped their price target on shares of AT&T from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Citigroup raised their price target on shares of AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Royal Bank of Canada reiterated a “sector perform” rating and set a $17.00 price objective on shares of AT&T in a research report on Thursday, April 11th. Scotiabank raised their price target on shares of AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a report on Thursday. Finally, TheStreet upgraded shares of AT&T from a “c” rating to a “b-” rating in a report on Wednesday, January 24th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.81.

AT&T Trading Up 1.0 %

T traded up $0.17 during trading on Friday, hitting $16.75. 37,842,157 shares of the stock were exchanged, compared to its average volume of 39,393,957. The firm has a 50 day simple moving average of $16.97 and a 200 day simple moving average of $16.54. The firm has a market cap of $119.77 billion, a price-to-earnings ratio of 9.01, a P/E/G ratio of 2.54 and a beta of 0.57. AT&T Inc. has a 1 year low of $13.43 and a 1 year high of $18.16. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.67 and a current ratio of 0.68.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The firm had revenue of $30.03 billion during the quarter, compared to analysts’ expectations of $30.62 billion. During the same quarter last year, the firm earned $0.60 EPS. The business’s quarterly revenue was down .4% on a year-over-year basis. As a group, equities analysts expect that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be paid a dividend of $0.2775 per share. The ex-dividend date is Tuesday, April 9th. This represents a $1.11 annualized dividend and a yield of 6.63%. AT&T’s dividend payout ratio (DPR) is currently 59.68%.

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.