State of Tennessee Treasury Department reduced its stake in shares of AT&T Inc. (NYSE:T) by 7.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,437,544 shares of the technology company’s stock after selling 380,763 shares during the period. AT&T accounts for approximately 0.9% of State of Tennessee Treasury Department’s portfolio, making the stock its 16th largest position. State of Tennessee Treasury Department owned about 0.07% of AT&T worth $184,380,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the stock. Auxier Asset Management raised its position in shares of AT&T by 1.5% in the fourth quarter. Auxier Asset Management now owns 29,095 shares of the technology company’s stock worth $1,237,000 after buying an additional 440 shares during the last quarter. Teachers Advisors LLC raised its position in shares of AT&T by 26.5% in the fourth quarter. Teachers Advisors LLC now owns 13,610,660 shares of the technology company’s stock worth $578,861,000 after buying an additional 2,849,017 shares during the last quarter. Kentucky Retirement Systems purchased a new position in shares of AT&T during the fourth quarter worth about $18,952,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of AT&T during the fourth quarter worth about $8,456,000. Finally, Highbridge Capital Management LLC purchased a new position in shares of AT&T during the fourth quarter worth about $1,490,000. Hedge funds and other institutional investors own 55.00% of the company’s stock.

Shares of AT&T Inc. (T) traded up 0.05% during mid-day trading on Friday, hitting $37.48. The company had a trading volume of 12,769,392 shares. AT&T Inc. has a one year low of $35.81 and a one year high of $43.03. The firm’s 50-day moving average price is $37.74 and its 200 day moving average price is $39.25. The company has a market capitalization of $230.13 billion, a P/E ratio of 17.61 and a beta of 0.49.

AT&T (NYSE:T) last announced its earnings results on Tuesday, July 25th. The technology company reported $0.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.05. The firm had revenue of $39.84 billion during the quarter, compared to analyst estimates of $39.84 billion. AT&T had a net margin of 8.12% and a return on equity of 14.53%. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.72 EPS. Analysts predict that AT&T Inc. will post $2.94 earnings per share for the current fiscal year.

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A number of equities analysts have issued reports on T shares. Vetr raised AT&T from a “hold” rating to a “buy” rating and set a $39.81 price target for the company in a research note on Wednesday, June 21st. Jefferies Group LLC reaffirmed a “buy” rating and set a $48.00 price target on shares of AT&T in a research note on Thursday, August 24th. Macquarie reaffirmed a “buy” rating and set a $43.00 price target on shares of AT&T in a research note on Friday. Barclays PLC decreased their price target on AT&T from $41.00 to $39.00 and set an “equal weight” rating for the company in a research note on Friday, July 14th. Finally, Royal Bank Of Canada set a $42.00 price target on AT&T and gave the company a “hold” rating in a research note on Saturday, May 20th. One investment analyst has rated the stock with a sell rating, twenty have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $43.41.

About AT&T

AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.

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

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