State of New Jersey Common Pension Fund D Acquires 80,269 Shares of AT&T Inc. (NYSE:T)

State of New Jersey Common Pension Fund D grew its position in shares of AT&T Inc. (NYSE:T) by 2.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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’s holdings in AT&T were worth $68,834,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Carmel Capital Partners LLC raised its holdings in AT&T by 16,250.0% in the 3rd quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock worth $25,000 after purchasing an additional 1,625 shares during the period. Lipe & Dalton bought a new position in AT&T in the 3rd quarter worth $30,000. Ramirez Asset Management Inc. bought a new position in AT&T in the 3rd quarter worth $30,000. Farmers & Merchants Trust Co of Chambersburg PA raised its holdings 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 worth $39,000 after purchasing an additional 606 shares during the period. Finally, Financial Gravity Asset Management Inc. raised its holdings in AT&T by 3,202.4% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 2,708 shares of the technology company’s stock worth $41,000 after purchasing an additional 2,626 shares during the period. 57.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on T. Deutsche Bank Aktiengesellschaft increased their price target on AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Barclays raised their price objective on shares of AT&T from $17.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 31st. Wolfe Research raised shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price target for the company in a research note on Tuesday, March 5th. Tigress Financial lifted their price objective on shares of AT&T from $28.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $17.00 price target on shares of AT&T in a report on Thursday, April 11th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $20.81.

AT&T Stock Performance

Shares of AT&T stock traded up $0.17 during trading hours on Friday, reaching $16.75. The company’s stock had a trading volume of 37,842,157 shares, compared to its average volume of 39,393,957. 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 Inc. has a one year low of $13.43 and a one year high of $18.16. The company’s 50 day simple moving average is $16.97 and its 200 day simple moving average is $16.54. The stock has a market cap of $119.77 billion, a P/E ratio of 9.01, a price-to-earnings-growth ratio of 2.54 and a beta of 0.57.

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

AT&T Dividend Announcement

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

AT&T Profile

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.