Maryland State Retirement & Pension System Sells 27,705 Shares of AT&T Inc. (NYSE:T)

Maryland State Retirement & Pension System decreased its position in AT&T Inc. (NYSE:T) by 6.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 386,335 shares of the technology company’s stock after selling 27,705 shares during the quarter. Maryland State Retirement & Pension System’s holdings in AT&T were worth $8,797,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Legacy Investment Solutions LLC bought a new stake in AT&T in the 3rd quarter valued at about $25,000. Marshall Investment Management LLC acquired a new stake in shares of AT&T in the fourth quarter valued at approximately $28,000. Tradewinds Capital Management LLC boosted its stake in shares of AT&T by 48.6% in the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock valued at $30,000 after buying an additional 430 shares during the period. YANKCOM Partnership acquired a new stake in AT&T during the fourth quarter worth approximately $30,000. Finally, Endeavor Private Wealth Inc. bought a new position in AT&T during the 4th quarter worth $34,000. Institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

T has been the subject of a number of recent analyst reports. UBS Group upped their target price on AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Sanford C. Bernstein increased their price objective on shares of AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Argus upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research report on Thursday, January 16th. Barclays upped their price target on shares of AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, Royal Bank of Canada lifted their price objective on shares of AT&T from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and an average target price of $26.74.

AT&T Stock Down 0.8 %

Shares of NYSE T opened at $26.60 on Wednesday. The company has a 50 day simple moving average of $24.84 and a 200 day simple moving average of $23.18. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $27.97. The firm has a market cap of $190.97 billion, a PE ratio of 17.86, a price-to-earnings-growth ratio of 3.00 and a beta of 0.56.

AT&T (NYSE:T) last released its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. On average, research analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.