Valley Brook Capital Group Inc. Cuts Position in AT&T Inc. (NYSE:T)

Valley Brook Capital Group Inc. lessened its holdings in AT&T Inc. (NYSE:T) by 7.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 21,696 shares of the technology company’s stock after selling 1,705 shares during the quarter. Valley Brook Capital Group Inc.’s holdings in AT&T were worth $364,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sora Investors LLC purchased a new position in shares of AT&T in the 3rd quarter worth approximately $11,265,000. Provence Wealth Management Group boosted its stake in shares of AT&T by 55.8% in the 4th quarter. Provence Wealth Management Group now owns 16,217 shares of the technology company’s stock worth $272,000 after buying an additional 5,807 shares during the last quarter. Checchi Capital Advisers LLC boosted its stake in shares of AT&T by 3.1% in the 3rd quarter. Checchi Capital Advisers LLC now owns 38,929 shares of the technology company’s stock worth $585,000 after buying an additional 1,178 shares during the last quarter. Retireful LLC purchased a new position in shares of AT&T in the 4th quarter worth approximately $1,163,000. Finally, Brighton Jones LLC lifted its stake in AT&T by 12.6% in the fourth quarter. Brighton Jones LLC now owns 46,265 shares of the technology company’s stock valued at $776,000 after purchasing an additional 5,161 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on T. Citigroup upped their price objective on AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Deutsche Bank Aktiengesellschaft upped their price objective on AT&T from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. TheStreet upgraded AT&T from a “c” rating to a “b-” rating in a research note on Wednesday, January 24th. Tigress Financial upped their price objective on AT&T from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Finally, StockNews.com downgraded AT&T from a “buy” rating to a “hold” rating in a research note on Friday. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, AT&T currently has an average rating of “Moderate Buy” and a consensus price target of $20.81.

AT&T Price Performance

Shares of AT&T stock traded up $0.03 during trading on Friday, hitting $16.85. The stock had a trading volume of 24,023,192 shares, compared to its average volume of 41,324,028. The firm has a market cap of $120.52 billion, a price-to-earnings ratio of 9.06, a P/E/G ratio of 3.32 and a beta of 0.57. AT&T Inc. has a 12 month low of $13.43 and a 12 month high of $18.16. The business’s 50-day moving average is $16.97 and its 200 day moving average is $16.67. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.06.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, topping 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%. The business’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.60 earnings per share. As a group, sell-side analysts anticipate that AT&T Inc. will post 2.24 earnings per share for the current year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were paid a $0.2775 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a yield of 6.59%. AT&T’s dividend payout ratio is presently 59.68%.

AT&T Company 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.