Valley Brook Capital Group Inc. Sells 6,400 Shares of AT&T Inc. (NYSE:T)

Valley Brook Capital Group Inc. reduced its holdings in AT&T Inc. (NYSE:T) by 41.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,200 shares of the technology company’s stock after selling 6,400 shares during the quarter. Valley Brook Capital Group Inc.’s holdings in AT&T were worth $202,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Socha Financial Group LLC increased its holdings in AT&T by 2.5% in the third quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock valued at $415,000 after purchasing an additional 461 shares during the period. Hayek Kallen Investment Management increased its stake in shares of AT&T by 0.8% in the third quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company’s stock valued at $1,326,000 after buying an additional 500 shares during the period. Lake Street Advisors Group LLC raised its position in shares of AT&T by 0.7% during the third quarter. Lake Street Advisors Group LLC now owns 73,562 shares of the technology company’s stock worth $1,618,000 after acquiring an additional 513 shares during the last quarter. Spinnaker Trust boosted its holdings in AT&T by 0.4% in the third quarter. Spinnaker Trust now owns 124,593 shares of the technology company’s stock valued at $2,741,000 after acquiring an additional 515 shares during the last quarter. Finally, Octavia Wealth Advisors LLC increased its position in AT&T by 2.1% during the 2nd quarter. Octavia Wealth Advisors LLC now owns 25,313 shares of the technology company’s stock valued at $484,000 after purchasing an additional 519 shares during the period. 57.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Daiwa America upgraded shares of AT&T to a “hold” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. upped their price target on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Oppenheimer raised their price objective on shares of AT&T from $23.00 to $24.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Moffett Nathanson increased their target price on shares of AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Finally, Citigroup lifted their price target on shares of AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and an average target price of $23.40.

AT&T Stock Down 1.1 %

NYSE:T traded down $0.25 on Thursday, hitting $22.07. The stock had a trading volume of 4,656,789 shares, compared to its average volume of 35,518,164. The firm’s fifty day simple moving average is $21.61 and its two-hundred day simple moving average is $19.46. The stock has a market cap of $158.36 billion, a P/E ratio of 18.15, a price-to-earnings-growth ratio of 3.29 and a beta of 0.59. AT&T Inc. has a 1 year low of $15.46 and a 1 year high of $22.73. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The firm had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. During the same period in the previous year, the company earned $0.64 earnings per share. The company’s quarterly revenue was down .5% on a year-over-year basis. Analysts predict that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 5.03%. The ex-dividend date was Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is 90.24%.

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.