Valley Wealth Managers Inc. Has $4.12 Million Stock Position in AT&T Inc. (NYSE:T)

Valley Wealth Managers Inc. reduced its position in AT&T Inc. (NYSE:T) by 12.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 180,967 shares of the technology company’s stock after selling 25,252 shares during the period. Valley Wealth Managers Inc.’s holdings in AT&T were worth $4,121,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new stake in shares of AT&T during the fourth quarter worth $14,700,000. Swiss National Bank grew its stake in shares of AT&T by 0.5% during the third quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock worth $468,217,000 after purchasing an additional 104,700 shares during the period. Franklin Resources Inc. grew its stake in shares of AT&T by 41.4% during the third quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock worth $168,969,000 after purchasing an additional 2,326,904 shares during the period. Consolidated Planning Corp grew its stake in shares of AT&T by 7.4% during the fourth quarter. Consolidated Planning Corp now owns 320,089 shares of the technology company’s stock worth $7,288,000 after purchasing an additional 21,927 shares during the period. Finally, Caprock Group LLC grew its stake in shares of AT&T by 18.3% during the third quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock worth $4,312,000 after purchasing an additional 30,281 shares during the period. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Performance

T opened at $25.88 on Tuesday. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $25.93. The firm has a market capitalization of $185.66 billion, a PE ratio of 17.37, a PEG ratio of 2.79 and a beta of 0.59. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. The business’s 50-day simple moving average is $23.23 and its 200 day simple moving average is $22.08.

AT&T (NYSE:T) last released its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. As a group, sell-side analysts expect that AT&T Inc. will post 2.15 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were paid a $0.2775 dividend. The ex-dividend date was Friday, January 10th. This represents a $1.11 annualized dividend and a yield of 4.29%. AT&T’s dividend payout ratio is 74.50%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on T shares. JPMorgan Chase & Co. boosted their target price on AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Morgan Stanley raised AT&T from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $19.00 to $28.00 in a research note on Monday, December 16th. Citigroup boosted their target price on AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. The Goldman Sachs Group boosted their target price on AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Finally, New Street Research raised AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.33.

AT&T Company Profile

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.