Valley Wealth Managers Inc. Sells 5,578 Shares of AT&T Inc. (NYSE:T)

Valley Wealth Managers Inc. lowered its stake in shares of AT&T Inc. (NYSE:T) by 2.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 206,219 shares of the technology company’s stock after selling 5,578 shares during the quarter. Valley Wealth Managers Inc.’s holdings in AT&T were worth $4,537,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of T. Orion Portfolio Solutions LLC lifted its holdings in shares of AT&T by 4.0% in the 1st quarter. Orion Portfolio Solutions LLC now owns 328,199 shares of the technology company’s stock worth $5,776,000 after buying an additional 12,591 shares during the period. Dorsey & Whitney Trust CO LLC raised its stake in AT&T by 27.9% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 44,033 shares of the technology company’s stock valued at $775,000 after buying an additional 9,602 shares during the last quarter. Motco raised its stake in AT&T by 22.3% in the first quarter. Motco now owns 10,774 shares of the technology company’s stock valued at $190,000 after buying an additional 1,963 shares during the last quarter. Tocqueville Asset Management L.P. raised its stake in AT&T by 2.5% in the first quarter. Tocqueville Asset Management L.P. now owns 71,279 shares of the technology company’s stock valued at $1,255,000 after buying an additional 1,716 shares during the last quarter. Finally, M&G Plc purchased a new stake in AT&T in the first quarter valued at about $9,074,000. Institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 0.1 %

AT&T stock traded up $0.02 during trading on Friday, hitting $22.27. The company had a trading volume of 5,089,962 shares, compared to its average volume of 35,349,324. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. AT&T Inc. has a 1-year low of $15.75 and a 1-year high of $22.73. The stock has a market cap of $159.79 billion, a price-to-earnings ratio of 18.08, a price-to-earnings-growth ratio of 3.35 and a beta of 0.59. The company’s 50 day simple moving average is $21.85 and its 200-day simple moving average is $19.67.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. The company had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The firm’s revenue was down .5% compared to the same quarter last year. During the same quarter last year, the company posted $0.64 EPS. As a group, analysts expect that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were paid a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.98%. AT&T’s dividend payout ratio is currently 90.24%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Scotiabank lowered AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Moffett Nathanson increased their price objective on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Hsbc Global Res raised AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. Evercore ISI increased their price objective on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. Finally, JPMorgan Chase & Co. increased their price objective on AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $23.40.

About AT&T

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.