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

Valley Wealth Managers Inc. decreased its stake in shares of AT&T Inc. (NYSE:T) by 12.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund 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 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new stake in AT&T in the 3rd quarter valued at approximately $25,000. Ritter Daniher Financial Advisory LLC DE grew its holdings in AT&T by 169.2% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after buying an additional 841 shares during the last quarter. YANKCOM Partnership acquired a new stake in AT&T in the 4th quarter valued at approximately $30,000. Endeavor Private Wealth Inc. acquired a new stake in AT&T in the 4th quarter valued at approximately $34,000. Finally, Reston Wealth Management LLC acquired a new stake in AT&T in the 3rd quarter valued at approximately $35,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on T. Evercore ISI raised their target price on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. The Goldman Sachs Group lifted their price objective on AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Tigress Financial lifted their price objective on AT&T from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Wells Fargo & Company decreased their price objective on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Finally, Citigroup lifted their price objective on AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and a consensus target price of $26.33.

AT&T Trading Up 1.0 %

Shares of T opened at $25.88 on Tuesday. The stock has a fifty day moving average price of $23.23 and a two-hundred day moving average price of $22.08. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $25.93. The company has a market cap of $185.66 billion, a price-to-earnings ratio of 17.37, a PEG ratio of 2.79 and a beta of 0.59.

AT&T (NYSE:T) last issued its quarterly earnings data 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 return on equity of 13.97% and a net margin of 8.95%. Analysts predict that AT&T Inc. will post 2.15 EPS for the current fiscal year.

AT&T Announces Dividend

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

AT&T 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.