Valley National Advisers Inc. Sells 1,465 Shares of AT&T Inc. (NYSE:T)

Valley National Advisers Inc. reduced its position in shares of AT&T Inc. (NYSE:T) by 4.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,917 shares of the technology company’s stock after selling 1,465 shares during the period. Valley National Advisers Inc.’s holdings in AT&T were worth $889,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in AT&T by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 567,066,411 shares of the technology company’s stock valued at $16,320,170,000 after purchasing an additional 5,314,844 shares during the period. BlackRock Inc. raised its stake in shares of AT&T by 2.3% in the 3rd quarter. BlackRock Inc. now owns 520,767,902 shares of the technology company’s stock valued at $14,065,940,000 after buying an additional 11,916,885 shares in the last quarter. State Street Corp raised its stake in shares of AT&T by 3.1% in the 2nd quarter. State Street Corp now owns 296,845,308 shares of the technology company’s stock valued at $8,543,208,000 after buying an additional 8,812,329 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of AT&T by 2.9% in the 2nd quarter. Geode Capital Management LLC now owns 119,066,979 shares of the technology company’s stock valued at $3,417,013,000 after buying an additional 3,364,659 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of AT&T by 2.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 58,465,265 shares of the technology company’s stock valued at $1,682,572,000 after buying an additional 1,394,576 shares in the last quarter. 51.96% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have recently issued reports on the stock. Citigroup dropped their price objective on shares of AT&T from $31.00 to $29.00 and set a “buy” rating for the company in a research note on Tuesday, December 7th. Truist reissued a “hold” rating and set a $26.00 price objective on shares of AT&T in a report on Monday, December 6th. KeyCorp raised shares of AT&T from an “underweight” rating to a “sector weight” rating in a report on Thursday, October 14th. Barclays raised shares of AT&T from an “equal weight” rating to an “overweight” rating and set a $30.00 price objective on the stock in a report on Monday, December 20th. Finally, Wells Fargo & Company raised shares of AT&T from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $26.00 to $27.00 in a report on Friday, January 7th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, AT&T presently has an average rating of “Hold” and an average price target of $29.90.

T traded down $0.06 during trading on Friday, reaching $26.74. 553,510 shares of the stock were exchanged, compared to its average volume of 60,236,184. The stock has a market cap of $190.92 billion, a P/E ratio of 223.35, a price-to-earnings-growth ratio of 2.23 and a beta of 0.72. AT&T Inc. has a twelve month low of $22.02 and a twelve month high of $33.88. The stock’s 50 day moving average price is $24.45 and its two-hundred day moving average price is $26.33. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.66 and a current ratio of 0.70.

AT&T (NYSE:T) last issued its earnings results on Wednesday, October 20th. The technology company reported $0.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.09. AT&T had a net margin of 0.67% and a return on equity of 13.47%. The business had revenue of $39.90 billion for the quarter, compared to the consensus estimate of $42.37 billion. During the same period in the previous year, the company earned $0.76 earnings per share. The firm’s revenue for the quarter was down 6.0% on a year-over-year basis. Equities research analysts predict that AT&T Inc. will post 3.45 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 1st. Investors of record on Monday, January 10th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 7.78%. The ex-dividend date of this dividend is Friday, January 7th. AT&T’s payout ratio is presently 1,733.48%.

In other news, Director Stephen J. Luczo acquired 100,000 shares of the firm’s stock in a transaction that occurred on Monday, November 8th. The stock was bought at an average price of $25.04 per share, with a total value of $2,504,000.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.08% of the stock is currently owned by corporate insiders.

AT&T Company Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications media and technology service. It operates through the following segments: Communications, WarnerMedia, and Latin America. The Communications segment provides services to businesses and consumers located in the U.S., or in U.S.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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