Valley Brook Capital Group Inc. Sells 1,705 Shares of AT&T Inc. (NYSE:T)

Valley Brook Capital Group Inc. cut its position in shares of AT&T Inc. (NYSE:T) by 7.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,696 shares of the technology company’s stock after selling 1,705 shares during the period. Valley Brook Capital Group Inc.’s holdings in AT&T were worth $364,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Sora Investors LLC bought a new stake in shares of AT&T during the third quarter valued at approximately $11,265,000. Provence Wealth Management Group boosted its stake in AT&T by 55.8% in the 4th quarter. Provence Wealth Management Group now owns 16,217 shares of the technology company’s stock valued at $272,000 after buying an additional 5,807 shares in the last quarter. Checchi Capital Advisers LLC boosted its stake in AT&T by 3.1% in the 3rd quarter. Checchi Capital Advisers LLC now owns 38,929 shares of the technology company’s stock valued at $585,000 after buying an additional 1,178 shares in the last quarter. Retireful LLC acquired a new stake in AT&T in the 4th quarter valued at $1,163,000. Finally, Brighton Jones LLC boosted its stake in AT&T by 12.6% in the 4th quarter. Brighton Jones LLC now owns 46,265 shares of the technology company’s stock valued at $776,000 after buying an additional 5,161 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Trading Up 0.2 %

Shares of AT&T stock traded up $0.03 during trading hours on Friday, hitting $16.85. The company’s stock had a trading volume of 24,023,192 shares, compared to its average volume of 41,324,028. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.63. The company has a market capitalization of $120.52 billion, a PE ratio of 9.06, a price-to-earnings-growth ratio of 3.32 and a beta of 0.57. The stock has a 50 day moving average of $16.97 and a 200 day moving average of $16.67. AT&T Inc. has a 12 month low of $13.43 and a 12 month high of $18.16.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.02. The company had revenue of $30.03 billion during the quarter, compared to analysts’ expectations of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. AT&T’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.60 earnings per share. Analysts predict that AT&T Inc. will post 2.24 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were given a dividend of $0.2775 per share. The ex-dividend date was Tuesday, April 9th. This represents a $1.11 annualized dividend and a yield of 6.59%. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on T shares. Tigress Financial boosted their price objective on AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Deutsche Bank Aktiengesellschaft boosted their price objective on AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Scotiabank boosted their price objective on AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a research note on Thursday, April 25th. Royal Bank of Canada reissued a “sector perform” rating and issued a $17.00 price objective on shares of AT&T in a research note on Thursday, April 11th. Finally, Barclays raised AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price objective on the stock in a research note on Monday, April 29th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $20.81.

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.