Valmark Advisers Inc. Has $464,000 Stock Holdings in AT&T Inc. (NYSE:T)

Valmark Advisers Inc. lifted its holdings in shares of AT&T Inc. (NYSE:T) by 8.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 21,087 shares of the technology company’s stock after buying an additional 1,581 shares during the period. Valmark Advisers Inc.’s holdings in AT&T were worth $464,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mercer Global Advisors Inc. ADV increased its position in AT&T by 1,379.0% during the second quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock worth $270,581,000 after buying an additional 13,201,774 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of AT&T by 43.3% during the 2nd quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock worth $414,563,000 after acquiring an additional 6,602,586 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of AT&T by 7.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock valued at $1,549,375,000 after acquiring an additional 5,592,123 shares during the last quarter. Thornburg Investment Management Inc. raised its stake in shares of AT&T by 22.0% in the 2nd quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock valued at $477,528,000 after acquiring an additional 4,511,725 shares in the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new stake in AT&T in the 2nd quarter worth approximately $78,570,000. Institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on T shares. Barclays increased their price target on AT&T from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. TD Cowen raised their target price on shares of AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Moffett Nathanson raised their price target on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Finally, Citigroup boosted their price objective on AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. One investment 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 company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $23.40.

AT&T Trading Down 0.8 %

Shares of T stock opened at $22.01 on Thursday. The firm has a fifty day moving average of $21.36 and a 200-day moving average of $19.25. The stock has a market cap of $157.82 billion, a price-to-earnings ratio of 17.89, a P/E/G ratio of 3.74 and a beta of 0.60. AT&T Inc. has a 52-week low of $15.25 and a 52-week high of $22.58. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73.

AT&T (NYSE:T) last posted its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The business had revenue of $30.20 billion for 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 for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.64 earnings per share. On average, equities research analysts forecast that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be given a dividend of $0.2775 per share. The ex-dividend date is Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.04%. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

AT&T Company 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.