AT&T Inc. (NYSE:T) Position Decreased by Valeo Financial Advisors LLC

Valeo Financial Advisors LLC trimmed its stake in shares of AT&T Inc. (NYSE:T) by 3.8% in the 1st quarter, HoldingsChannel reports. The firm owned 160,478 shares of the technology company’s stock after selling 6,329 shares during the quarter. Valeo Financial Advisors LLC’s holdings in AT&T were worth $2,824,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Pineridge Advisors LLC acquired a new stake in shares of AT&T during the 4th quarter valued at about $25,000. Frank Rimerman Advisors LLC acquired a new stake in shares of AT&T in the fourth quarter valued at about $25,000. Ramirez Asset Management Inc. acquired a new position in shares of AT&T during the 3rd quarter worth about $30,000. Western Pacific Wealth Management LP acquired a new stake in AT&T in the 4th quarter valued at approximately $39,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA boosted its position in shares of AT&T by 35.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock valued at $39,000 after acquiring an additional 606 shares during the period. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Price Performance

NYSE T traded down $0.14 on Wednesday, hitting $18.68. 14,950,052 shares of the company were exchanged, compared to its average volume of 36,682,863. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.06. The company has a market cap of $133.94 billion, a P/E ratio of 10.13, a P/E/G ratio of 4.34 and a beta of 0.58. AT&T Inc. has a 1-year low of $13.43 and a 1-year high of $19.32. The firm has a 50 day moving average of $17.67 and a two-hundred day moving average of $17.21.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02. The business had revenue of $30.03 billion for the quarter, compared to analysts’ expectations of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. AT&T’s revenue 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. On average, equities analysts predict that AT&T Inc. will post 2.24 EPS for the current year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be given a dividend of $0.2775 per share. The ex-dividend date is Wednesday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.94%. AT&T’s payout ratio is presently 59.68%.

Analyst Upgrades and Downgrades

T has been the topic of several research reports. Barclays upgraded AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price target on the stock in a research note on Monday, April 29th. Scotiabank raised their target price on AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a research report on Thursday, April 25th. The Goldman Sachs Group assumed coverage on shares of AT&T in a report on Monday. They issued a “buy” rating and a $22.00 price target on the stock. UBS Group reaffirmed a “buy” rating and set a $24.00 price objective on shares of AT&T in a report on Tuesday, June 18th. Finally, Wolfe Research raised shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research note on Tuesday, March 5th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, AT&T has an average rating of “Moderate Buy” and a consensus price target of $21.73.

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.