Great Valley Advisor Group Inc. Has $1.47 Million Holdings in AT&T Inc. (NYSE:T)

Great Valley Advisor Group Inc. increased its holdings in AT&T Inc. (NYSE:T) by 19.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,883 shares of the technology company’s stock after buying an additional 10,854 shares during the period. Great Valley Advisor Group Inc.’s holdings in AT&T were worth $1,472,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on T shares. Scotiabank cut AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Citigroup boosted their target price on AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Barclays increased their target price on shares of AT&T from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. Finally, Tigress Financial increased their price objective on shares of AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, September 27th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $23.40.

AT&T Stock Performance

Shares of AT&T stock opened at $23.10 on Tuesday. The stock has a market cap of $165.75 billion, a price-to-earnings ratio of 18.78, a P/E/G ratio of 3.48 and a beta of 0.59. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $23.32. The company’s fifty day moving average is $22.04 and its 200 day moving average is $20.00. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The firm had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. During the same quarter in the previous year, the company posted $0.64 EPS. The business’s revenue was down .5% on a year-over-year basis. Sell-side analysts forecast that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.81%. The ex-dividend date was Thursday, October 10th. AT&T’s dividend payout ratio is presently 90.24%.

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.