AT&T Inc. (NYSE:T) Shares Sold by Valeo Financial Advisors LLC

Valeo Financial Advisors LLC lowered its position in AT&T Inc. (NYSE:T) by 2.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 143,995 shares of the technology company’s stock after selling 4,298 shares during the quarter. Valeo Financial Advisors LLC’s holdings in AT&T were worth $3,168,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in AT&T by 0.4% in the first quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock valued at $10,999,912,000 after purchasing an additional 2,588,539 shares during the period. Bank of New York Mellon Corp increased its position in shares of 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 acquiring an additional 5,592,123 shares during the last quarter. Legal & General Group Plc increased its position in shares of AT&T by 2.7% during the second quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock worth $1,148,689,000 after acquiring an additional 1,569,374 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of AT&T by 2.0% during the second quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock worth $985,307,000 after acquiring an additional 1,007,228 shares during the last quarter. Finally, LSV Asset Management increased its position in shares of AT&T by 1.1% during the second quarter. LSV Asset Management now owns 30,092,610 shares of the technology company’s stock worth $575,070,000 after acquiring an additional 315,580 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on T shares. Evercore ISI lifted their target price on AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft lifted their target price on AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. JPMorgan Chase & Co. lifted their target price on AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Moffett Nathanson lifted their price target on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Finally, Daiwa America upgraded AT&T to a “hold” rating in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $22.38.

AT&T Trading Up 0.7 %

AT&T stock opened at $21.37 on Friday. The company’s fifty day simple moving average is $20.71 and its 200-day simple moving average is $18.83. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. AT&T Inc. has a 12 month low of $14.23 and a 12 month high of $22.34. The stock has a market cap of $153.23 billion, a P/E ratio of 12.28, a P/E/G ratio of 3.74 and a beta of 0.60.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, meeting the consensus estimate of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The business had revenue of $29.80 billion for the quarter, compared to analysts’ expectations of $30.05 billion. During the same period in the previous year, the company posted $0.63 EPS. AT&T’s revenue was down .3% on a year-over-year basis. As a group, sell-side analysts forecast that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 5.19%. The ex-dividend date is Thursday, October 10th. AT&T’s dividend payout ratio is currently 63.79%.

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.