Central Valley Advisors LLC Lowers Stock Holdings in AT&T Inc. (NYSE:T)

Central Valley Advisors LLC cut its holdings in shares of AT&T Inc. (NYSE:T) by 11.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,109 shares of the technology company’s stock after selling 1,201 shares during the quarter. Central Valley Advisors LLC’s holdings in AT&T were worth $207,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Davidson Kempner Capital Management LP purchased a new position in shares of AT&T in the 2nd quarter worth $23,888,000. International Assets Investment Management LLC purchased a new position in shares of AT&T in the 4th quarter worth about $14,700,000. Swiss National Bank raised its holdings in shares of AT&T by 0.5% in the 3rd quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock worth $468,217,000 after purchasing an additional 104,700 shares during the period. Franklin Resources Inc. grew its holdings in shares of AT&T by 41.4% during the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock worth $168,969,000 after purchasing an additional 2,326,904 shares during the period. Finally, Caprock Group LLC increased its position in AT&T by 18.3% during the 3rd quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock worth $4,312,000 after purchasing an additional 30,281 shares in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Price Performance

Shares of NYSE T opened at $22.02 on Friday. The business’s fifty day moving average price is $22.79 and its two-hundred day moving average price is $21.28. The firm has a market capitalization of $157.96 billion, a PE ratio of 17.90, a P/E/G ratio of 3.46 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $24.03.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The firm had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. During the same period last year, the firm posted $0.64 EPS. AT&T’s quarterly revenue was down .5% compared to the same quarter last year. On average, research analysts expect that AT&T Inc. will post 2.2 EPS for the current year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be given a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 5.04%. The ex-dividend date is Friday, January 10th. AT&T’s dividend payout ratio is currently 90.24%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on T shares. Citigroup raised their price objective on AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Tigress Financial raised their target price on AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a report on Friday, September 27th. Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. Sanford C. Bernstein initiated coverage on shares of AT&T in a research report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price objective for the company. Finally, Morgan Stanley raised shares of AT&T from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $19.00 to $28.00 in a research report on Monday, December 16th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, AT&T currently has an average rating of “Moderate Buy” and an average target price of $25.83.

AT&T Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.