Valley National Advisers Inc. Has $586,000 Stock Position in AT&T Inc. (NYSE:T)

Valley National Advisers Inc. cut its position in AT&T Inc. (NYSE:T) by 5.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,727 shares of the technology company’s stock after selling 1,131 shares during the quarter. Valley National Advisers Inc.’s holdings in AT&T were worth $586,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of AT&T by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company’s stock worth $14,637,914,000 after purchasing an additional 6,220,442 shares during the period. Geode Capital Management LLC grew its holdings in shares of AT&T by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 163,761,301 shares of the technology company’s stock worth $3,719,723,000 after purchasing an additional 2,640,644 shares in the last quarter. GQG Partners LLC increased its position in shares of AT&T by 37.3% during the fourth quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock valued at $2,203,667,000 after purchasing an additional 26,280,866 shares during the period. Norges Bank bought a new position in AT&T in the fourth quarter worth $1,858,418,000. Finally, Northern Trust Corp lifted its position in AT&T by 16.3% in the fourth quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company’s stock worth $1,779,438,000 after purchasing an additional 10,945,679 shares during the period. 57.10% of the stock is currently owned by institutional investors.

AT&T Price Performance

AT&T stock opened at $28.97 on Tuesday. The business’s 50-day simple moving average is $27.68 and its 200 day simple moving average is $26.01. The company has a quick ratio of 0.65, a current ratio of 0.70 and a debt-to-equity ratio of 0.98. The stock has a market cap of $208.46 billion, a price-to-earnings ratio of 17.77, a P/E/G ratio of 3.98 and a beta of 0.41. AT&T Inc. has a 12-month low of $18.14 and a 12-month high of $29.03.

AT&T (NYSE:T) last issued its earnings results on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). AT&T had a net margin of 9.64% and a return on equity of 13.63%. The business had revenue of $30.63 billion for the quarter, compared to the consensus estimate of $30.39 billion. During the same quarter in the previous year, the firm posted $0.55 EPS. The business’s revenue was up 2.0% on a year-over-year basis. As a group, research analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be issued a $0.2775 dividend. The ex-dividend date is Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 3.83%. AT&T’s dividend payout ratio is presently 68.10%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Royal Bank Of Canada upped their target price on shares of AT&T from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Oppenheimer increased their price objective on AT&T from $27.00 to $32.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 1st. Williams Trading set a $30.00 price objective on AT&T in a report on Thursday, April 24th. Evercore ISI boosted their target price on shares of AT&T from $25.00 to $27.00 and gave the company an “in-line” rating in a research note on Thursday, April 24th. Finally, Scotiabank reiterated an “outperform” rating on shares of AT&T in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $28.90.

AT&T Company 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.