Valley Brook Capital Group Inc. Sells 6,400 Shares of AT&T Inc. (NYSE:T)

Valley Brook Capital Group Inc. decreased its holdings in shares of AT&T Inc. (NYSE:T) by 41.0% during the third quarter, HoldingsChannel reports. The fund owned 9,200 shares of the technology company’s stock after selling 6,400 shares during the quarter. Valley Brook Capital Group Inc.’s holdings in AT&T were worth $202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analyst Weigh In

Several research firms recently commented on T. Evercore ISI boosted their target price on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. Oppenheimer boosted their price objective on AT&T from $23.00 to $24.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Moffett Nathanson raised their target price on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Finally, Wells Fargo & Company decreased their price target on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and an average price target of $23.40.

AT&T Trading Down 1.1 %

Shares of NYSE T traded down $0.25 during midday trading on Thursday, reaching $22.07. The company had a trading volume of 4,656,789 shares, compared to its average volume of 35,518,164. The stock has a market cap of $158.36 billion, a PE ratio of 18.15, a price-to-earnings-growth ratio of 3.29 and a beta of 0.59. AT&T Inc. has a one year low of $15.46 and a one year high of $22.73. The firm’s fifty day moving average price is $21.61 and its 200-day moving average price is $19.46. 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 announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The business had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.64 EPS. On average, equities research analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were issued a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.03%. AT&T’s dividend payout ratio is currently 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.