AT&T Inc. (NYSE:T) Shares Sold by Valley Wealth Managers Inc.

Valley Wealth Managers Inc. lowered its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 12.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 180,967 shares of the technology company's stock after selling 25,252 shares during the quarter. Valley Wealth Managers Inc.'s holdings in AT&T were worth $4,121,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of T. Geode Capital Management LLC increased its position in shares of AT&T by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company's stock valued at $3,532,684,000 after purchasing an additional 3,630,972 shares during the last quarter. Franklin Resources Inc. increased its position 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 valued at $168,969,000 after purchasing an additional 2,326,904 shares during the last quarter. National Pension Service increased its position in shares of AT&T by 15.8% during the 3rd quarter. National Pension Service now owns 15,769,707 shares of the technology company's stock valued at $346,934,000 after purchasing an additional 2,152,016 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of AT&T by 112.9% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,916,698 shares of the technology company's stock valued at $64,167,000 after purchasing an additional 1,546,679 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its holdings in AT&T by 7.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 17,218,490 shares of the technology company's stock valued at $378,807,000 after acquiring an additional 1,206,330 shares during the period. Institutional investors own 57.10% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on T. Evercore ISI boosted their price objective on AT&T from $19.00 to $21.00 and gave the company an "in-line" rating in a report on Thursday, October 24th. JPMorgan Chase & Co. boosted their price objective on AT&T from $25.00 to $28.00 and gave the company an "overweight" rating in a report on Wednesday, December 4th. UBS Group boosted their price objective on AT&T from $25.00 to $30.00 and gave the company a "buy" rating in a report on Thursday, December 19th. The Goldman Sachs Group boosted their price objective on AT&T from $25.00 to $28.00 and gave the company a "buy" rating in a report on Thursday, December 5th. Finally, DZ Bank upgraded AT&T from a "hold" rating to a "buy" rating and set a $27.00 price objective for the company in a report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $26.33.

AT&T Stock Up 1.9 %

Shares of T traded up $0.49 during trading hours on Friday, hitting $26.64. The company had a trading volume of 58,384,223 shares, compared to its average volume of 38,439,449. The company's fifty day moving average price is $23.50 and its two-hundred day moving average price is $22.28. AT&T Inc. has a one year low of $15.94 and a one year high of $26.72. The company has a market capitalization of $191.19 billion, a PE ratio of 17.88, a price-to-earnings-growth ratio of 3.01 and a beta of 0.59. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00.

AT&T (NYSE:T - Get Free Report) last announced its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. As a group, equities analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.17%. The ex-dividend date was Friday, January 10th. AT&T's dividend payout ratio is currently 74.50%.

About AT&T

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.