AT&T Inc. (NYSE:T) Stock Holdings Cut by Hudson Valley Investment Advisors Inc. ADV

Hudson Valley Investment Advisors Inc. ADV lessened its position in AT&T Inc. (NYSE:T) by 10.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 36,897 shares of the technology company’s stock after selling 4,370 shares during the quarter. Hudson Valley Investment Advisors Inc. ADV’s holdings in AT&T were worth $840,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Legacy Investment Solutions LLC acquired a new position in AT&T in the third quarter worth approximately $25,000. Ritter Daniher Financial Advisory LLC DE grew its holdings in shares of AT&T by 169.2% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after acquiring an additional 841 shares during the last quarter. Safe Harbor Fiduciary LLC acquired a new stake in shares of AT&T during the third quarter worth $35,000. Reston Wealth Management LLC acquired a new position in shares of AT&T in the 3rd quarter valued at $35,000. Finally, Altshuler Shaham Ltd purchased a new position in AT&T in the 2nd quarter worth about $30,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Price Performance

T opened at $22.20 on Friday. The firm has a market cap of $159.29 billion, a P/E ratio of 18.05, a price-to-earnings-growth ratio of 3.60 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The business has a 50 day moving average price of $22.82 and a 200 day moving average price of $21.18. AT&T Inc. has a twelve month low of $15.94 and a twelve month 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, topping analysts’ consensus estimates of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. During the same period in the previous year, the company earned $0.64 earnings per share. AT&T’s revenue for the quarter was down .5% on a year-over-year basis. Research analysts forecast that AT&T Inc. will post 2.19 EPS for the current year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be given a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 5.00%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s dividend payout ratio is currently 90.24%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. The Goldman Sachs Group upped their price objective on shares of AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Barclays raised their price objective on shares of AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Wells Fargo & Company cut their target price on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. JPMorgan Chase & Co. raised their target price on AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Finally, Morgan Stanley upgraded AT&T from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $19.00 to $28.00 in a research report on Monday, December 16th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $25.76.

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.