Pine Valley Investments Ltd Liability Co Sells 2,803 Shares of AT&T Inc. (NYSE:T)

Pine Valley Investments Ltd Liability Co reduced its stake in AT&T Inc. (NYSE:T) by 2.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,671 shares of the technology company’s stock after selling 2,803 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in AT&T were worth $2,884,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Tradewinds Capital Management LLC boosted its stake in shares of AT&T by 48.6% during the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock valued at $30,000 after purchasing an additional 430 shares in the last quarter. Wealthstream Advisors Inc. boosted its stake in shares of AT&T by 3.7% during the fourth quarter. Wealthstream Advisors Inc. now owns 12,383 shares of the technology company’s stock valued at $282,000 after purchasing an additional 444 shares in the last quarter. Northeast Investment Management boosted its stake in shares of AT&T by 0.9% during the fourth quarter. Northeast Investment Management now owns 51,198 shares of the technology company’s stock valued at $1,166,000 after purchasing an additional 451 shares in the last quarter. Chesapeake Wealth Management boosted its stake in shares of AT&T by 1.9% during the third quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock valued at $535,000 after purchasing an additional 460 shares in the last quarter. Finally, Luts & Greenleigh Group Inc. boosted its stake in shares of AT&T by 2.8% during the fourth quarter. Luts & Greenleigh Group Inc. now owns 16,905 shares of the technology company’s stock valued at $385,000 after purchasing an additional 460 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Down 0.4 %

NYSE:T opened at $26.65 on Wednesday. The firm has a market capitalization of $191.26 billion, a P/E ratio of 17.88, a PEG ratio of 3.00 and a beta of 0.59. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $27.16. The company’s fifty day moving average price is $23.65 and its 200-day moving average price is $22.43. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62.

AT&T (NYSE:T) last released its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. As a group, equities research analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were issued a $0.2775 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.17%. AT&T’s payout ratio is 74.50%.

Analyst Ratings Changes

A number of equities research analysts recently commented on T shares. Morgan Stanley raised shares of AT&T from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $19.00 to $28.00 in a research report on Monday, December 16th. DZ Bank raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research report on Wednesday, January 29th. Tigress Financial increased their target price on shares of AT&T from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. UBS Group increased their target price on shares of AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Finally, JPMorgan Chase & Co. increased their target price on shares of AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $26.33.

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.