Valeo Financial Advisors LLC Sells 6,329 Shares of AT&T Inc. (NYSE:T)

Valeo Financial Advisors LLC trimmed its stake in AT&T Inc. (NYSE:T) by 3.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 160,478 shares of the technology company’s stock after selling 6,329 shares during the quarter. Valeo Financial Advisors LLC’s holdings in AT&T were worth $2,824,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Norges Bank bought a new position in AT&T in the 4th quarter valued at $1,118,288,000. Ameriprise Financial Inc. raised its position in shares of AT&T by 185.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 52,613,513 shares of the technology company’s stock valued at $790,301,000 after buying an additional 34,189,954 shares in the last quarter. Thornburg Investment Management Inc. bought a new stake in shares of AT&T during the 4th quarter worth $316,472,000. Kodai Capital Management LP purchased a new position in AT&T in the fourth quarter worth $152,109,000. Finally, Point72 Asset Management L.P. raised its position in AT&T by 120.8% during the fourth quarter. Point72 Asset Management L.P. now owns 9,086,854 shares of the technology company’s stock valued at $152,477,000 after purchasing an additional 4,970,954 shares in the last quarter. 57.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

T has been the topic of several recent research reports. The Goldman Sachs Group started coverage on AT&T in a research report on Monday. They set a “buy” rating and a $22.00 price objective on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $21.00 target price on shares of AT&T in a report on Tuesday, June 25th. Royal Bank of Canada reissued a “sector perform” rating and issued a $17.00 price target on shares of AT&T in a research note on Thursday, April 11th. Deutsche Bank Aktiengesellschaft raised their price objective on AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Finally, UBS Group reissued a “buy” rating and issued a $24.00 target price on shares of AT&T in a research note on Tuesday, June 18th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $21.73.

AT&T Stock Performance

T traded down $0.14 during midday trading on Wednesday, hitting $18.68. 14,950,052 shares of the company were exchanged, compared to its average volume of 36,682,863. AT&T Inc. has a 1-year low of $13.43 and a 1-year high of $19.32. The firm has a market capitalization of $133.94 billion, a price-to-earnings ratio of 10.13, a price-to-earnings-growth ratio of 4.34 and a beta of 0.58. The company’s 50 day simple moving average is $17.67 and its 200 day simple moving average is $17.21. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.06.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The business had revenue of $30.03 billion for the quarter, compared to analysts’ expectations of $30.62 billion. During the same quarter last year, the company earned $0.60 EPS. The business’s revenue was down .4% on a year-over-year basis. As a group, sell-side analysts predict that AT&T Inc. will post 2.24 earnings per share for the current year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be paid a dividend of $0.2775 per share. The ex-dividend date is Wednesday, July 10th. This represents a $1.11 annualized dividend and a yield of 5.94%. AT&T’s dividend payout ratio (DPR) is currently 59.68%.

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.