Oliver Lagore Vanvalin Investment Group Sells 2,582 Shares of AT&T Inc. (NYSE:T)

Oliver Lagore Vanvalin Investment Group cut its holdings in shares of AT&T Inc. (NYSE:T) by 37.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,365 shares of the technology company’s stock after selling 2,582 shares during the period. Oliver Lagore Vanvalin Investment Group’s holdings in AT&T were worth $73,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Carmel Capital Partners LLC boosted its holdings in AT&T by 16,250.0% during the third quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock worth $25,000 after purchasing an additional 1,625 shares during the last quarter. Lipe & Dalton purchased a new position in AT&T during the third quarter worth about $30,000. Ramirez Asset Management Inc. purchased a new position in AT&T during the third quarter worth about $30,000. FWL Investment Management LLC purchased a new position in AT&T during the fourth quarter worth about $31,000. Finally, Financial Freedom LLC purchased a new position in AT&T during the fourth quarter worth about $34,000. 57.10% of the stock is owned by institutional investors.

AT&T Stock Performance

AT&T stock opened at $16.33 on Friday. The firm’s 50 day simple moving average is $17.01 and its 200 day simple moving average is $16.48. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $116.81 billion, a PE ratio of 8.33, a price-to-earnings-growth ratio of 2.43 and a beta of 0.57. AT&T Inc. has a 1-year low of $13.43 and a 1-year high of $19.83.

AT&T (NYSE:T) last posted its earnings results on Wednesday, January 24th. The technology company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). The firm had revenue of $32 billion for the quarter, compared to the consensus estimate of $31.44 billion. AT&T had a return on equity of 15.39% and a net margin of 11.76%. The business’s revenue was up 2.2% on a year-over-year basis. During the same period last year, the company posted $0.61 EPS. As a group, analysts expect that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 6.80%. The ex-dividend date is Tuesday, April 9th. AT&T’s dividend payout ratio (DPR) is presently 56.63%.

Analysts Set New Price Targets

T has been the topic of several analyst reports. Royal Bank of Canada restated a “sector perform” rating and set a $17.00 price target on shares of AT&T in a report on Thursday, April 11th. Oppenheimer upgraded shares of AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research note on Friday, January 19th. JPMorgan Chase & Co. upgraded shares of AT&T from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $18.00 to $21.00 in a research note on Thursday, February 1st. Deutsche Bank Aktiengesellschaft boosted their target price on shares of AT&T from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Finally, Citigroup boosted their target price on shares of AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $20.68.

AT&T Profile

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.