Hoylecohen LLC Cuts Holdings in AT&T Inc. (NYSE:T)

Hoylecohen LLC decreased its position in AT&T Inc. (NYSE:TGet Rating) by 17.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 161,884 shares of the technology company’s stock after selling 33,158 shares during the period. Hoylecohen LLC’s holdings in AT&T were worth $3,982,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Invenomic Capital Management LP purchased a new position in AT&T in the fourth quarter valued at $11,631,000. Geode Capital Management LLC increased its stake in shares of AT&T by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 123,218,974 shares of the technology company’s stock worth $3,023,357,000 after purchasing an additional 1,913,245 shares in the last quarter. Renaissance Group LLC increased its stake in shares of AT&T by 12.3% during the fourth quarter. Renaissance Group LLC now owns 24,836 shares of the technology company’s stock worth $611,000 after purchasing an additional 2,711 shares in the last quarter. PFS Investments Inc. increased its stake in shares of AT&T by 12.0% during the fourth quarter. PFS Investments Inc. now owns 663,852 shares of the technology company’s stock worth $16,331,000 after purchasing an additional 70,935 shares in the last quarter. Finally, Cibc World Markets Corp increased its stake in shares of AT&T by 24.7% during the fourth quarter. Cibc World Markets Corp now owns 2,277,937 shares of the technology company’s stock worth $56,037,000 after purchasing an additional 450,709 shares in the last quarter. 53.47% of the stock is owned by institutional investors.

NYSE:T traded up $0.19 during trading hours on Friday, reaching $20.40. 47,415,765 shares of the company’s stock were exchanged, compared to its average volume of 54,620,808. The firm has a market capitalization of $146.04 billion, a price-to-earnings ratio of 8.61, a P/E/G ratio of 2.23 and a beta of 0.58. The company has a 50-day moving average of $21.24 and a 200 day moving average of $23.36. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.97. AT&T Inc. has a 1-year low of $16.62 and a 1-year high of $22.82.

AT&T (NYSE:TGet Rating) last issued its quarterly earnings results on Thursday, April 21st. The technology company reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.01). AT&T had a return on equity of 13.19% and a net margin of 10.64%. The business had revenue of $38.10 billion for the quarter, compared to analyst estimates of $38.29 billion. During the same quarter in the prior year, the company earned $0.86 EPS. The firm’s revenue for the quarter was down 13.2% on a year-over-year basis. Research analysts forecast that AT&T Inc. will post 2.54 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 2nd. Investors of record on Thursday, April 14th were paid a $0.278 dividend. This represents a $1.11 annualized dividend and a dividend yield of 5.45%. The ex-dividend date was Wednesday, April 13th. AT&T’s dividend payout ratio (DPR) is 46.84%.

A number of analysts have recently commented on T shares. UBS Group cut their target price on shares of AT&T from $34.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, January 27th. Wolfe Research dropped their price objective on shares of AT&T from $29.00 to $27.00 and set a “peer perform” rating for the company in a research note on Thursday, January 27th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of AT&T from $30.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, April 11th. Citigroup dropped their price objective on shares of AT&T from $28.00 to $22.00 and set a “buy” rating for the company in a research note on Tuesday, April 12th. Finally, Cowen dropped their price objective on shares of AT&T from $33.00 to $29.00 and set a “market perform” rating for the company in a research note on Thursday, January 27th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $25.73.

AT&T Company Profile (Get Rating)

AT&T Inc provides telecommunications, media, and technology services worldwide. Its Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.

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