Hoylecohen LLC Sells 17,064 Shares of AT&T Inc. (NYSE:T)

Hoylecohen LLC lowered its stake in AT&T Inc. (NYSE:T) by 34.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,899 shares of the technology company’s stock after selling 17,064 shares during the quarter. Hoylecohen LLC’s holdings in AT&T were worth $629,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in T. Vanguard Group Inc. grew its position in shares of AT&T by 0.4% during the first quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock worth $10,999,912,000 after purchasing an additional 2,588,539 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in AT&T by 5.6% in the 1st quarter. Bank of New York Mellon Corp now owns 75,484,518 shares of the technology company’s stock valued at $1,328,528,000 after acquiring an additional 4,014,873 shares during the last quarter. Norges Bank purchased a new stake in AT&T in the 4th quarter worth $1,118,288,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of AT&T by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 50,589,421 shares of the technology company’s stock valued at $848,888,000 after purchasing an additional 798,024 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of AT&T by 2.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 47,377,267 shares of the technology company’s stock valued at $794,978,000 after purchasing an additional 1,137,792 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Daiwa America upgraded shares of AT&T to a “hold” rating in a research report on Friday, July 26th. UBS Group restated a “buy” rating and set a $24.00 target price on shares of AT&T in a research report on Tuesday, June 18th. Scotiabank cut AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. StockNews.com lowered AT&T from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. Finally, TD Cowen increased their price target on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and a consensus price target of $22.06.

AT&T Stock Performance

AT&T stock traded up $0.25 during mid-day trading on Friday, hitting $19.34. The company had a trading volume of 24,724,429 shares, compared to its average volume of 37,142,744. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. The company’s fifty day moving average is $18.78 and its 200-day moving average is $17.73. AT&T Inc. has a 12-month low of $13.92 and a 12-month high of $19.99. The company has a market capitalization of $138.67 billion, a price-to-earnings ratio of 10.40, a P/E/G ratio of 3.31 and a beta of 0.58.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting the consensus estimate of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The firm had revenue of $29.80 billion during the quarter, compared to analyst estimates of $30.05 billion. During the same quarter in the previous year, the business earned $0.63 EPS. AT&T’s revenue for the quarter was down .3% compared to the same quarter last year. Equities research analysts predict that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were given a $0.2775 dividend. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.74%. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

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.