Hickory Point Bank & Trust Trims Stock Position in AT&T Inc. (NYSE:T)

Hickory Point Bank & Trust trimmed its position in AT&T Inc. (NYSE:T) by 59.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,366 shares of the technology company’s stock after selling 17,865 shares during the quarter. Hickory Point Bank & Trust’s holdings in AT&T were worth $350,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Next Level Private LLC grew its stake in shares of AT&T by 0.3% during the first quarter. Next Level Private LLC now owns 113,379 shares of the technology company’s stock worth $3,206,000 after purchasing an additional 379 shares in the last quarter. Carolinas Wealth Consulting LLC raised its stake in shares of AT&T by 1.6% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company’s stock valued at $550,000 after purchasing an additional 384 shares during the period. Firethorn Wealth Partners LLC increased its holdings in shares of AT&T by 4.1% in the 1st quarter. Firethorn Wealth Partners LLC now owns 10,114 shares of the technology company’s stock valued at $286,000 after acquiring an additional 399 shares during the last quarter. Charter Oak Capital Management LLC grew its position in AT&T by 2.7% in the 1st quarter. Charter Oak Capital Management LLC now owns 15,246 shares of the technology company’s stock worth $431,000 after purchasing an additional 408 shares during the last quarter. Finally, Buska Wealth Management LLC boosted its position in shares of AT&T by 3.2% during the 4th quarter. Buska Wealth Management LLC now owns 13,391 shares of the technology company’s stock valued at $305,000 after purchasing an additional 412 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

T stock opened at $28.09 on Friday. The business’s fifty day moving average is $27.32 and its 200-day moving average is $25.47. The company has a market cap of $202.12 billion, a P/E ratio of 18.85, a price-to-earnings-growth ratio of 3.00 and a beta of 0.41. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. AT&T Inc. has a twelve month low of $17.42 and a twelve month high of $29.03.

AT&T (NYSE:T) last announced its earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The company had revenue of $30.63 billion during the quarter, compared to analyst estimates of $30.39 billion. AT&T had a return on equity of 13.97% and a net margin of 8.95%. AT&T’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.55 earnings per share. Equities research analysts forecast 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 Thursday, May 1st. Stockholders of record on Thursday, April 10th were issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date was Thursday, April 10th. AT&T’s dividend payout ratio is presently 68.10%.

Analysts Set New Price Targets

T has been the topic of a number of research reports. Morgan Stanley reiterated an “overweight” rating and issued a $31.00 target price (up from $30.00) on shares of AT&T in a report on Thursday, April 24th. Scotiabank reaffirmed an “outperform” rating on shares of AT&T in a report on Thursday, April 24th. Barclays raised their price objective on AT&T from $27.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday, April 25th. Wall Street Zen upgraded AT&T from a “hold” rating to a “buy” rating in a research report on Friday, April 25th. Finally, JPMorgan Chase & Co. upped their price objective on shares of AT&T from $28.00 to $31.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $28.71.

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.