HBC Financial Services PLLC Trims Position in AT&T Inc. (NYSE:T)

HBC Financial Services PLLC lessened its stake in AT&T Inc. (NYSE:T) by 5.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,917 shares of the technology company’s stock after selling 943 shares during the period. AT&T accounts for about 0.2% of HBC Financial Services PLLC’s portfolio, making the stock its 23rd largest position. HBC Financial Services PLLC’s holdings in AT&T were worth $286,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of AT&T in the 4th quarter valued at about $1,118,288,000. Thornburg Investment Management Inc. bought a new stake in shares of AT&T in the 4th quarter valued at about $316,472,000. Kodai Capital Management LP bought a new stake in shares of AT&T in the 4th quarter valued at about $152,109,000. Point72 Asset Management L.P. boosted its holdings in shares of AT&T by 120.8% in the 4th quarter. Point72 Asset Management L.P. now owns 9,086,854 shares of the technology company’s stock valued at $152,477,000 after buying an additional 4,970,954 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of 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 buying an additional 4,014,873 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on T shares. The Goldman Sachs Group started coverage on shares of AT&T in a research report on Monday, July 1st. They set a “buy” rating and a $22.00 target price on the stock. Royal Bank of Canada reissued a “sector perform” rating and set a $18.00 target price on shares of AT&T in a research report on Wednesday. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Scotiabank lifted their price objective on shares of AT&T from $22.50 to $23.00 and gave the company a “sector outperform” rating in a research note on Wednesday. Finally, UBS Group restated a “buy” rating and set a $24.00 price objective on shares of AT&T in a research note on Tuesday, June 18th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.85.

AT&T Stock Performance

Shares of T traded down $0.06 during mid-day trading on Friday, reaching $18.80. 18,431,607 shares of the company’s stock were exchanged, compared to its average volume of 36,244,777. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.63. The stock has a market capitalization of $134.80 billion, a PE ratio of 10.04, a price-to-earnings-growth ratio of 3.54 and a beta of 0.58. The business’s fifty day simple moving average is $17.94 and its 200-day simple moving average is $17.31. AT&T Inc. has a 52-week low of $13.43 and a 52-week high of $19.32.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The company had revenue of $30.03 billion during the quarter, compared to analysts’ expectations of $30.62 billion. During the same period last year, the firm earned $0.60 EPS. The firm’s revenue for the quarter was down .4% on a year-over-year basis. On average, equities research analysts expect that AT&T Inc. will post 2.23 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be paid a $0.2775 dividend. The ex-dividend date is Wednesday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.90%. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

AT&T Company 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.