Hoge Financial Services LLC Reduces Holdings in AT&T Inc. (NYSE:T)

Hoge Financial Services LLC decreased its position in AT&T Inc. (NYSE:T) by 26.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,324 shares of the technology company’s stock after selling 2,625 shares during the period. Hoge Financial Services LLC’s holdings in AT&T were worth $207,000 as of its most recent SEC filing.

Several 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% in the 1st quarter. Next Level Private LLC now owns 113,379 shares of the technology company’s stock valued at $3,206,000 after buying an additional 379 shares during the period. Carolinas Wealth Consulting LLC grew its stake in shares of AT&T by 1.6% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company’s stock valued at $550,000 after buying an additional 384 shares during the period. Kozak & Associates Inc. boosted its position in shares of AT&T by 9.4% during the 1st quarter. Kozak & Associates Inc. now owns 4,617 shares of the technology company’s stock worth $126,000 after purchasing an additional 398 shares during the period. Firethorn Wealth Partners LLC boosted its position in shares of AT&T by 4.1% during the 1st quarter. Firethorn Wealth Partners LLC now owns 10,114 shares of the technology company’s stock worth $286,000 after purchasing an additional 399 shares during the period. Finally, Charter Oak Capital Management LLC boosted its position in shares of AT&T by 2.7% during 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 period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Evercore ISI increased their price objective on shares of AT&T from $25.00 to $27.00 and gave the stock an “in-line” rating in a research report on Thursday, April 24th. Oppenheimer increased their price objective on shares of AT&T from $27.00 to $32.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 1st. Cowen reaffirmed a “hold” rating on shares of AT&T in a research report on Thursday, April 24th. Scotiabank reiterated an “outperform” rating on shares of AT&T in a research note on Thursday, April 24th. Finally, TD Securities boosted their price target on shares of AT&T from $29.00 to $30.00 and gave the stock a “hold” rating in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, AT&T has an average rating of “Moderate Buy” and an average price target of $28.71.

AT&T Price Performance

AT&T stock opened at $27.65 on Wednesday. The stock has a market cap of $198.92 billion, a P/E ratio of 16.96, a price-to-earnings-growth ratio of 3.89 and a beta of 0.41. The company has a fifty day simple moving average of $27.47 and a 200-day simple moving average of $25.71. AT&T Inc. has a 12-month low of $17.86 and a 12-month high of $29.03. The company has a current ratio of 0.70, a quick ratio of 0.65 and a debt-to-equity ratio of 0.98.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). The firm had revenue of $30.63 billion for the quarter, compared to analysts’ expectations of $30.39 billion. AT&T had a return on equity of 13.63% and a net margin of 9.64%. AT&T’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period last year, the firm posted $0.55 earnings per share. Equities analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th were given a dividend of $0.2775 per share. The ex-dividend date was Thursday, April 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.02%. AT&T’s dividend payout ratio (DPR) is currently 68.10%.

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.