Hexagon Capital Partners LLC Lowers Holdings in AT&T Inc. (NYSE:T)

Hexagon Capital Partners LLC lessened its stake in AT&T Inc. (NYSE:T) by 4.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,109 shares of the technology company’s stock after selling 2,656 shares during the quarter. Hexagon Capital Partners LLC’s holdings in AT&T were worth $1,445,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of T. Minot DeBlois Advisors LLC purchased a new position in AT&T in the 4th quarter worth about $25,000. Capital A Wealth Management LLC purchased a new position in AT&T in the 4th quarter worth about $25,000. Putney Financial Group LLC purchased a new position in AT&T in the 4th quarter worth about $27,000. Core Alternative Capital raised its position in AT&T by 125.4% in the 1st quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock worth $29,000 after buying an additional 568 shares during the last quarter. Finally, Ball & Co Wealth Management Inc. purchased a new position in AT&T in the 4th quarter worth about $30,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 0.1%

AT&T stock opened at $28.33 on Friday. The firm has a 50 day moving average of $27.79 and a 200 day moving average of $26.15. The firm has a market capitalization of $203.82 billion, a price-to-earnings ratio of 17.38, a P/E/G ratio of 4.02 and a beta of 0.42. AT&T Inc. has a 12-month low of $18.14 and a 12-month high of $29.19. 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 earnings results 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 during 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%. The company’s revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.55 earnings per share. As a group, research analysts predict that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be paid a dividend of $0.2775 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $1.11 annualized dividend and a yield of 3.92%. AT&T’s payout ratio is 68.10%.

Analysts Set New Price Targets

A number of brokerages have weighed in on T. Citigroup reissued a “buy” rating on shares of AT&T in a research report on Tuesday, June 17th. JPMorgan Chase & Co. boosted their target price on AT&T from $28.00 to $31.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. Evercore ISI boosted their target price on AT&T from $25.00 to $27.00 and gave the stock an “in-line” rating in a research report on Thursday, April 24th. TD Securities boosted their target price on AT&T from $29.00 to $30.00 and gave the stock a “hold” rating in a research report on Thursday, April 24th. Finally, Royal Bank Of Canada boosted their target price on AT&T from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $28.90.

About AT&T

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.