Patten Group Inc. boosted its holdings in shares of AT&T Inc. (NYSE:T) by 1.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 31,866 shares of the technology company’s stock after buying an additional 337 shares during the quarter. Patten Group Inc.’s holdings in AT&T were worth $1,245,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. JJJ Advisors Inc. acquired a new stake in shares of AT&T during the 3rd quarter worth approximately $27,000. Bourgeon Capital Management LLC acquired a new stake in shares of AT&T during the 3rd quarter worth approximately $45,000. Fulcrum Equity Management acquired a new stake in shares of AT&T during the 3rd quarter worth approximately $51,000. Corbenic Partners LLC acquired a new stake in shares of AT&T during the 4th quarter worth approximately $54,000. Finally, Quantum Capital Management acquired a new stake in shares of AT&T during the 3rd quarter worth approximately $57,000. 53.60% of the stock is owned by institutional investors.
A number of brokerages have recently commented on T. HSBC cut shares of AT&T from a “buy” rating to a “hold” rating and set a $42.00 price objective on the stock. in a research note on Thursday, November 14th. Standpoint Research cut shares of AT&T from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Raymond James reaffirmed a “buy” rating and set a $45.00 price objective (up previously from $40.00) on shares of AT&T in a research note on Tuesday, October 29th. UBS Group raised their price objective on shares of AT&T from $38.00 to $42.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, Tigress Financial reaffirmed a “buy” rating on shares of AT&T in a research note on Friday, January 3rd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. AT&T presently has a consensus rating of “Hold” and an average price target of $39.22.
AT&T stock opened at $38.09 on Wednesday. The company’s fifty day moving average price is $38.52 and its 200 day moving average price is $36.73. AT&T Inc. has a 1 year low of $28.92 and a 1 year high of $39.70. The stock has a market capitalization of $278.25 billion, a P/E ratio of 10.82, a P/E/G ratio of 2.40 and a beta of 0.62. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.74 and a current ratio of 0.74.
AT&T (NYSE:T) last released its quarterly earnings results on Monday, October 28th. The technology company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.01. AT&T had a net margin of 8.97% and a return on equity of 13.42%. The firm had revenue of $44.59 billion for the quarter, compared to analysts’ expectations of $45.45 billion. During the same quarter last year, the company earned $0.90 EPS. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. Sell-side analysts predict that AT&T Inc. will post 3.56 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $2.08 dividend on an annualized basis and a yield of 5.46%. This is a boost from AT&T’s previous quarterly dividend of $0.51. AT&T’s dividend payout ratio (DPR) is currently 59.09%.
AT&T Company Profile
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.
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