Patten Group Inc. Cuts Position in AT&T Inc. (NYSE:T)

Patten Group Inc. lowered its position in shares of AT&T Inc. (NYSE:T) by 1.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 92,764 shares of the technology company’s stock after selling 1,552 shares during the quarter. Patten Group Inc.’s holdings in AT&T were worth $2,112,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of T. Legacy Investment Solutions LLC acquired a new stake in shares of AT&T in the third quarter valued at about $25,000. Marshall Investment Management LLC acquired a new stake in AT&T in the fourth quarter valued at approximately $28,000. Ritter Daniher Financial Advisory LLC DE raised its stake in shares of AT&T by 169.2% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after purchasing an additional 841 shares during the period. YANKCOM Partnership acquired a new position in shares of AT&T during the fourth quarter worth $30,000. Finally, Tradewinds Capital Management LLC boosted its stake in shares of AT&T by 48.6% in the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock valued at $30,000 after purchasing an additional 430 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Performance

Shares of T opened at $27.69 on Tuesday. The firm has a fifty day moving average of $24.01 and a 200-day moving average of $22.64. The company has a market cap of $198.76 billion, a price-to-earnings ratio of 18.58, a price-to-earnings-growth ratio of 3.00 and a beta of 0.59. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $27.86.

AT&T (NYSE:T) last posted its earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. As a group, equities analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were paid a $0.2775 dividend. The ex-dividend date was Friday, January 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.01%. AT&T’s payout ratio is 74.50%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on T shares. Tigress Financial lifted their price target on shares of AT&T from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Argus raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research report on Thursday, January 16th. JPMorgan Chase & Co. increased their price target on AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. The Goldman Sachs Group lifted their price objective on AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Finally, Scotiabank increased their target price on AT&T from $26.00 to $28.50 and gave the company a “sector outperform” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $26.45.

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.