AT&T Inc. $T Shares Bought by Patton Fund Management Inc.

Patton Fund Management Inc. boosted its stake in shares of AT&T Inc. (NYSE:T) by 89.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 171,273 shares of the technology company’s stock after buying an additional 80,989 shares during the quarter. AT&T accounts for about 0.9% of Patton Fund Management Inc.’s holdings, making the stock its 19th biggest holding. Patton Fund Management Inc.’s holdings in AT&T were worth $4,837,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in T. Front Row Advisors LLC acquired a new stake in AT&T in the 2nd quarter valued at approximately $25,000. O Brien Wealth Partners LLC purchased a new position in shares of AT&T during the second quarter worth $26,000. Kennebec Savings Bank grew its stake in shares of AT&T by 412.1% in the second quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after buying an additional 783 shares in the last quarter. Solstein Capital LLC raised its holdings in shares of AT&T by 217.3% in the 2nd quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock valued at $28,000 after buying an additional 652 shares during the period. Finally, Curio Wealth LLC raised its holdings in shares of AT&T by 26,100.0% in the 2nd quarter. Curio Wealth LLC now owns 1,048 shares of the technology company’s stock valued at $30,000 after buying an additional 1,044 shares during the period. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Trading Up 0.6%

Shares of NYSE:T opened at $24.31 on Tuesday. AT&T Inc. has a 52 week low of $21.38 and a 52 week high of $29.79. The company’s 50 day moving average is $25.20 and its two-hundred day moving average is $27.11. The company has a market cap of $172.31 billion, a PE ratio of 7.89, a P/E/G ratio of 1.41 and a beta of 0.38. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, October 22nd. The technology company reported $0.54 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.54. The business had revenue of $30.71 billion during the quarter, compared to analysts’ expectations of $30.85 billion. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.60 EPS. Equities analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 12th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend is Monday, January 12th. AT&T’s dividend payout ratio is currently 36.04%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Wolfe Research lowered shares of AT&T from an “outperform” rating to a “peer perform” rating in a research note on Monday, December 15th. Raymond James Financial reissued a “strong-buy” rating and issued a $33.00 price target (up previously from $31.00) on shares of AT&T in a research report on Thursday, September 18th. Scotiabank set a $30.25 price objective on AT&T and gave the stock a “sector perform” rating in a research report on Monday, October 6th. Morgan Stanley reduced their price objective on AT&T from $32.00 to $30.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 10th. Finally, Sanford C. Bernstein boosted their target price on AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and a consensus price target of $30.24.

AT&T Profile

AT&T Inc is a global telecommunications company that provides a broad range of communications and digital entertainment services. Its core activities include consumer and business wireless services, broadband and fiber internet, and network infrastructure. The company operates branded wireless services through AT&T Mobility and deploys fixed-line and fiber networks to deliver high-speed internet and related home services.

AT&T’s product and service portfolio spans mobile voice and data plans, smartphones and device sales, home internet (including fiber-to-the-home where available), and managed connectivity solutions for enterprise customers.