Patriot Investment Management Group Inc. increased its holdings in AT&T Inc. (NYSE:T – Free Report) by 9.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,791 shares of the technology company’s stock after acquiring an additional 1,415 shares during the period. Patriot Investment Management Group Inc.’s holdings in AT&T were worth $382,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in T. Chesapeake Wealth Management raised its position in AT&T by 1.9% in the third quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock worth $535,000 after acquiring an additional 460 shares during the period. Luts & Greenleigh Group Inc. increased its stake in shares of AT&T by 2.8% during the 4th quarter. Luts & Greenleigh Group Inc. now owns 16,905 shares of the technology company’s stock worth $385,000 after purchasing an additional 460 shares during the last quarter. Socha Financial Group LLC raised its holdings in shares of AT&T by 2.5% in the 3rd quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock worth $415,000 after purchasing an additional 461 shares during the period. Garden State Investment Advisory Services LLC lifted its stake in AT&T by 1.4% in the third quarter. Garden State Investment Advisory Services LLC now owns 34,468 shares of the technology company’s stock valued at $759,000 after purchasing an additional 468 shares during the last quarter. Finally, Essex Savings Bank grew its holdings in AT&T by 2.3% during the third quarter. Essex Savings Bank now owns 21,636 shares of the technology company’s stock valued at $476,000 after purchasing an additional 480 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on the company. Evercore ISI lifted their price objective on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a report on Thursday, October 24th. New Street Research upgraded AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 3rd. Sanford C. Bernstein started coverage on shares of AT&T in a research note on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price objective for the company. Wells Fargo & Company reduced their target price on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Finally, Tigress Financial upped their price objective on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, September 27th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $25.83.
AT&T Price Performance
Shares of NYSE:T opened at $22.51 on Friday. The firm’s 50 day moving average price is $22.80 and its 200-day moving average price is $21.40. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $161.54 billion, a PE ratio of 18.30, a price-to-earnings-growth ratio of 3.50 and a beta of 0.59. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $24.03.
AT&T (NYSE:T – Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. During the same quarter last year, the company posted $0.64 EPS. The company’s revenue was down .5% compared to the same quarter last year. Equities research analysts expect that AT&T Inc. will post 2.21 EPS for the current year.
AT&T Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.93%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s payout ratio is 90.24%.
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.
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