Patten Group Inc. Has $2.08 Million Holdings in AT&T Inc. (NYSE:T)

Patten Group Inc. increased its holdings in shares of AT&T Inc. (NYSE:T) by 4.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 94,316 shares of the technology company’s stock after buying an additional 3,833 shares during the quarter. Patten Group Inc.’s holdings in AT&T were worth $2,075,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Riggs Asset Managment Co. Inc. increased its holdings in AT&T by 356.5% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after purchasing an additional 1,116 shares in the last quarter. Pineridge Advisors LLC bought a new position in AT&T during the fourth quarter worth about $25,000. American Capital Advisory LLC lifted its position in AT&T by 107.5% during the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after acquiring an additional 807 shares during the last quarter. Altshuler Shaham Ltd acquired a new stake in AT&T during the second quarter worth approximately $30,000. Finally, Marquette Asset Management LLC acquired a new stake in AT&T during the third quarter worth approximately $36,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Price Performance

T stock opened at $21.94 on Thursday. The firm has a market cap of $157.28 billion, a price-to-earnings ratio of 11.79, a PEG ratio of 3.74 and a beta of 0.60. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. AT&T Inc. has a 12-month low of $14.23 and a 12-month high of $22.34. The company’s fifty day simple moving average is $20.58 and its 200 day simple moving average is $18.75.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting the consensus estimate of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The firm had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. During the same quarter in the prior year, the business earned $0.63 earnings per share. The business’s quarterly revenue was down .3% compared to the same quarter last year. On average, analysts expect that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued a $0.2775 dividend. The ex-dividend date is Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.06%. AT&T’s dividend payout ratio is presently 59.68%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on T. Royal Bank of Canada lifted their price target on shares of AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. Barclays lifted their price target on shares of AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. lifted their price target on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Finally, Evercore ISI lifted their price objective on shares of AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $22.38.

AT&T Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.