Patten Group Inc. Purchases 8,676 Shares of AT&T Inc. $T

Patten Group Inc. grew its position in AT&T Inc. (NYSE:T) by 9.3% during the second quarter, Holdings Channel reports. The institutional investor owned 101,760 shares of the technology company’s stock after acquiring an additional 8,676 shares during the quarter. Patten Group Inc.’s holdings in AT&T were worth $2,945,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Stone House Investment Management LLC acquired a new stake in AT&T during the 1st quarter valued at approximately $25,000. O Brien Wealth Partners LLC purchased a new stake in AT&T in the 2nd quarter worth $26,000. Hager Investment Management Services LLC increased its holdings in AT&T by 182.1% in the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock worth $28,000 after acquiring an additional 641 shares in the last quarter. Kennebec Savings Bank boosted its stake in AT&T by 412.1% during the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock worth $28,000 after purchasing an additional 783 shares during the last quarter. Finally, Core Alternative Capital boosted its stake in AT&T by 125.4% during the 1st quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock worth $29,000 after purchasing an additional 568 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Performance

Shares of AT&T stock opened at $26.01 on Wednesday. The firm has a market capitalization of $185.98 billion, a P/E ratio of 14.78, a P/E/G ratio of 2.12 and a beta of 0.42. AT&T Inc. has a 52 week low of $21.05 and a 52 week high of $29.79. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. The firm’s 50 day moving average is $28.18 and its two-hundred day moving average is $27.78.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.53 by $0.01. The company had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The firm’s revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.51 earnings per share. Research analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be given a dividend of $0.2775 per share. The ex-dividend date is Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.3%. AT&T’s dividend payout ratio (DPR) is 63.07%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. The Goldman Sachs Group began coverage on shares of AT&T in a report on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 price objective for the company. Raymond James Financial restated a “strong-buy” rating and set a $33.00 target price (up from $31.00) on shares of AT&T in a research note on Thursday, September 18th. Weiss Ratings restated a “buy (b)” rating on shares of AT&T in a research note on Wednesday, October 8th. UBS Group set a $33.00 target price on shares of AT&T in a research note on Thursday, September 18th. Finally, Citigroup restated a “buy” rating on shares of AT&T in a research note on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $30.65.

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.