Cullen Frost Bankers Inc. Buys 2,197 Shares of AT&T Inc. (NYSE:T)

Cullen Frost Bankers Inc. boosted its stake in AT&T Inc. (NYSE:T) by 0.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 711,006 shares of the technology company’s stock after purchasing an additional 2,197 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in AT&T were worth $16,190,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in T. Harbor Capital Advisors Inc. bought a new stake in AT&T in the third quarter valued at about $62,000. Van ECK Associates Corp grew its stake in AT&T by 7.2% in the third quarter. Van ECK Associates Corp now owns 396,958 shares of the technology company’s stock valued at $8,928,000 after acquiring an additional 26,706 shares during the period. United Advisor Group LLC grew its stake in AT&T by 22.1% in the third quarter. United Advisor Group LLC now owns 35,374 shares of the technology company’s stock valued at $778,000 after acquiring an additional 6,402 shares during the period. Crestwood Advisors Group LLC grew its stake in AT&T by 13.5% in the third quarter. Crestwood Advisors Group LLC now owns 19,795 shares of the technology company’s stock valued at $435,000 after acquiring an additional 2,360 shares during the period. Finally, Focused Wealth Management Inc grew its stake in AT&T by 1.1% in the third quarter. Focused Wealth Management Inc now owns 64,083 shares of the technology company’s stock valued at $1,410,000 after acquiring an additional 666 shares during the period. Institutional investors own 57.10% of the company’s stock.

Analyst Ratings Changes

T has been the subject of a number of research analyst reports. Tigress Financial boosted their target price on AT&T from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Citigroup boosted their target price on AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. UBS Group upped their price objective on AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Oppenheimer initiated coverage on AT&T in a research report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price objective for the company. Finally, Royal Bank of Canada upped their price objective on AT&T from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $26.74.

AT&T Price Performance

NYSE:T opened at $26.19 on Thursday. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The stock’s 50 day moving average price is $24.14 and its two-hundred day moving average price is $22.72. The firm has a market capitalization of $188.03 billion, a price-to-earnings ratio of 17.58, a P/E/G ratio of 3.00 and a beta of 0.56. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $27.97.

AT&T (NYSE:T) last released its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. On average, 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 disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were paid a $0.2775 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.11 annualized dividend and a yield of 4.24%. AT&T’s dividend payout ratio is 74.50%.

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.