Cypress Capital Group Purchases 1,496 Shares of AT&T Inc. $T

Cypress Capital Group increased its position in shares of AT&T Inc. (NYSE:T) by 3.5% during the second quarter, HoldingsChannel.com reports. The firm owned 43,841 shares of the technology company’s stock after buying an additional 1,496 shares during the period. Cypress Capital Group’s holdings in AT&T were worth $1,269,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of T. Stone House Investment Management LLC bought a new stake in shares of AT&T during the first quarter valued at approximately $25,000. O Brien Wealth Partners LLC bought a new stake in shares of AT&T during the second quarter valued at approximately $26,000. Hager Investment Management Services LLC increased its position in shares of AT&T by 182.1% during the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock valued at $28,000 after purchasing an additional 641 shares during the period. Kennebec Savings Bank increased its position in shares of AT&T by 412.1% during the second quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after purchasing an additional 783 shares during the period. Finally, Core Alternative Capital increased its position in shares of AT&T by 125.4% during the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock valued at $29,000 after purchasing an additional 568 shares during the period. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Performance

Shares of NYSE:T opened at $25.85 on Monday. The business’s fifty day moving average price is $28.45 and its two-hundred day moving average price is $27.88. AT&T Inc. has a fifty-two week low of $21.05 and a fifty-two week high of $29.79. The stock has a market capitalization of $184.82 billion, a price-to-earnings ratio of 14.69, a price-to-earnings-growth ratio of 2.10 and a beta of 0.42. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 13.36% and a net margin of 10.29%.The business’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.51 earnings per share. As a group, analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

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

Analysts Set New Price Targets

A number of research firms have recently issued reports on T. Scotiabank set a $30.25 price objective on AT&T and gave the company a “sector perform” rating in a research report on Monday, October 6th. Sanford C. Bernstein upped their price target on AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, September 4th. Barclays reiterated an “equal weight” rating and issued a $30.00 price target on shares of AT&T in a research report on Wednesday, October 1st. Citigroup reiterated a “buy” rating on shares of AT&T in a research report on Tuesday, August 26th. Finally, JPMorgan Chase & Co. upped their price target on AT&T from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, AT&T has an average rating of “Moderate Buy” and a consensus target price of $30.75.

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.