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

Patten Group Inc. raised its holdings in shares of AT&T Inc. (NYSE:T) by 9.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 101,760 shares of the technology company’s stock after purchasing 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 filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. CHURCHILL MANAGEMENT Corp lifted its position in AT&T by 1.5% during the second quarter. CHURCHILL MANAGEMENT Corp now owns 324,104 shares of the technology company’s stock valued at $9,380,000 after purchasing an additional 4,793 shares during the last quarter. Kickstand Ventures LLC. bought a new position in AT&T during the second quarter valued at $489,000. Sentry Investment Management LLC lifted its position in AT&T by 153.2% during the second quarter. Sentry Investment Management LLC now owns 22,095 shares of the technology company’s stock valued at $625,000 after purchasing an additional 13,370 shares during the last quarter. ASR Vermogensbeheer N.V. lifted its position in AT&T by 1.4% during the second quarter. ASR Vermogensbeheer N.V. now owns 722,568 shares of the technology company’s stock valued at $20,910,000 after purchasing an additional 9,970 shares during the last quarter. Finally, Simplicity Wealth LLC lifted its position in AT&T by 180.5% during the second quarter. Simplicity Wealth LLC now owns 114,091 shares of the technology company’s stock valued at $3,302,000 after purchasing an additional 73,417 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Trading Down 0.3%

T stock opened at $26.01 on Wednesday. The company has a market capitalization of $185.98 billion, a PE ratio of 14.78, a P/E/G ratio of 2.12 and a beta of 0.42. AT&T Inc. has a 12 month low of $21.05 and a 12 month high of $29.79. The firm’s 50-day moving average is $28.18 and its 200 day moving average is $27.78. 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 results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.53 by $0.01. The company had revenue of $30.85 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the firm posted $0.51 EPS. On average, research analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

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

Analyst Upgrades and Downgrades

T has been the topic of several recent analyst reports. Barclays reissued an “equal weight” rating and issued a $30.00 target price on shares of AT&T in a research note on Wednesday, October 1st. UBS Group set a $33.00 target price on shares of AT&T in a research note on Thursday, September 18th. HSBC downgraded shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a research note on Thursday, July 24th. The Goldman Sachs Group initiated coverage on shares of AT&T in a research note on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 target price on the stock. Finally, Hsbc Global Res downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock 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.