Cypress Capital Group Has $1.28 Million Position in AT&T Inc. (NYSE:T)

Cypress Capital Group lifted its holdings in shares of AT&T Inc. (NYSE:T) by 1.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,060 shares of the technology company’s stock after purchasing an additional 922 shares during the period. Cypress Capital Group’s holdings in AT&T were worth $1,277,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Covestor Ltd boosted its holdings in AT&T by 30.3% in the first quarter. Covestor Ltd now owns 2,678 shares of the technology company’s stock worth $48,000 after acquiring an additional 622 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of AT&T by 72.2% in the first quarter. Bessemer Group Inc. now owns 323,538 shares of the technology company’s stock valued at $5,696,000 after purchasing an additional 135,603 shares in the last quarter. EP Wealth Advisors LLC lifted its holdings in shares of AT&T by 7.8% in the first quarter. EP Wealth Advisors LLC now owns 109,610 shares of the technology company’s stock valued at $1,929,000 after purchasing an additional 7,944 shares in the last quarter. Axxcess Wealth Management LLC lifted its holdings in shares of AT&T by 5.7% in the first quarter. Axxcess Wealth Management LLC now owns 274,395 shares of the technology company’s stock valued at $4,829,000 after purchasing an additional 14,789 shares in the last quarter. Finally, JT Stratford LLC lifted its holdings in shares of AT&T by 18.4% in the first quarter. JT Stratford LLC now owns 29,568 shares of the technology company’s stock valued at $520,000 after purchasing an additional 4,600 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

T stock opened at $22.83 on Thursday. The stock has a market capitalization of $163.81 billion, a PE ratio of 18.56, a price-to-earnings-growth ratio of 3.41 and a beta of 0.59. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $23.20. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The stock’s 50 day simple moving average is $21.96 and its 200 day simple moving average is $19.86.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.03. The firm had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company’s revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.64 EPS. As a group, research analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were paid a $0.2775 dividend. The ex-dividend date was Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.86%. AT&T’s dividend payout ratio (DPR) is 90.24%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Hsbc Global Res raised AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $22.00 price target on shares of AT&T in a research report on Thursday, October 24th. Scotiabank downgraded AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. TD Cowen raised their target price on AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Finally, Daiwa America raised AT&T to a “hold” rating in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.40.

AT&T Company 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.