AT&T Inc. $T Shares Purchased by Patriot Financial Group Insurance Agency LLC

Patriot Financial Group Insurance Agency LLC lifted its position in AT&T Inc. (NYSE:T) by 3.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,650 shares of the technology company’s stock after purchasing an additional 985 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in AT&T were worth $771,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in T. Kingstone Capital Partners Texas LLC purchased a new stake in AT&T in the 2nd quarter worth $5,266,758,000. Nuveen LLC purchased a new stake in AT&T in the 1st quarter worth $1,072,128,000. GQG Partners LLC increased its holdings in AT&T by 17.7% in the 1st quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock worth $3,222,711,000 after acquiring an additional 17,177,874 shares in the last quarter. Ontario Teachers Pension Plan Board increased its holdings in AT&T by 30,527.5% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company’s stock worth $338,213,000 after acquiring an additional 11,920,392 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in AT&T by 350.4% in the 1st quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company’s stock worth $321,372,000 after acquiring an additional 8,841,126 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. HSBC lowered shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 price target for the company. in a report on Thursday, July 24th. Scotiabank upped their target price on shares of AT&T from $29.50 to $30.00 and gave the stock a “sector outperform” rating in a report on Friday, July 11th. Bank of America initiated coverage on shares of AT&T in a report on Monday, July 7th. They set a “buy” rating and a $32.00 target price for the company. Hsbc Global Res lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 24th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $33.00 target price (up previously from $31.00) on shares of AT&T in a report on Thursday, September 18th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, AT&T presently has an average rating of “Moderate Buy” and an average target price of $30.74.

AT&T Trading Up 0.2%

NYSE T opened at $27.06 on Friday. The firm’s 50-day moving average is $28.60 and its two-hundred day moving average is $27.91. AT&T Inc. has a 12 month low of $21.05 and a 12 month high of $29.79. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. The stock has a market capitalization of $193.49 billion, a P/E ratio of 15.38, a PEG ratio of 3.46 and a beta of 0.42.

AT&T (NYSE:T) last posted its earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The company had revenue of $30.85 billion for the quarter, compared to analysts’ expectations of $30.44 billion. During the same quarter in the prior year, the company posted $0.51 earnings per share. AT&T’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, sell-side 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 declared 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. This represents a $1.11 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Friday, October 10th. AT&T’s dividend payout ratio is currently 63.07%.

AT&T Company 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.