Stewart & Patten Co. LLC Buys 4,851 Shares of AT&T Inc. (NYSE:T)

Stewart & Patten Co. LLC increased its stake in shares of AT&T Inc. (NYSE:T) by 0.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 637,353 shares of the technology company’s stock after purchasing an additional 4,851 shares during the quarter. AT&T comprises about 1.7% of Stewart & Patten Co. LLC’s portfolio, making the stock its 27th biggest position. Stewart & Patten Co. LLC’s holdings in AT&T were worth $11,217,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the stock. Dominguez Wealth Management Solutions Inc. grew its stake in shares of AT&T by 5.2% during the first quarter. Dominguez Wealth Management Solutions Inc. now owns 68,470 shares of the technology company’s stock valued at $1,205,000 after purchasing an additional 3,371 shares during the last quarter. Hexagon Capital Partners LLC boosted its stake in AT&T by 6.7% in the first quarter. Hexagon Capital Partners LLC now owns 59,754 shares of the technology company’s stock valued at $1,052,000 after acquiring an additional 3,759 shares during the last quarter. Silvia Mccoll Wealth Management LLC boosted its stake in AT&T by 8.1% in the first quarter. Silvia Mccoll Wealth Management LLC now owns 11,391 shares of the technology company’s stock valued at $191,000 after acquiring an additional 850 shares during the last quarter. Claro Advisors LLC boosted its stake in AT&T by 5.8% in the first quarter. Claro Advisors LLC now owns 26,711 shares of the technology company’s stock valued at $470,000 after acquiring an additional 1,474 shares during the last quarter. Finally, Miracle Mile Advisors LLC boosted its stake in AT&T by 3.1% in the first quarter. Miracle Mile Advisors LLC now owns 35,699 shares of the technology company’s stock valued at $628,000 after acquiring an additional 1,061 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

AT&T Stock Performance

Shares of AT&T stock traded down $0.13 during trading on Monday, hitting $18.98. 33,256,028 shares of the stock were exchanged, compared to its average volume of 36,884,797. The stock has a market capitalization of $136.09 billion, a price-to-earnings ratio of 10.20, a price-to-earnings-growth ratio of 4.34 and a beta of 0.60. The company has a fifty day moving average price of $17.57 and a 200-day moving average price of $17.18. AT&T Inc. has a 1-year low of $13.43 and a 1-year high of $19.32. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.06.

AT&T (NYSE:T) last announced its earnings results on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.53 by $0.02. The business had revenue of $30.03 billion during the quarter, compared to the consensus estimate of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. AT&T’s revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.60 EPS. As a group, equities analysts predict that AT&T Inc. will post 2.24 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 5.85%. The ex-dividend date is Wednesday, July 10th. AT&T’s dividend payout ratio is currently 59.68%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday. BNP Paribas raised shares of AT&T from an “underperform” rating to a “neutral” rating in a research report on Tuesday, June 11th. The Goldman Sachs Group assumed coverage on shares of AT&T in a research report on Monday. They set a “buy” rating and a $22.00 price target on the stock. Royal Bank of Canada reissued a “sector perform” rating and set a $17.00 price target on shares of AT&T in a research report on Thursday, April 11th. Finally, Barclays raised shares of AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price target on the stock in a research report on Monday, April 29th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and an average target price of $21.73.

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.