Patriot Investment Management Group Inc. Purchases 1,415 Shares of AT&T Inc. (NYSE:T)

Patriot Investment Management Group Inc. lifted its position in shares of AT&T Inc. (NYSE:T) by 9.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,791 shares of the technology company’s stock after purchasing an additional 1,415 shares during the quarter. Patriot Investment Management Group Inc.’s holdings in AT&T were worth $382,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new stake in AT&T during the 4th quarter worth approximately $14,700,000. Swiss National Bank raised its holdings in shares of AT&T by 0.5% during the third quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock worth $468,217,000 after acquiring an additional 104,700 shares during the period. Franklin Resources Inc. raised its position in AT&T by 41.4% in the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock valued at $168,969,000 after buying an additional 2,326,904 shares during the last quarter. Caprock Group LLC lifted its stake in AT&T by 18.3% in the 3rd quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock valued at $4,312,000 after acquiring an additional 30,281 shares in the last quarter. Finally, Talbot Financial LLC bought a new position in shares of AT&T during the 3rd quarter worth approximately $7,438,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analysts Set New Price Targets

T has been the topic of a number of research reports. Royal Bank of Canada raised shares of AT&T from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $22.00 to $26.00 in a research report on Monday, January 6th. Wells Fargo & Company dropped their price objective on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Citigroup raised their target price on shares of AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Morgan Stanley upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $19.00 to $28.00 in a research note on Monday, December 16th. Finally, The Goldman Sachs Group boosted their price objective on shares of AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $25.83.

AT&T Price Performance

Shares of T opened at $22.51 on Friday. The business has a 50-day simple moving average of $22.80 and a two-hundred day simple moving average of $21.40. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $24.03. The stock has a market cap of $161.54 billion, a PE ratio of 18.30, a PEG ratio of 3.50 and a beta of 0.59.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The firm had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. During the same quarter last year, the firm earned $0.64 earnings per share. The company’s revenue for the quarter was down .5% on a year-over-year basis. Analysts anticipate that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be given a $0.2775 dividend. The ex-dividend date is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.93%. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

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.