Patton Fund Management Inc. Decreases Position in AT&T Inc. (NYSE:T)

Patton Fund Management Inc. decreased its stake in AT&T Inc. (NYSE:T) by 14.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 202,678 shares of the technology company’s stock after selling 33,418 shares during the quarter. Patton Fund Management Inc.’s holdings in AT&T were worth $4,615,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of T. Point72 Asia Singapore Pte. Ltd. bought a new stake in AT&T in the second quarter worth about $44,000. Scientech Research LLC bought a new stake in shares of AT&T during the 2nd quarter worth approximately $219,000. Driehaus Capital Management LLC bought a new stake in shares of AT&T during the 2nd quarter worth approximately $237,000. NewEdge Advisors LLC boosted its holdings in AT&T by 7.2% during the 2nd quarter. NewEdge Advisors LLC now owns 473,303 shares of the technology company’s stock valued at $9,045,000 after acquiring an additional 31,661 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its position in AT&T by 2.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 700,577 shares of the technology company’s stock valued at $13,388,000 after acquiring an additional 18,869 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

Shares of T opened at $24.43 on Wednesday. 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 firm has a market cap of $175.26 billion, a PE ratio of 19.86, a P/E/G ratio of 3.50 and a beta of 0.59. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $24.58. The stock has a fifty day moving average price of $22.86 and a 200-day moving average price of $21.55.

AT&T (NYSE:T) last issued its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 7.42%. Equities research analysts predict that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be paid a dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.54%. AT&T’s payout ratio is currently 90.24%.

Wall Street Analysts Forecast Growth

T has been the subject of a number of recent analyst reports. New Street Research raised shares of AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. boosted their price objective on shares of AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. UBS Group raised their target price on shares of AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Evercore ISI boosted their price target on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. Finally, Hsbc Global Res raised AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, AT&T currently has an average rating of “Moderate Buy” and an average price target of $26.11.

About AT&T

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.