Patton Fund Management Inc. Makes New $5.19 Million Investment in AT&T Inc. (NYSE:T)

Patton Fund Management Inc. acquired a new stake in shares of AT&T Inc. (NYSE:T - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 236,096 shares of the technology company's stock, valued at approximately $5,194,000.

A number of other institutional investors and hedge funds have also modified their holdings of T. Hayek Kallen Investment Management raised its position in shares of AT&T by 0.8% during the 3rd quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company's stock worth $1,326,000 after purchasing an additional 500 shares during the period. Octavia Wealth Advisors LLC increased its position in AT&T by 2.1% in the second quarter. Octavia Wealth Advisors LLC now owns 25,313 shares of the technology company's stock worth $484,000 after buying an additional 519 shares during the period. Carolinas Wealth Consulting LLC lifted its stake in AT&T by 2.3% in the second quarter. Carolinas Wealth Consulting LLC now owns 23,650 shares of the technology company's stock valued at $452,000 after buying an additional 521 shares during the last quarter. WealthCare Investment Partners LLC boosted its holdings in shares of AT&T by 2.2% during the second quarter. WealthCare Investment Partners LLC now owns 24,138 shares of the technology company's stock valued at $461,000 after acquiring an additional 525 shares during the period. Finally, Integral Investment Advisors Inc. grew its position in shares of AT&T by 3.2% during the second quarter. Integral Investment Advisors Inc. now owns 17,177 shares of the technology company's stock worth $322,000 after acquiring an additional 538 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on T. Hsbc Global Res raised AT&T to a "strong-buy" rating in a report on Tuesday, October 1st. The Goldman Sachs Group began coverage on shares of AT&T in a research note on Monday, July 1st. They set a "buy" rating and a $22.00 price objective on the stock. TD Cowen increased their target price on shares of AT&T from $21.00 to $23.00 and gave the company a "hold" rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. raised their target price on shares of AT&T from $21.00 to $24.00 and gave the company an "overweight" rating in a research note on Thursday, July 25th. Finally, Evercore ISI upped their price target on shares of AT&T from $18.00 to $19.00 and gave the stock an "in-line" rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $22.69.

AT&T Stock Up 0.1 %

AT&T stock traded up $0.02 during trading hours on Thursday, hitting $21.73. The company had a trading volume of 25,468,314 shares, compared to its average volume of 35,580,238. AT&T Inc. has a fifty-two week low of $14.31 and a fifty-two week high of $22.34. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. The firm has a market capitalization of $155.81 billion, a P/E ratio of 11.68, a price-to-earnings-growth ratio of 3.62 and a beta of 0.60. The firm's fifty day moving average is $20.86 and its 200-day moving average is $18.91.

AT&T (NYSE:T - Get Free Report) last issued its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, hitting the consensus estimate of $0.57. The company had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The business's revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.63 EPS. On average, research analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be issued a dividend of $0.2775 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.11 annualized dividend and a yield of 5.11%. AT&T's dividend payout ratio (DPR) is currently 59.68%.

AT&T 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.