Patten & Patten Inc. TN raised its position in shares of AT&T Inc. (NYSE:T) by 5.4% during the second quarter, Holdings Channel reports. The fund owned 472,341 shares of the technology company’s stock after buying an additional 24,072 shares during the period. AT&T accounts for about 2.0% of Patten & Patten Inc. TN’s investment portfolio, making the stock its 8th largest position. Patten & Patten Inc. TN’s holdings in AT&T were worth $17,821,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of T. Ullmann Financial Group Inc. purchased a new stake in shares of AT&T during the first quarter worth $101,000. Feltz Wealth PLAN Inc. purchased a new stake in shares of AT&T during the first quarter worth $104,000. Taylor Wealth Management Partners raised its stake in shares of AT&T by 0.4% in the first quarter. Taylor Wealth Management Partners now owns 2,550 shares of the technology company’s stock worth $106,000 after buying an additional 11 shares during the period. Almanack Investment Partners LLC. purchased a new stake in shares of AT&T during the first quarter worth $109,000. Finally, Sterling Investment Advisors Ltd. raised its stake in shares of AT&T by 289.1% in the first quarter. Sterling Investment Advisors Ltd. now owns 2,724 shares of the technology company’s stock worth $113,000 after buying an additional 2,024 shares during the period. Institutional investors own 55.28% of the company’s stock.

AT&T Inc. (T) traded down 0.24% during mid-day trading on Friday, reaching $38.10. The company’s stock had a trading volume of 13,278,982 shares. The stock’s 50 day moving average is $37.57 and its 200 day moving average is $39.64. The firm has a market cap of $233.93 billion, a PE ratio of 17.90 and a beta of 0.47. AT&T Inc. has a one year low of $35.81 and a one year high of $43.32.

AT&T (NYSE:T) last posted its earnings results on Tuesday, July 25th. The technology company reported $0.79 EPS for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.05. AT&T had a return on equity of 14.53% and a net margin of 8.12%. The business had revenue of $39.84 billion for the quarter, compared to analysts’ expectations of $39.84 billion. During the same quarter in the previous year, the firm earned $0.72 earnings per share. The business’s revenue was down 1.6% compared to the same quarter last year. On average, analysts anticipate that AT&T Inc. will post $2.95 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 5.14%. The ex-dividend date was Thursday, July 6th. AT&T’s dividend payout ratio (DPR) is currently 92.45%.

COPYRIGHT VIOLATION WARNING: “Patten & Patten Inc. TN Raises Position in AT&T Inc. (NYSE:T)” was originally posted by Daily Political and is owned by of Daily Political. If you are accessing this news story on another website, it was illegally copied and republished in violation of US and international trademark and copyright legislation. The legal version of this news story can be viewed at https://www.dailypolitical.com/2017/08/12/patten-patten-inc-tn-raises-position-in-att-inc-nyset.html.

A number of equities research analysts have weighed in on T shares. Zacks Investment Research lowered AT&T from a “hold” rating to a “sell” rating in a research report on Thursday, July 13th. Jefferies Group LLC reaffirmed a “buy” rating and set a $48.00 target price on shares of AT&T in a research report on Wednesday, April 19th. ValuEngine lowered AT&T from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and set a $41.00 target price on shares of AT&T in a research report on Saturday, April 29th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $42.00 target price on shares of AT&T in a research report on Sunday, July 9th. One investment analyst has rated the stock with a sell rating, twenty have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. AT&T presently has a consensus rating of “Hold” and a consensus target price of $43.50.

About AT&T

AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.

Want to see what other hedge funds are holding T? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AT&T Inc. (NYSE:T).

Institutional Ownership by Quarter for AT&T (NYSE:T)

Receive News & Ratings for AT&T Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AT&T Inc. and related companies with MarketBeat.com's FREE daily email newsletter.