Patton Fund Management Inc. Sells 46,415 Shares of AT&T Inc. (NYSE:T)

Patton Fund Management Inc. reduced its holdings in AT&T Inc. (NYSE:T - Free Report) by 22.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 156,263 shares of the technology company's stock after selling 46,415 shares during the quarter. Patton Fund Management Inc.'s holdings in AT&T were worth $4,419,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Capital A Wealth Management LLC purchased a new stake in AT&T during the fourth quarter valued at about $25,000. Minot DeBlois Advisors LLC bought a new stake in AT&T during the fourth quarter valued at $25,000. Putney Financial Group LLC purchased a new position in AT&T during the fourth quarter worth about $27,000. Marshall Investment Management LLC bought a new position in AT&T in the 4th quarter worth about $28,000. Finally, Tradewinds Capital Management LLC raised its holdings in shares of AT&T by 48.6% in the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company's stock valued at $30,000 after acquiring an additional 430 shares in the last quarter. Institutional investors own 57.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on T. Citigroup reissued a "buy" rating on shares of AT&T in a report on Monday, April 7th. Wells Fargo & Company increased their price target on shares of AT&T from $27.00 to $30.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. TD Securities upped their target price on shares of AT&T from $29.00 to $30.00 and gave the stock a "hold" rating in a research report on Thursday, April 24th. Scotiabank restated an "outperform" rating on shares of AT&T in a research report on Thursday, April 24th. Finally, Royal Bank of Canada boosted their target price on AT&T from $28.00 to $30.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $28.71.

AT&T Trading Down 0.9%

NYSE:T opened at $27.95 on Tuesday. The company has a 50-day moving average price of $27.44 and a 200-day moving average price of $25.69. The stock has a market cap of $201.08 billion, a price-to-earnings ratio of 18.76, a P/E/G ratio of 3.00 and a beta of 0.41. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. AT&T Inc. has a 12 month low of $17.49 and a 12 month high of $29.03.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). AT&T had a return on equity of 13.97% and a net margin of 8.95%. The company had revenue of $30.63 billion during the quarter, compared to analysts' expectations of $30.39 billion. During the same quarter last year, the business earned $0.55 earnings per share. The business's quarterly revenue was up 2.0% on a year-over-year basis. Equities analysts predict that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 3.97%. The ex-dividend date was Thursday, April 10th. AT&T's dividend payout ratio is currently 68.10%.

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.

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