Stewart & Patten Co. LLC Boosts Stock Holdings in AT&T Inc. (NYSE:T)

Stewart & Patten Co. LLC boosted its stake in shares of AT&T Inc. (NYSE:T) by 0.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 637,353 shares of the technology company’s stock after buying an additional 4,851 shares during the period. AT&T comprises 1.7% of Stewart & Patten Co. LLC’s holdings, making the stock its 27th biggest position. Stewart & Patten Co. LLC’s holdings in AT&T were worth $11,217,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Frank Rimerman Advisors LLC purchased a new position in AT&T during the fourth quarter valued at $25,000. Pineridge Advisors LLC bought a new position in AT&T during the fourth quarter valued at $25,000. Ramirez Asset Management Inc. bought a new position in AT&T during the third quarter valued at $30,000. Farmers & Merchants Trust Co of Chambersburg PA lifted its position in AT&T by 35.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock valued at $39,000 after purchasing an additional 606 shares during the last quarter. Finally, Western Pacific Wealth Management LP bought a new position in AT&T during the fourth quarter valued at $39,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Trading Down 0.7 %

T stock traded down $0.13 during trading on Monday, hitting $18.98. The company had a trading volume of 33,256,028 shares, compared to its average volume of 36,884,797. The firm has a market capitalization of $136.09 billion, a P/E ratio of 10.20, a PEG ratio of 4.34 and a beta of 0.60. AT&T Inc. has a 52-week low of $13.43 and a 52-week high of $19.32. The company has a 50 day simple moving average of $17.57 and a 200-day simple moving average of $17.18. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.53 by $0.02. The company had revenue of $30.03 billion for the quarter, compared to the consensus estimate of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The firm’s revenue was down .4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.60 EPS. As a group, research analysts forecast that AT&T Inc. will post 2.24 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 5.85%. The ex-dividend date is Wednesday, July 10th. AT&T’s dividend payout ratio is presently 59.68%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Scotiabank increased their price objective on shares of AT&T from $22.00 to $22.50 and gave the company a “sector outperform” rating in a research report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Friday. Oppenheimer restated an “outperform” rating and issued a $21.00 target price on shares of AT&T in a report on Tuesday, June 25th. BNP Paribas upgraded shares of AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. Finally, Wolfe Research upgraded shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price for the company in a report on Tuesday, March 5th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and an average price target of $21.73.

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.