Cypress Capital Group Boosts Stake in AT&T Inc. (NYSE:T)

Cypress Capital Group grew its holdings in shares of AT&T Inc. (NYSE:T) by 1.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 58,060 shares of the technology company’s stock after purchasing an additional 922 shares during the quarter. Cypress Capital Group’s holdings in AT&T were worth $1,277,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Ritter Daniher Financial Advisory LLC DE increased its holdings in shares of AT&T by 169.2% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after buying an additional 841 shares during the last quarter. Riggs Asset Managment Co. Inc. raised its position in AT&T by 356.5% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after purchasing an additional 1,116 shares during the period. American Capital Advisory LLC lifted its stake in shares of AT&T by 107.5% during the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after purchasing an additional 807 shares in the last quarter. Reston Wealth Management LLC purchased a new stake in shares of AT&T in the third quarter worth about $35,000. Finally, Altshuler Shaham Ltd purchased a new stake in shares of AT&T in the second quarter worth about $30,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 0.4 %

T stock opened at $22.83 on Thursday. 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 capitalization of $163.81 billion, a PE ratio of 18.56, a PEG ratio of 3.41 and a beta of 0.59. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $23.20. The business’s 50 day simple moving average is $21.96 and its 200 day simple moving average is $19.86.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.03. The business had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the previous year, the company posted $0.64 EPS. As a group, research analysts anticipate that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.86%. AT&T’s dividend payout ratio is currently 90.24%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on T shares. Oppenheimer boosted their price objective on shares of AT&T from $23.00 to $24.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Scotiabank cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Barclays lifted their price objective on shares of AT&T from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Moffett Nathanson lifted their price objective on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Finally, Wells Fargo & Company cut their price objective on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.40.

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.