Cullen Frost Bankers Inc. has $13.96M stock position in AT&T Inc. (NYSE:T)

Cullen Frost Bankers Inc. reduced its holdings in AT&T Inc. (NYSE:T – Free Report) by 8.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 730,404 shares of the technology company’s stock after selling 67,633 shares during the quarter. Holdings of Cullen Frost Bankers Inc. holdings in AT&T were worth $13,958,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Frank Rimerman Advisors LLC purchased a new position in shares of AT&T in the 4th quarter valued at $25,000. Pineridge Advisors LLC acquired a new position in AT&T in the fourth quarter valued at about $25,000. Riggs Asset Management Co. Inc. grew its position in AT&T by 356.5% in the second quarter. Riggs Asset Management Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after buying an additional 1,116 shares during the last quarter. First Pacific Financial boosted its stake in AT&T by 166.7% in the first quarter. First Pacific Financial now owns 1,600 shares of the technology company’s stock worth $28,000 after purchasing an additional 1,000 shares during the last quarter. Finally, American Capital Advisory LLC boosted its holdings 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 valued at $30,000 after purchasing an additional 807 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s shares.

Analysts set new price targets

A number of equities analysts recently commented on the company. Oppenheimer boosted their price objective on AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. TD Cowen upped their target price on shares of AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a report on Thursday, July 25th. BNP Paribas raised shares of AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 11th. Moffett Nathanson upped their price target on shares of AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Finally, Royal Bank of Canada upped their price target on AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 25th . Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of “Moderate Buy” and an average target price of $22.06, according to MarketBeat.

Check out our latest report on AT&T

AT&T trading rose 1.5%

Shares of T opened at $20.97 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.66, and a debt-to-equity ratio of 1.05. AT&T Inc. has a 1 year low of $14.12 and a 1 year high of $21.00. The company’s fifty-day simple moving average is $19.31, and its 200-day simple moving average is $18.01. The firm has a market cap of $150.36 billion, a P/E ratio of 11.27, a price-to-earnings-growth ratio of 3.47 and a beta of 0.59.

AT&T (NYSE:T – Get Your Free Report ) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, meeting analysts’ consensus estimates of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The business had revenue of $29.80 billion during the quarter, compared to analyst estimates of $30.05 billion. In the same quarter last year, the company earned $0.63 per share. The company’s revenue for the quarter was down 0.3% year-over-year. As a group, sell-side analysts predict that AT&T Inc. will post 2.22 EPS for the current year.

AT&T announces dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were given a dividend of $0.2775 per share. This represents a dividend of $1.11 on an annualized basis and a dividend yield of 5.29%. The ex-dividend date was Wednesday, July 10. AT&T’s dividend payout ratio is currently 59.68%.

AT&T profile

(Free report)

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment provides wireless voice and data communications services; and sells mobile phones, 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.

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