Cherry Creek Investment Advisors Inc. Acquires 9,296 Shares of AT&T Inc. $T

Cherry Creek Investment Advisors Inc. lifted its holdings in AT&T Inc. (NYSE:T) by 7.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 139,332 shares of the technology company’s stock after purchasing an additional 9,296 shares during the period. AT&T accounts for approximately 1.9% of Cherry Creek Investment Advisors Inc.’s portfolio, making the stock its 14th biggest holding. Cherry Creek Investment Advisors Inc.’s holdings in AT&T were worth $4,032,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in T. Stone House Investment Management LLC bought a new position in shares of AT&T in the first quarter worth about $25,000. O Brien Wealth Partners LLC bought a new position in AT&T during the second quarter valued at about $26,000. Hager Investment Management Services LLC raised its holdings in AT&T by 182.1% in the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock valued at $28,000 after acquiring an additional 641 shares in the last quarter. Kennebec Savings Bank raised its holdings in AT&T by 412.1% in the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after acquiring an additional 783 shares in the last quarter. Finally, Solstein Capital LLC raised its holdings in AT&T by 217.3% in the 2nd quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock valued at $28,000 after acquiring an additional 652 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

T has been the subject of several recent research reports. The Goldman Sachs Group initiated coverage on AT&T in a report on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 price target for the company. Wells Fargo & Company cut their price target on AT&T from $31.00 to $29.00 and set an “overweight” rating for the company in a report on Thursday, October 16th. Hsbc Global Res cut AT&T from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 24th. Scotiabank set a $30.25 price target on AT&T and gave the company a “sector perform” rating in a report on Monday, October 6th. Finally, Citigroup reaffirmed a “buy” rating on shares of AT&T in a report on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.67.

AT&T Stock Down 0.5%

NYSE T opened at $24.42 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 1.01. The stock’s 50 day moving average is $27.41 and its two-hundred day moving average is $27.67. The company has a market capitalization of $174.58 billion, a price-to-earnings ratio of 7.93, a PEG ratio of 2.16 and a beta of 0.42. AT&T Inc. has a 1-year low of $21.38 and a 1-year high of $29.79.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.54. The company had revenue of $30.71 billion for the quarter, compared to the consensus estimate of $30.85 billion. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The company’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.60 earnings per share. Equities analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Friday, October 10th were paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend was Friday, October 10th. AT&T’s dividend payout ratio is currently 36.04%.

About AT&T

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.