Cherokee Insurance Co Purchases Shares of 12,000 AT&T Inc. $T

Cherokee Insurance Co acquired a new position in shares of AT&T Inc. (NYSE:T) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 12,000 shares of the technology company’s stock, valued at approximately $347,000.

Several other hedge funds have also modified their holdings of T. Stone House Investment Management LLC purchased a new stake in AT&T during the 1st quarter worth about $25,000. O Brien Wealth Partners LLC purchased a new stake in shares of AT&T during the second quarter worth approximately $26,000. Kennebec Savings Bank raised its holdings in AT&T by 412.1% in the second 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. Solstein Capital LLC lifted its stake in AT&T by 217.3% in the second quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock worth $28,000 after acquiring an additional 652 shares during the last quarter. Finally, IMA Advisory Services Inc. acquired a new position in AT&T during the 1st quarter worth approximately $29,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Trading Up 1.8%

NYSE:T opened at $25.64 on Thursday. The company has a market capitalization of $181.74 billion, a PE ratio of 8.32, a P/E/G ratio of 2.16 and a beta of 0.40. AT&T Inc. has a 52-week low of $21.38 and a 52-week high of $29.79. The stock’s 50 day moving average price is $26.91 and its 200 day moving average price is $27.58. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, meeting the consensus estimate of $0.54. The business had revenue of $30.71 billion during 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 revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.60 earnings per share. On average, research analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Friday, October 10th were given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend was Friday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 36.04%.

Analysts Set New Price Targets

T has been the subject of several recent analyst reports. Morgan Stanley lifted their price objective on shares of AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 16th. Barclays decreased their price target on AT&T from $30.00 to $28.00 and set an “equal weight” rating for the company in a report on Thursday, October 23rd. Wells Fargo & Company lowered their price objective on AT&T from $31.00 to $29.00 and set an “overweight” rating for the company in a research report on Thursday, October 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of AT&T in a research note on Wednesday, October 8th. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $33.00 price objective (up previously from $31.00) on shares of AT&T in a report on Thursday, September 18th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $30.64.

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.