Cherry Creek Investment Advisors increased its stake in AT&T (NYSE:T – Free Report) by 6.0% in the first quarter, according to the company’s latest 13F filing with the SEC. The institutional investor owned 139,056 shares of the company after purchasing an additional 7,879 of his shares during the quarter. AT&T holds 2.0% of his portfolio in Cherry Creek Investment Advisors, making the stock his 15th largest. AT&T stock in Cherry Creek Investment Advisors was valued at $2,677,000 at the time of the latest SEC filing.
Several other large investors also changed their T-share holdings. Baird Financial Group increased its stake in AT&T by 55.1% during the third quarter. Baird Financial Group acquired an additional 725,364 shares last quarter and now owns 2,042,311 shares in the technology company, valued at $31,329,000. AlphaMark Advisors LLC raised his stake in AT&T stock by 45.5% during the fourth quarter. AlphaMark Advisors LLC now owns 4,849 shares of the company, valued at $89,000, after acquiring an additional 1,516 shares last quarter. Bank Julius Baer & Co. Ltd Zurich increased his stake in AT&T shares by 17.3% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 759,763 shares in the technology company worth $13,987,000 after acquiring an additional 112,078 shares last quarter. Point72 Europe London LLP purchased a new position in his AT&T stock worth approximately $28,443,000 during the fourth quarter. Finally, Hills Bank & Trust Co increased its position in AT&T by 147.1% in the first quarter. Hills Bank & Trust Co purchased an additional 22,854 shares last quarter and now owns 38,395 shares of the company, valued at $739,000. Institutional investors hold 54.09% of the company’s shares.
AT&T price performance
Shares of the NYSE T fell $0.27 to $15.60 in Friday noon trading. The Company’s stock traded 7,065,688 shares with an average turnover of 35,420,848 shares. The stock has a 50-day moving average of $16.18 and a 200-day moving average of $18.03. The stock has a market cap of $111.52 billion, a P/E of -12.50, a P/E of 1.72 and a beta of 0.66. The company has a debt to equity ratio of 1.14, a quick ratio of 0.47 and a current ratio of 0.51. AT&T hit a one-year low of $14.46 and a one-year high of $21.06.
AT&T (NYSE:T – Free Report) last released its quarterly earnings data on Thursday, April 20. The company reported earnings per share (EPS) of $0.60 for the quarter, beating consensus expectations of $0.58 by $0.02. AT&T had a negative net profit margin of 7.52% and a positive return on equity of 15.47%. The company’s revenue for the quarter was $30.14 billion, compared with analyst expectations of $30.22 billion. Earnings per share for the business in the same period last year were $0.77. AT&T sales increased 1.4% year-on-year. On average, an equity research analyst expects AT&T Inc.’s EPS to be 2.42 this fiscal year.
AT&T Dividend Announcement
The company also recently announced a quarterly dividend payable on Tuesday, August 1st. Shareholders of record on Monday, July 10 will be paid a dividend of $0.2775 per share. This equates to an annualized dividend of $1.11 and a yield of 7.12%. The ex-dividend date is Friday, July 7. AT&T’s dividend payout ratio (DPR) is currently -87.40%.
Wall Street analyst speaks out
Several analysts are commenting on the stock price. TD Cowen lowered his price target on AT&T stock to $23.00 from his $25.00 in a research report on Friday, April 21, setting a “market performance” rating for the stock. Barclays lowered its price target on AT&T shares to $17.00 from $18.00 in a research report on Thursday. In a report on Friday, April 21, JPMorgan Chase cut its price target on AT&T from $23.00 to $22.00, setting the stock’s rating to Overweight. HSBC lowered its price target on AT&T shares to $19.00 from $21.00 in a report on Monday, June 5. Finally, Moffett Nathanson upgraded AT&T stock from an ‘underperforming’ rating to a ‘market performing’ rating in a report on Tuesday, June 6, with a price target of $17.00. Eight equity research analysts gave the stock a hold rating, seven buys, and one strong buy. Based on MarketBeat.com data, the stock currently has an average rating of “Moderate Buy” and an average target price of $21.31.
AT&T Inc provides telecommunications and technology services worldwide. The company operates through its two segments, Communications and Latin America. The Communications segment provides wireless voice and data communications services. We also sell handsets, wireless data cards, wireless computing devices, carrying cases and handsfree devices through our own stores, distributors and third party retailers.
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