Cherry Creek Investment Advisors Inc. Purchases 22,658 Shares of AT&T Inc. (NYSE:T)

Cherry Creek Investment Advisors Inc. increased its position in AT&T Inc. (NYSE:T) by 22.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 121,539 shares of the technology company’s stock after purchasing an additional 22,658 shares during the quarter. AT&T makes up 1.4% of Cherry Creek Investment Advisors Inc.’s portfolio, making the stock its 21st largest holding. Cherry Creek Investment Advisors Inc.’s holdings in AT&T were worth $2,767,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of T. International Assets Investment Management LLC bought a new position in shares of AT&T during the 4th quarter worth approximately $14,700,000. Swiss National Bank raised its stake in AT&T by 0.5% during the third quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock worth $468,217,000 after acquiring an additional 104,700 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of AT&T by 41.4% during the third quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock valued at $168,969,000 after acquiring an additional 2,326,904 shares during the period. Caprock Group LLC boosted its stake in shares of AT&T by 18.3% in the 3rd quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock valued at $4,312,000 after purchasing an additional 30,281 shares in the last quarter. Finally, Talbot Financial LLC bought a new stake in shares of AT&T in the 3rd quarter worth about $7,438,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. UBS Group boosted their price target on shares of AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. boosted their target price on AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Royal Bank of Canada raised AT&T from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $22.00 to $26.00 in a report on Monday, January 6th. New Street Research raised AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. Finally, Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and an average target price of $25.83.

AT&T Stock Performance

Shares of T opened at $24.12 on Tuesday. The firm has a market cap of $173.05 billion, a P/E ratio of 19.61, a PEG ratio of 3.50 and a beta of 0.59. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $24.37. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The firm’s 50 day moving average price is $22.80 and its two-hundred day moving average price is $21.48.

AT&T (NYSE:T) last announced its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a net margin of 7.42% and a return on equity of 13.97%. On average, analysts forecast that AT&T Inc. will post 2.21 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.60%. The ex-dividend date is Friday, January 10th. AT&T’s payout ratio is 90.24%.

AT&T 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.