Cherry Creek Investment Advisors Inc. Has $2.18 Million Position in AT&T Inc. (NYSE:T)

Cherry Creek Investment Advisors Inc. increased its holdings in shares of AT&T Inc. (NYSE:T) by 88.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 98,881 shares of the technology company’s stock after buying an additional 46,460 shares during the quarter. AT&T accounts for approximately 1.1% of Cherry Creek Investment Advisors Inc.’s holdings, making the stock its 24th biggest position. Cherry Creek Investment Advisors Inc.’s holdings in AT&T were worth $2,175,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of T. Hayek Kallen Investment Management grew its holdings in shares of AT&T by 0.8% during the third quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company’s stock worth $1,326,000 after buying an additional 500 shares in the last quarter. Octavia Wealth Advisors LLC grew its stake in shares of AT&T by 2.1% during the 2nd quarter. Octavia Wealth Advisors LLC now owns 25,313 shares of the technology company’s stock worth $484,000 after acquiring an additional 519 shares in the last quarter. Carolinas Wealth Consulting LLC lifted its position in shares of AT&T by 2.3% in the second quarter. Carolinas Wealth Consulting LLC now owns 23,650 shares of the technology company’s stock worth $452,000 after purchasing an additional 521 shares in the last quarter. WealthCare Investment Partners LLC increased its stake in AT&T by 2.2% in the 2nd quarter. WealthCare Investment Partners LLC now owns 24,138 shares of the technology company’s stock valued at $461,000 after buying an additional 525 shares during the last quarter. Finally, Little House Capital LLC boosted its stake in shares of AT&T by 4.8% during the 3rd quarter. Little House Capital LLC now owns 11,619 shares of the technology company’s stock worth $256,000 after buying an additional 537 shares during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on T. Scotiabank downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Citigroup raised their price objective on AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Wells Fargo & Company boosted their target price on AT&T from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Oppenheimer raised their price target on AT&T from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.93.

AT&T Trading Up 4.6 %

Shares of AT&T stock opened at $22.49 on Thursday. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. AT&T Inc. has a 12-month low of $14.74 and a 12-month high of $22.58. The company has a market capitalization of $161.26 billion, a price-to-earnings ratio of 12.93, a PEG ratio of 3.73 and a beta of 0.60. The firm’s 50-day moving average price is $21.09 and its two-hundred day moving average price is $19.06.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 for the quarter, compared to analyst estimates of $30.05 billion. During the same quarter last year, the business posted $0.63 EPS. The firm’s revenue for the quarter was down .3% on a year-over-year basis. On average, analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be issued a dividend of $0.2775 per share. The ex-dividend date is Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.94%. AT&T’s dividend payout ratio (DPR) is currently 63.79%.

About AT&T

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