CIBC Asset Management Inc Increases Holdings in AT&T Inc. (NYSE:T)

CIBC Asset Management Inc boosted its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 2.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,178,428 shares of the technology company's stock after acquiring an additional 28,372 shares during the period. CIBC Asset Management Inc's holdings in AT&T were worth $26,831,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Northeast Investment Management increased its position in shares of AT&T by 0.9% during the fourth quarter. Northeast Investment Management now owns 51,198 shares of the technology company's stock worth $1,166,000 after purchasing an additional 451 shares in the last quarter. Chesapeake Wealth Management grew its holdings in shares of AT&T by 1.9% during the third quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company's stock worth $535,000 after buying an additional 460 shares in the last quarter. Luts & Greenleigh Group Inc. grew its holdings in shares of AT&T by 2.8% during the fourth quarter. Luts & Greenleigh Group Inc. now owns 16,905 shares of the technology company's stock worth $385,000 after buying an additional 460 shares in the last quarter. Socha Financial Group LLC raised its position in shares of AT&T by 2.5% in the third quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company's stock valued at $415,000 after buying an additional 461 shares during the last quarter. Finally, Garden State Investment Advisory Services LLC lifted its stake in shares of AT&T by 1.4% in the third quarter. Garden State Investment Advisory Services LLC now owns 34,468 shares of the technology company's stock worth $759,000 after buying an additional 468 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Up 1.9 %

Shares of T traded up $0.49 during mid-day trading on Friday, hitting $26.64. 58,384,223 shares of the company's stock were exchanged, compared to its average volume of 38,439,449. The stock's 50-day moving average is $23.50 and its 200-day moving average is $22.28. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $26.72. The company has a market cap of $191.19 billion, a price-to-earnings ratio of 17.88, a P/E/G ratio of 3.01 and a beta of 0.59.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. On average, sell-side analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date of this dividend was Friday, January 10th. AT&T's dividend payout ratio is currently 74.50%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on T. Morgan Stanley upgraded AT&T from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $19.00 to $28.00 in a report on Monday, December 16th. Sanford C. Bernstein upped their price objective on shares of AT&T from $28.00 to $29.00 and gave the company an "outperform" rating in a report on Tuesday, January 28th. Royal Bank of Canada raised their price objective on shares of AT&T from $26.00 to $27.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 28th. Scotiabank boosted their target price on shares of AT&T from $24.00 to $26.00 and gave the company a "sector outperform" rating in a report on Tuesday, January 28th. Finally, Tigress Financial raised their price target on shares of AT&T from $30.00 to $32.00 and gave the stock a "buy" rating in a report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $26.33.

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.