Cherry Creek Investment Advisors Inc. Raises Stock Position in AT&T Inc. (NYSE:T)

Cherry Creek Investment Advisors Inc. increased its stake in AT&T Inc. (NYSE:T - Free Report) by 22.9% during the fourth 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 acquiring an additional 22,658 shares during the quarter. AT&T comprises 1.4% of Cherry Creek Investment Advisors Inc.'s holdings, making the stock its 21st largest holding. Cherry Creek Investment Advisors Inc.'s holdings in AT&T were worth $2,767,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Baldwin Wealth Partners LLC MA grew its position in shares of AT&T by 26.9% during the 4th quarter. Baldwin Wealth Partners LLC MA now owns 9,788 shares of the technology company's stock worth $223,000 after buying an additional 2,075 shares during the period. Foundations Investment Advisors LLC grew its holdings in AT&T by 18.9% in the fourth quarter. Foundations Investment Advisors LLC now owns 348,019 shares of the technology company's stock worth $7,924,000 after purchasing an additional 55,331 shares during the period. Mount Yale Investment Advisors LLC increased its stake in AT&T by 5.0% in the fourth quarter. Mount Yale Investment Advisors LLC now owns 30,967 shares of the technology company's stock valued at $705,000 after purchasing an additional 1,476 shares in the last quarter. Ridgecrest Wealth Partners LLC raised its holdings in shares of AT&T by 21.2% during the fourth quarter. Ridgecrest Wealth Partners LLC now owns 18,388 shares of the technology company's stock valued at $419,000 after purchasing an additional 3,216 shares during the period. Finally, Valued Wealth Advisors LLC boosted its position in shares of AT&T by 51.0% during the 4th quarter. Valued Wealth Advisors LLC now owns 3,561 shares of the technology company's stock worth $81,000 after purchasing an additional 1,202 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Up 1.2 %

Shares of NYSE:T traded up $0.29 during trading on Tuesday, reaching $24.43. 55,727,746 shares of the stock traded hands, compared to its average volume of 39,360,168. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $24.58. The stock has a market cap of $175.26 billion, a P/E ratio of 19.86, a price-to-earnings-growth ratio of 3.50 and a beta of 0.59. The stock has a 50-day moving average of $22.83 and a two-hundred day moving average of $21.51. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 7.42%. As a group, sell-side analysts expect that AT&T Inc. will post 2.21 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 Monday, February 3rd. Stockholders of record on Friday, January 10th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.54%. The ex-dividend date is Friday, January 10th. AT&T's payout ratio is currently 90.24%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Scotiabank upped their target price on shares of AT&T from $24.00 to $26.00 and gave the stock a "sector outperform" rating in a report on Tuesday. Sanford C. Bernstein upped their target price on shares of AT&T from $28.00 to $29.00 and gave the stock an "outperform" rating in a research note on Tuesday. UBS Group upped their price objective on shares of AT&T from $25.00 to $30.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. Royal Bank of Canada lifted their target price on shares of AT&T from $26.00 to $27.00 and gave the stock an "outperform" rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. lifted their price target on AT&T from $25.00 to $28.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $26.06.

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.