AT&T Inc. (NYSE:T) Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc grew its stake in AT&T Inc. (NYSE:T - Free Report) by 5.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,150,056 shares of the technology company's stock after buying an additional 58,585 shares during the quarter. CIBC Asset Management Inc's holdings in AT&T were worth $25,300,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. OneDigital Investment Advisors LLC grew its stake in shares of AT&T by 10.1% during the third quarter. OneDigital Investment Advisors LLC now owns 190,699 shares of the technology company's stock worth $4,195,000 after purchasing an additional 17,469 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its position in shares of AT&T by 11.7% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 198,688 shares of the technology company's stock worth $4,371,000 after acquiring an additional 20,787 shares in the last quarter. Metis Global Partners LLC boosted its position in shares of AT&T by 2.1% during the 3rd quarter. Metis Global Partners LLC now owns 254,212 shares of the technology company's stock worth $5,593,000 after acquiring an additional 5,335 shares in the last quarter. Curi RMB Capital LLC increased its holdings in shares of AT&T by 71.2% in the 3rd quarter. Curi RMB Capital LLC now owns 22,453 shares of the technology company's stock valued at $494,000 after acquiring an additional 9,335 shares during the last quarter. Finally, Planning Capital Management Corp raised its position in shares of AT&T by 23.3% during the 3rd quarter. Planning Capital Management Corp now owns 7,403 shares of the technology company's stock worth $163,000 after acquiring an additional 1,399 shares in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on T shares. Wells Fargo & Company dropped their target price on shares of AT&T from $25.00 to $24.00 and set an "overweight" rating on the stock in a research report on Thursday, October 24th. Barclays raised their price target on AT&T from $22.00 to $24.00 and gave the stock an "overweight" rating in a research note on Thursday, October 24th. Moffett Nathanson upped their price target on shares of AT&T from $17.00 to $18.00 and gave the company a "neutral" rating in a research report on Thursday, August 15th. Oppenheimer raised their price objective on shares of AT&T from $23.00 to $24.00 and gave the stock an "outperform" rating in a research report on Thursday, October 24th. Finally, Scotiabank lowered AT&T from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $23.40.

AT&T Price Performance

Shares of T stock traded up $0.43 during trading hours on Friday, hitting $22.68. The company's stock had a trading volume of 40,207,263 shares, compared to its average volume of 35,514,727. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. AT&T Inc. has a twelve month low of $15.75 and a twelve month high of $22.75. The stock has a market cap of $162.74 billion, a price-to-earnings ratio of 18.45, a P/E/G ratio of 3.35 and a beta of 0.59. The business has a fifty day moving average of $21.89 and a 200-day moving average of $19.71.

AT&T (NYSE:T - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.03. The firm had revenue of $30.20 billion during the quarter, compared to analysts' expectations of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The firm's quarterly revenue was down .5% compared to the same quarter last year. During the same quarter last year, the business posted $0.64 EPS. As a group, equities research analysts anticipate that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were paid a $0.2775 dividend. The ex-dividend date was Thursday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.89%. AT&T's payout ratio is currently 90.24%.

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.