Chesapeake Wealth Management Acquires 460 Shares of AT&T Inc. (NYSE:T)

Chesapeake Wealth Management raised its holdings in AT&T Inc. (NYSE:T) by 1.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 24,304 shares of the technology company’s stock after purchasing an additional 460 shares during the period. Chesapeake Wealth Management’s holdings in AT&T were worth $535,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Socha Financial Group LLC boosted its stake in AT&T by 2.5% in the 3rd quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock worth $415,000 after purchasing an additional 461 shares during the period. Essex Savings Bank boosted its stake in AT&T by 2.3% in the 3rd quarter. Essex Savings Bank now owns 21,636 shares of the technology company’s stock worth $476,000 after purchasing an additional 480 shares during the period. Hayek Kallen Investment Management boosted its stake in AT&T by 0.8% in the 3rd quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company’s stock worth $1,326,000 after purchasing an additional 500 shares during the period. Aviance Capital Partners LLC boosted its position in shares of AT&T by 2.1% during the 3rd quarter. Aviance Capital Partners LLC now owns 24,389 shares of the technology company’s stock valued at $537,000 after acquiring an additional 501 shares during the last quarter. Finally, Lake Street Advisors Group LLC boosted its position in shares of AT&T by 0.7% during the 3rd quarter. Lake Street Advisors Group LLC now owns 73,562 shares of the technology company’s stock valued at $1,618,000 after acquiring an additional 513 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

Shares of AT&T stock opened at $22.99 on Tuesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. The business’s 50 day simple moving average is $21.92 and its two-hundred day simple moving average is $19.79. The stock has a market capitalization of $164.96 billion, a P/E ratio of 18.69, a price-to-earnings-growth ratio of 3.40 and a beta of 0.59. AT&T Inc. has a one year low of $15.85 and a one year high of $23.20.

AT&T (NYSE:T) last announced its quarterly earnings results 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 business had revenue of $30.20 billion for 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 business’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.64 EPS. Analysts forecast that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were paid a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.83%. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

Analyst Ratings Changes

T has been the subject of a number of research analyst reports. Wells Fargo & Company dropped their price target on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Evercore ISI lifted their price target on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research report on Thursday, October 24th. Citigroup lifted their price target on AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. TD Cowen lifted their price target on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Finally, Redburn Atlantic upgraded AT&T to a “strong sell” rating in a research report on Monday, September 16th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $23.40.

AT&T Profile

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.