CIBC Asset Management Inc Acquires 28,372 Shares of AT&T Inc. (NYSE:T)

CIBC Asset Management Inc increased its holdings in AT&T Inc. (NYSE:T) by 2.5% in the fourth quarter, HoldingsChannel.com reports. The fund 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.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. International Assets Investment Management LLC purchased a new stake in shares of AT&T during the 4th quarter valued at about $14,700,000. Swiss National Bank grew its stake in shares of AT&T by 0.5% during the 3rd quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock valued at $468,217,000 after purchasing an additional 104,700 shares during the period. Franklin Resources Inc. increased its position in shares of AT&T by 41.4% during the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock valued at $168,969,000 after purchasing an additional 2,326,904 shares during the last quarter. Consolidated Planning Corp lifted its stake in shares of AT&T by 7.4% in the 4th quarter. Consolidated Planning Corp now owns 320,089 shares of the technology company’s stock worth $7,288,000 after purchasing an additional 21,927 shares during the period. Finally, Caprock Group LLC grew its position in AT&T by 18.3% during the third quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock valued at $4,312,000 after buying an additional 30,281 shares during the period. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Trading Up 1.0 %

Shares of NYSE T opened at $25.88 on Tuesday. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $25.93. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The business’s 50 day moving average is $23.23 and its two-hundred day moving average is $22.08. The stock has a market capitalization of $185.66 billion, a P/E ratio of 17.37, a PEG ratio of 2.79 and a beta of 0.59.

AT&T (NYSE:T) last released its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. As a group, research analysts expect that AT&T Inc. will post 2.15 EPS for the current year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were issued a dividend of $0.2775 per share. The ex-dividend date was Friday, January 10th. This represents a $1.11 annualized dividend and a yield of 4.29%. AT&T’s payout ratio is 74.50%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Oppenheimer initiated coverage on shares of AT&T in a research report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price target on the stock. Barclays boosted their price target on AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Evercore ISI increased their price objective on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research note on Thursday, October 24th. Morgan Stanley upgraded AT&T from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $19.00 to $28.00 in a research report on Monday, December 16th. Finally, Sanford C. Bernstein increased their target price on AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $26.33.

About AT&T

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.