Cherry Creek Investment Advisors Inc. Has $2.77 Million Stake in AT&T Inc. (NYSE:T)

Cherry Creek Investment Advisors Inc. boosted its position in shares of AT&T Inc. (NYSE:T) by 22.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 121,539 shares of the technology company’s stock after acquiring an additional 22,658 shares during the quarter. AT&T accounts for approximately 1.4% of Cherry Creek Investment Advisors Inc.’s investment portfolio, making the stock its 21st biggest holding. Cherry Creek Investment Advisors Inc.’s holdings in AT&T were worth $2,767,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in T. Legacy Investment Solutions LLC acquired a new stake in AT&T during the 3rd quarter valued at $25,000. Ritter Daniher Financial Advisory LLC DE increased its holdings in shares of AT&T by 169.2% in the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after purchasing an additional 841 shares during the last quarter. Endeavor Private Wealth Inc. bought a new position in shares of AT&T in the fourth quarter valued at about $34,000. Reston Wealth Management LLC acquired a new stake in shares of AT&T during the 3rd quarter worth about $35,000. Finally, Safe Harbor Fiduciary LLC bought a new stake in shares of AT&T during the 3rd quarter worth about $35,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on T. Argus raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Thursday, January 16th. New Street Research upgraded AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. The Goldman Sachs Group lifted their price target on AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Evercore ISI upped their price objective on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. Finally, Wells Fargo & Company dropped their target price on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, AT&T currently has an average rating of “Moderate Buy” and a consensus price target of $25.83.

AT&T Stock Performance

Shares of AT&T stock opened at $24.12 on Tuesday. The company’s 50 day moving average price is $22.80 and its two-hundred day moving average price is $21.48. The firm has a market capitalization of $173.05 billion, a P/E ratio of 19.61, a P/E/G ratio of 3.50 and a beta of 0.59. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $24.37. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67.

AT&T (NYSE:T) last released its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share 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%. On average, equities analysts forecast that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Announces Dividend

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 paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.60%. The ex-dividend date is Friday, January 10th. AT&T’s payout ratio is currently 90.24%.

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.