Cahaba Wealth Management Inc. Acquires 5,392 Shares of AT&T Inc. (NYSE:T)

Cahaba Wealth Management Inc. lifted its stake in AT&T Inc. (NYSE:T) by 24.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,337 shares of the technology company’s stock after buying an additional 5,392 shares during the period. Cahaba Wealth Management Inc.’s holdings in AT&T were worth $522,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Cantor Fitzgerald Investment Advisors L.P. bought a new position in shares of AT&T during the fourth quarter valued at about $11,554,000. Clearbridge Investments LLC lifted its holdings in AT&T by 250.3% in the 4th quarter. Clearbridge Investments LLC now owns 67,303 shares of the technology company’s stock worth $1,129,000 after buying an additional 48,091 shares during the period. Skopos Labs Inc. bought a new stake in shares of AT&T in the 4th quarter worth approximately $839,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of AT&T by 4.3% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 1,037,529 shares of the technology company’s stock valued at $19,827,000 after buying an additional 43,062 shares during the period. Finally, M&G Plc purchased a new stake in AT&T in the first quarter worth $9,074,000. 57.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on T. Moffett Nathanson boosted their price objective 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. UBS Group reiterated a “buy” rating and set a $24.00 price target on shares of AT&T in a research report on Tuesday, June 18th. The Goldman Sachs Group began coverage on shares of AT&T in a report on Monday, July 1st. They issued a “buy” rating and a $22.00 price objective for the company. BNP Paribas raised AT&T from an “underperform” rating to a “neutral” rating in a research report on Tuesday, June 11th. Finally, Evercore ISI increased their target price on AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a research report on Thursday, July 25th. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.06.

AT&T Price Performance

T opened at $20.99 on Friday. The company’s 50-day simple moving average is $19.31 and its two-hundred day simple moving average is $18.00. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. The stock has a market capitalization of $150.47 billion, a P/E ratio of 11.28, a P/E/G ratio of 3.36 and a beta of 0.59. AT&T Inc. has a 52-week low of $14.12 and a 52-week high of $21.00.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The company had revenue of $29.80 billion for the quarter, compared to the consensus estimate of $30.05 billion. During the same quarter in the prior year, the firm earned $0.63 earnings per share. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. As a group, analysts predict that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 5.29%. The ex-dividend date of this dividend was Wednesday, July 10th. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

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.