Cherokee Insurance Co Makes New Investment in AT&T Inc. $T

Cherokee Insurance Co bought a new stake in AT&T Inc. (NYSE:T) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 12,000 shares of the technology company’s stock, valued at approximately $347,000.

A number of other institutional investors have also recently made changes to their positions in T. Denali Advisors LLC lifted its position in AT&T by 5.9% during the second quarter. Denali Advisors LLC now owns 401,037 shares of the technology company’s stock worth $11,606,000 after buying an additional 22,394 shares in the last quarter. Tredje AP fonden increased its stake in shares of AT&T by 1.8% in the 2nd quarter. Tredje AP fonden now owns 1,221,395 shares of the technology company’s stock worth $35,347,000 after acquiring an additional 21,720 shares during the last quarter. CHURCHILL MANAGEMENT Corp raised its holdings in shares of AT&T by 1.5% during the 2nd quarter. CHURCHILL MANAGEMENT Corp now owns 324,104 shares of the technology company’s stock worth $9,380,000 after acquiring an additional 4,793 shares during the period. Kickstand Ventures LLC. acquired a new position in shares of AT&T during the 2nd quarter valued at about $489,000. Finally, Sentry Investment Management LLC grew its holdings in shares of AT&T by 153.2% in the second quarter. Sentry Investment Management LLC now owns 22,095 shares of the technology company’s stock valued at $625,000 after purchasing an additional 13,370 shares during the period. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Performance

NYSE:T opened at $25.64 on Thursday. AT&T Inc. has a fifty-two week low of $21.38 and a fifty-two week high of $29.79. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.96 and a current ratio of 1.01. The company has a 50 day moving average price of $26.91 and a 200 day moving average price of $27.58. The stock has a market capitalization of $181.74 billion, a P/E ratio of 8.32, a PEG ratio of 2.16 and a beta of 0.40.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 EPS for the quarter, hitting analysts’ consensus estimates of $0.54. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The company had revenue of $30.71 billion for the quarter, compared to analysts’ expectations of $30.85 billion. During the same period in the prior year, the firm earned $0.60 earnings per share. The firm’s revenue was up 1.7% compared to the same quarter last year. Equities research analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 10th were issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date was Friday, October 10th. AT&T’s dividend payout ratio (DPR) is 36.04%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Williams Trading set a $33.00 target price on shares of AT&T in a research note on Thursday, October 23rd. TD Cowen increased their price target on shares of AT&T from $32.00 to $33.00 and gave the company a “hold” rating in a research note on Thursday, October 23rd. KeyCorp raised shares of AT&T from a “sector weight” rating to an “overweight” rating and set a $30.00 price target on the stock in a research report on Tuesday. Scotiabank set a $30.25 price objective on AT&T and gave the company a “sector perform” rating in a report on Monday, October 6th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of AT&T in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.64.

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.