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

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

A number of other large investors have also recently bought and sold shares of the stock. Octavia Wealth Advisors LLC raised its stake in AT&T by 2.1% during the second quarter. Octavia Wealth Advisors LLC now owns 25,313 shares of the technology company’s stock worth $484,000 after buying an additional 519 shares during the last quarter. WealthCare Investment Partners LLC grew its holdings in AT&T by 2.2% during the 2nd quarter. WealthCare Investment Partners LLC now owns 24,138 shares of the technology company’s stock worth $461,000 after acquiring an additional 525 shares during the period. Integral Investment Advisors Inc. raised its position in shares of AT&T by 3.2% in the 2nd quarter. Integral Investment Advisors Inc. now owns 17,177 shares of the technology company’s stock worth $322,000 after acquiring an additional 538 shares in the last quarter. Financial Counselors Inc. lifted its stake in shares of AT&T by 0.6% in the 2nd quarter. Financial Counselors Inc. now owns 92,450 shares of the technology company’s stock valued at $1,767,000 after purchasing an additional 539 shares during the period. Finally, Fortitude Family Office LLC boosted its position in shares of AT&T by 1.3% during the 2nd quarter. Fortitude Family Office LLC now owns 42,154 shares of the technology company’s stock valued at $806,000 after purchasing an additional 559 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on T. Deutsche Bank Aktiengesellschaft increased their target price on shares of AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. TD Cowen upped their price target on AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. BNP Paribas upgraded AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. 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 report on Thursday, July 25th. Finally, Oppenheimer upped their price objective on shares of AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a 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 company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.06.

AT&T Stock Up 1.6 %

AT&T stock opened at $20.99 on Friday. AT&T Inc. has a twelve month low of $14.12 and a twelve month high of $21.00. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. The firm has a 50 day moving average price of $19.31 and a 200-day moving average price of $18.00. The company 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 (NYSE:T) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, hitting the consensus estimate of $0.57. The company had revenue of $29.80 billion during the quarter, compared to analyst estimates of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The firm’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter last year, the firm posted $0.63 EPS. As a group, equities analysts predict that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were issued 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 payout ratio is presently 59.68%.

AT&T Company 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.