Cahaba Wealth Management Inc. Has $893,000 Stake in AT&T Inc. (NYSE:T)

Cahaba Wealth Management Inc. lowered its stake in shares of AT&T Inc. (NYSE:T) by 2.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 39,205 shares of the technology company’s stock after selling 1,104 shares during the quarter. Cahaba Wealth Management Inc.’s holdings in AT&T were worth $893,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in T. 1620 Investment Advisors Inc. lifted its position in shares of AT&T by 1.6% during the 4th quarter. 1620 Investment Advisors Inc. now owns 26,161 shares of the technology company’s stock valued at $596,000 after acquiring an additional 421 shares during the period. Tradewinds Capital Management LLC raised its stake in AT&T by 48.6% in the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock valued at $30,000 after purchasing an additional 430 shares in the last quarter. Whittier Trust Co. lifted its position in AT&T by 0.7% during the fourth quarter. Whittier Trust Co. now owns 59,394 shares of the technology company’s stock worth $1,352,000 after purchasing an additional 433 shares during the period. Wealthstream Advisors Inc. grew its stake in AT&T by 3.7% during the fourth quarter. Wealthstream Advisors Inc. now owns 12,383 shares of the technology company’s stock worth $282,000 after buying an additional 444 shares in the last quarter. Finally, Northeast Investment Management increased its holdings in AT&T by 0.9% in the 4th quarter. Northeast Investment Management now owns 51,198 shares of the technology company’s stock valued at $1,166,000 after buying an additional 451 shares during the period. Institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

T has been the subject of a number of recent analyst reports. Scotiabank upped their price target on shares of AT&T from $28.50 to $29.00 and gave the stock a “sector outperform” rating in a report on Tuesday, April 8th. BNP Paribas upgraded AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 target price for the company in a research note on Thursday, February 13th. Citigroup reiterated a “buy” rating on shares of AT&T in a research note on Monday, April 7th. UBS Group upped their price objective on AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, Royal Bank of Canada raised their price objective on AT&T from $27.00 to $28.00 and gave the company an “outperform” rating in a research note on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and a consensus target price of $27.24.

AT&T Price Performance

Shares of T opened at $26.79 on Monday. The business has a 50-day moving average of $26.59 and a 200-day moving average of $23.99. 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 company has a market capitalization of $192.29 billion, a price-to-earnings ratio of 17.98, a price-to-earnings-growth ratio of 3.00 and a beta of 0.42. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $29.03.

AT&T (NYSE:T) last released its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. As a group, equities research analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be given a dividend of $0.2775 per share. The ex-dividend date is Thursday, April 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.14%. AT&T’s dividend payout ratio (DPR) is currently 74.50%.

AT&T Company Profile

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.