CIBC Asset Management Inc Buys 673,484 Shares of AT&T Inc. $T

Key Points

• CIBC Asset Management boosted its AT&T stake by 67.2% in the fourth quarter, buying 673,484 additional shares and bringing its total holding to 1,675,079 shares worth about $41.6 million.
• AT&T is facing fresh analyst caution, with Oppenheimer downgrading the stock to “Perform” due to competitive risks from SpaceX and potential pressure from Amazon Leo on its broadband growth outlook.
• The company recently beat quarterly earnings expectations, posting $0.57 EPS on $31.51 billion in revenue, while also maintaining a 4.7% dividend yield and setting FY 2026 EPS guidance at 2.25 to 2.35.

CIBC Asset Management Inc lifted its stake in AT&T Inc. (NYSE:T - Free Report) by 67.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,675,079 shares of the technology company's stock after purchasing an additional 673,484 shares during the period. CIBC Asset Management Inc's holdings in AT&T were worth $41,609,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Marble Wealth LLC bought a new position in shares of AT&T in the 4th quarter worth $1,853,000. Bruce G. Allen Investments LLC lifted its holdings in AT&T by 1.7% during the fourth quarter. Bruce G. Allen Investments LLC now owns 22,398 shares of the technology company's stock worth $556,000 after acquiring an additional 374 shares in the last quarter. Greenwich Wealth Management LLC lifted its holdings in AT&T by 54.9% during the fourth quarter. Greenwich Wealth Management LLC now owns 12,066 shares of the technology company's stock worth $300,000 after acquiring an additional 4,274 shares in the last quarter. Camden National Bank grew its stake in AT&T by 1.5% in the fourth quarter. Camden National Bank now owns 26,191 shares of the technology company's stock valued at $651,000 after acquiring an additional 382 shares during the period. Finally, Fielder Capital Group LLC increased its holdings in shares of AT&T by 10.7% in the fourth quarter. Fielder Capital Group LLC now owns 8,978 shares of the technology company's stock worth $223,000 after acquiring an additional 870 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

T has been the subject of several recent analyst reports. Weiss Ratings downgraded AT&T from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday, May 29th. Arete Research upgraded AT&T from a "sell" rating to a "neutral" rating and set a $28.00 price target for the company in a report on Tuesday, March 10th. Scotiabank lowered their price target on AT&T from $31.50 to $31.00 and set a "sector perform" rating for the company in a report on Thursday, April 23rd. Morgan Stanley initiated coverage on AT&T in a report on Thursday, April 16th. They issued an "overweight" rating and a $30.00 price target for the company. Finally, Citigroup increased their price target on AT&T from $29.00 to $31.50 and gave the stock a "buy" rating in a report on Monday, March 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $30.55.

Key AT&T News

Here are the key news stories impacting AT&T this week:

• Negative Sentiment: Oppenheimer downgraded AT&T to “Perform”, citing rising competitive risk from SpaceX’s satellite broadband ambitions and potential pressure from Amazon Leo. Analysts warned that investors may be underestimating the threat to AT&T’s fiber and internet growth outlook. Article Title
• Negative Sentiment: Investors are also focused on AT&T’s fiber spending and whether heavy investment will weigh on free cash flow and dividend coverage in the near term, which is adding to caution around the stock. Article Title
• Neutral Sentiment: AT&T announced a simplified home fiber pricing structure, aiming to make its internet plans easier to understand and potentially more attractive to bundled wireless customers. The move could help sales, but it also highlights continued competition on pricing. Article Title
• Neutral Sentiment: AT&T also announced a new Disney/Pixar “Toy Story 5” campaign and an expanded connected-car collaboration with LiveOne and Cisco. These developments support brand and ecosystem expansion, but they are not likely the main drivers of the stock today. Article Title Article Title

AT&T Stock Performance

Shares of AT&T stock opened at $23.55 on Thursday. The firm has a market cap of $163.65 billion, a price-to-earnings ratio of 7.90, a price-to-earnings-growth ratio of 0.90 and a beta of 0.21. The stock's 50-day moving average is $26.14 and its 200-day moving average is $25.99. AT&T Inc. has a one year low of $22.95 and a one year high of $29.79. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.92 and a quick ratio of 0.87.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The technology company reported $0.57 EPS for the quarter, beating analysts' consensus estimates of $0.55 by $0.02. The company had revenue of $31.51 billion for the quarter, compared to analyst estimates of $31.29 billion. AT&T had a return on equity of 12.49% and a net margin of 16.94%.The company's quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.51 earnings per share. AT&T has set its FY 2026 guidance at 2.250-2.350 EPS. Equities analysts predict that AT&T Inc. will post 2.31 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 1st. Stockholders of record on Friday, April 10th were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date was Friday, April 10th. AT&T's payout ratio is 37.25%.

About AT&T

AT&T Inc is a global telecommunications company that provides a broad range of communications and digital entertainment services. Its core activities include consumer and business wireless services, broadband and fiber internet, and network infrastructure. The company operates branded wireless services through AT&T Mobility and deploys fixed-line and fiber networks to deliver high-speed internet and related home services.

AT&T's product and service portfolio spans mobile voice and data plans, smartphones and device sales, home internet (including fiber-to-the-home where available), and managed connectivity solutions for enterprise customers.

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