AT&T Inc. (NYSE:T) Position Lifted by Summit X LLC

Summit X LLC grew its holdings in shares of AT&T Inc. (NYSE:T) by 128.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 101,910 shares of the technology company’s stock after purchasing an additional 57,210 shares during the period. AT&T makes up about 2.6% of Summit X LLC’s portfolio, making the stock its 5th biggest holding. Summit X LLC’s holdings in AT&T were worth $3,991,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Almanack Investment Partners LLC. acquired a new stake in shares of AT&T during the 1st quarter valued at about $109,000. Sterling Investment Advisors Ltd. grew its position in shares of AT&T by 289.1% during the 1st quarter. Sterling Investment Advisors Ltd. now owns 2,724 shares of the technology company’s stock valued at $113,000 after acquiring an additional 2,024 shares during the period. Mountain Capital Investment Advisors Inc acquired a new stake in shares of AT&T during the 2nd quarter valued at about $134,000. CKW Financial Group grew its position in shares of AT&T by 83.9% during the 2nd quarter. CKW Financial Group now owns 3,780 shares of the technology company’s stock valued at $144,000 after acquiring an additional 1,724 shares during the period. Finally, Israel Discount Bank of New York grew its position in shares of AT&T by 0.6% during the 2nd quarter. Israel Discount Bank of New York now owns 4,075 shares of the technology company’s stock valued at $154,000 after acquiring an additional 25 shares during the period. Hedge funds and other institutional investors own 55.76% of the company’s stock.

In other news, Director Matthew K. Rose bought 29,600 shares of the stock in a transaction that occurred on Wednesday, October 25th. The stock was purchased at an average price of $33.75 per share, for a total transaction of $999,000.00. Following the completion of the purchase, the director now owns 3,100 shares in the company, valued at approximately $104,625. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.09% of the company’s stock.

Several research firms recently issued reports on T. Zacks Investment Research upgraded AT&T from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a report on Wednesday, October 11th. Vetr lowered shares of AT&T from a “strong-buy” rating to a “buy” rating and set a $44.24 target price on the stock. in a research note on Friday, October 6th. Standpoint Research initiated coverage on shares of AT&T in a research note on Wednesday, November 8th. They issued a “buy” rating and a $40.00 target price on the stock. Citigroup raised their target price on shares of AT&T from $52.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday, November 10th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $51.00 target price on shares of AT&T in a research note on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $42.59.

AT&T Inc. (NYSE T) traded up $0.42 during trading hours on Friday, hitting $36.90. 31,180,000 shares of the company’s stock traded hands, compared to its average volume of 31,670,000. The firm has a market capitalization of $226,530.00, a P/E ratio of 17.74, a price-to-earnings-growth ratio of 3.14 and a beta of 0.44. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.23. AT&T Inc. has a fifty-two week low of $32.55 and a fifty-two week high of $42.70.

AT&T (NYSE:T) last issued its earnings results on Tuesday, October 24th. The technology company reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.01). The firm had revenue of $39.67 billion for the quarter, compared to analyst estimates of $40.34 billion. AT&T had a return on equity of 14.49% and a net margin of 8.00%. The business’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.74 EPS. research analysts expect that AT&T Inc. will post 2.92 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 10th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.42%. This is an increase from AT&T’s previous quarterly dividend of $0.49. AT&T’s payout ratio is presently 96.15%.

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About AT&T

AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.

Institutional Ownership by Quarter for AT&T (NYSE:T)

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