Summit Trail Advisors LLC Boosts Position in AT&T Inc. (NYSE:T)

Summit Trail Advisors LLC grew its holdings in AT&T Inc. (NYSE:T) by 1.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,101 shares of the technology company’s stock after acquiring an additional 986 shares during the period. Summit Trail Advisors LLC’s holdings in AT&T were worth $975,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Ameriprise Financial Inc. grew its stake in AT&T by 185.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 52,613,513 shares of the technology company’s stock valued at $790,301,000 after acquiring an additional 34,189,954 shares during the period. FMR LLC lifted its position in shares of AT&T by 130.5% in the third quarter. FMR LLC now owns 57,515,546 shares of the technology company’s stock valued at $863,884,000 after acquiring an additional 32,558,342 shares in the last quarter. California Public Employees Retirement System grew its stake in AT&T by 38.0% during the 3rd quarter. California Public Employees Retirement System now owns 34,558,594 shares of the technology company’s stock valued at $519,070,000 after acquiring an additional 9,518,478 shares in the last quarter. Barclays PLC grew its stake in shares of AT&T by 30.6% in the 3rd quarter. Barclays PLC now owns 26,227,124 shares of the technology company’s stock valued at $393,931,000 after buying an additional 6,137,909 shares during the period. Finally, AQR Capital Management LLC grew its stake in shares of AT&T by 43.0% in the 3rd quarter. AQR Capital Management LLC now owns 14,739,648 shares of the technology company’s stock valued at $221,242,000 after buying an additional 4,432,136 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Trading Up 0.8 %

Shares of T stock traded up $0.14 during mid-day trading on Monday, reaching $16.99. The company’s stock had a trading volume of 24,179,539 shares, compared to its average volume of 38,930,922. The company’s 50 day simple moving average is $16.97 and its 200-day simple moving average is $16.67. AT&T Inc. has a 12-month low of $13.43 and a 12-month high of $18.16. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $121.82 billion, a PE ratio of 9.15, a price-to-earnings-growth ratio of 3.32 and a beta of 0.57.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The business had revenue of $30.03 billion during the quarter, compared to analyst estimates of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The business’s revenue was down .4% on a year-over-year basis. During the same period last year, the business earned $0.60 EPS. On average, research analysts predict that AT&T Inc. will post 2.24 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 6.53%. The ex-dividend date of this dividend was Tuesday, April 9th. AT&T’s dividend payout ratio is currently 59.68%.

Analyst Ratings Changes

Several equities analysts have recently commented on T shares. Citigroup upped their price objective on shares of AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Wolfe Research upgraded shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a report on Tuesday, March 5th. Barclays upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 target price on the stock in a report on Monday, April 29th. Deutsche Bank Aktiengesellschaft increased their target price on shares of AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $17.00 target price on shares of AT&T in a report on Thursday, April 11th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $20.81.

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.