AT&T Inc. $T Shares Acquired by Summit Global Investments

Summit Global Investments lifted its stake in shares of AT&T Inc. (NYSE:T) by 101.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 61,951 shares of the technology company’s stock after buying an additional 31,144 shares during the quarter. Summit Global Investments’ holdings in AT&T were worth $1,512,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of T. Parr Mcknight Wealth Management Group LLC acquired a new position in shares of AT&T during the 1st quarter worth $2,901,000. Sound Income Strategies LLC increased its holdings in shares of AT&T by 19.8% in the 3rd quarter. Sound Income Strategies LLC now owns 754,818 shares of the technology company’s stock valued at $18,772,000 after purchasing an additional 124,997 shares in the last quarter. Orographic Financial Advisors LLC acquired a new stake in shares of AT&T in the first quarter valued at about $3,449,000. B.A. Schrock Wealth Management Inc. acquired a new stake in shares of AT&T in the third quarter valued at about $1,583,000. Finally, Quintet Private Bank Europe S.A. lifted its stake in shares of AT&T by 44.1% in the third quarter. Quintet Private Bank Europe S.A. now owns 2,451,253 shares of the technology company’s stock valued at $59,811,000 after purchasing an additional 750,364 shares during the period. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T News Summary

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

• Positive Sentiment: Fresh estimates indicate that building a nationwide wireless network would be expensive for SpaceX, reducing the near-term threat to established carriers such as AT&T. T-Mobile’s decision not to pursue an MVNO arrangement with SpaceX also suggests incumbents are not immediately embracing the proposed rival. T-Mobile, SpaceX and wireless competition article
• Positive Sentiment: Televisa expects AT&T’s planned purchase to strengthen its competitive position. A stronger strategic footprint could support AT&T’s long-term growth and operating leverage, although the transaction is expected to increase debt. Televisa expects AT&T purchase to strengthen position
• Neutral Sentiment: Wireless pioneer Ray Dolan suggested mobile internet could eventually become free if carriers monetize data collected from cell-tower sensing. The idea highlights a possible future revenue stream for AT&T, but it is speculative and unlikely to affect near-term earnings. Wireless carriers and free mobile internet article
• Negative Sentiment: AT&T’s dividend payments reportedly fell 46% while the company directed billions toward share repurchases. Buybacks can support per-share earnings and signal management confidence, but the reduced dividend is a drawback for income-focused investors and raises questions about whether capital returns are being shifted away from cash payouts. AT&T dividend payments and stock buybacks article

AT&T Price Performance

AT&T stock opened at $21.45 on Monday. The stock has a market capitalization of $144.50 billion, a P/E ratio of 11.59, a P/E/G ratio of 1.06 and a beta of 0.30. AT&T Inc. has a 12-month low of $19.89 and a 12-month high of $29.43. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.87 and a quick ratio of 0.82. The firm’s 50-day moving average is $24.36 and its two-hundred day moving average is $24.96.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, October 21st. The technology company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.05. The business had revenue of $32.32 billion during the quarter, compared to analyst estimates of $31.69 billion. AT&T had a net margin of 10.19% and a return on equity of 13.41%. The company’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.54 earnings per share. Equities analysts predict that AT&T Inc. will post 2.39 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Monday, October 12th will be issued a $0.2775 dividend. The ex-dividend date is Friday, October 9th. This represents a $1.11 annualized dividend and a yield of 5.2%. AT&T’s payout ratio is 60.00%.

Wall Street Analyst Weigh In

A number of analysts recently commented on T shares. The Goldman Sachs Group set a $27.00 price objective on shares of AT&T in a report on Wednesday, October 21st. Wolfe Research raised shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $29.00 target price for the company in a report on Thursday, July 23rd. Barclays reduced their price target on shares of AT&T from $24.00 to $21.00 and set an “equal weight” rating for the company in a research report on Thursday, October 22nd. Scotiabank decreased their price target on AT&T from $27.50 to $26.50 and set a “sector perform” rating on the stock in a research note on Friday, October 9th. Finally, Sanford C. Bernstein downgraded AT&T from an “outperform” rating to a “market perform” rating and set a $24.00 price objective for the company. in a research note on Tuesday, October 13th. Twelve investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $28.55.

About AT&T

AT&T Inc (NYSE: T) is a telecommunications company that provides wireless communications, broadband, and related connectivity services. Its offerings include mobile voice and data plans, internet access, fiber broadband, fixed wireless services, and business communications solutions.

The company serves consumers, businesses, government agencies, and other organizations primarily in the United States. AT&T’s business operations include wireless network services, wireline connectivity, fiber-optic internet, voice services, and networking solutions designed to connect locations, devices, and applications.

AT&T traces its history to the Bell System and has operated under its current corporate name since 2005, following the acquisition of AT&T Corp.