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

Summit Trail Advisors LLC grew its stake in shares of AT&T Inc. (NYSE:T) by 3.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 169,934 shares of the technology company’s stock after acquiring an additional 6,231 shares during the period. Summit Trail Advisors LLC’s holdings in AT&T were worth $3,739,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Larson Financial Group LLC lifted its position in shares of AT&T by 27.3% during the third quarter. Larson Financial Group LLC now owns 39,481 shares of the technology company’s stock worth $869,000 after acquiring an additional 8,460 shares in the last quarter. Managed Asset Portfolios LLC raised its position in shares of AT&T by 3.5% in the third quarter. Managed Asset Portfolios LLC now owns 778,351 shares of the technology company’s stock worth $17,124,000 after buying an additional 26,324 shares in the last quarter. Swedbank AB raised its position in shares of AT&T by 7.1% in the third quarter. Swedbank AB now owns 3,299,715 shares of the technology company’s stock worth $72,594,000 after buying an additional 219,382 shares in the last quarter. StoneX Group Inc. raised its position in shares of AT&T by 0.5% in the third quarter. StoneX Group Inc. now owns 128,059 shares of the technology company’s stock worth $2,817,000 after buying an additional 583 shares in the last quarter. Finally, WESPAC Advisors LLC purchased a new stake in shares of AT&T in the third quarter worth $825,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company lowered their price objective on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Redburn Atlantic upgraded AT&T to a “strong sell” rating in a research report on Monday, September 16th. Evercore ISI increased their price objective on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. Barclays increased their price objective on AT&T from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Finally, Oppenheimer increased their target price on AT&T from $23.00 to $24.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $23.40.

AT&T Stock Up 0.9 %

T opened at $23.18 on Friday. The company has a market cap of $166.32 billion, a P/E ratio of 18.85, a P/E/G ratio of 3.45 and a beta of 0.59. The business’s 50-day moving average price is $22.02 and its 200-day moving average price is $19.94. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $23.29.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. During the same quarter in the previous year, the business earned $0.64 EPS. AT&T’s revenue was down .5% compared to the same quarter last year. On average, equities analysts expect that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were issued a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.79%. AT&T’s dividend payout ratio is presently 90.24%.

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.