Summit Trail Advisors LLC Has $3.13 Million Position in AT&T Inc. (NYSE:T)

Summit Trail Advisors LLC lifted its position in shares of AT&T Inc. (NYSE:T) by 38.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 163,703 shares of the technology company’s stock after purchasing an additional 45,525 shares during the period. Summit Trail Advisors LLC’s holdings in AT&T were worth $3,128,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in AT&T by 0.4% during the first quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock worth $10,999,912,000 after acquiring an additional 2,588,539 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in AT&T by 7.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock valued at $1,549,375,000 after purchasing an additional 5,592,123 shares during the period. LSV Asset Management boosted its stake in AT&T by 1.1% in the 2nd quarter. LSV Asset Management now owns 30,092,610 shares of the technology company’s stock valued at $575,070,000 after purchasing an additional 315,580 shares during the period. Pacer Advisors Inc. grew its holdings in AT&T by 2.5% in the 2nd quarter. Pacer Advisors Inc. now owns 28,113,880 shares of the technology company’s stock valued at $537,256,000 after buying an additional 675,082 shares in the last quarter. Finally, Thornburg Investment Management Inc. increased its position in AT&T by 22.0% during the 2nd quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock worth $477,528,000 after buying an additional 4,511,725 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Citigroup upped their price target on shares of AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. BNP Paribas raised shares of AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. Barclays boosted their price target on AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Evercore ISI raised their price objective on AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a research note on Thursday, July 25th. Finally, UBS Group reiterated a “buy” rating and set a $24.00 target price on shares of AT&T in a research report on Tuesday, June 18th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $22.31.

AT&T Trading Up 0.7 %

Shares of NYSE T opened at $21.52 on Friday. The firm has a 50 day moving average price of $19.88 and a two-hundred day moving average price of $18.34. The stock has a market cap of $154.30 billion, a P/E ratio of 11.57, a price-to-earnings-growth ratio of 3.79 and a beta of 0.59. AT&T Inc. has a 52-week low of $14.12 and a 52-week high of $22.34. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70.

AT&T (NYSE:T) last announced its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.57. The business had revenue of $29.80 billion during the quarter, compared to analyst estimates of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. AT&T’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period last year, the company earned $0.63 EPS. As a group, equities analysts forecast that AT&T Inc. will post 2.2 EPS for the current year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 5.16%. The ex-dividend date of this dividend was Wednesday, July 10th. AT&T’s payout ratio is presently 59.68%.

AT&T 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.