Summit Trail Advisors LLC Purchases 6,231 Shares of AT&T Inc. (NYSE:T)

Summit Trail Advisors LLC raised its position in shares of AT&T Inc. (NYSE:T) by 3.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 169,934 shares of the technology company’s stock after acquiring an additional 6,231 shares during the quarter. Summit Trail Advisors LLC’s holdings in AT&T were worth $3,739,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Bank of New York Mellon Corp boosted its position in AT&T by 7.4% during 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 acquiring an additional 5,592,123 shares in the last quarter. Legal & General Group Plc boosted its position in shares of AT&T by 2.7% in the 2nd quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock worth $1,148,689,000 after purchasing an additional 1,569,374 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of AT&T by 2.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock worth $985,307,000 after purchasing an additional 1,007,228 shares in the last quarter. LSV Asset Management boosted its position in shares of AT&T by 1.1% in the 2nd quarter. LSV Asset Management now owns 30,092,610 shares of the technology company’s stock worth $575,070,000 after purchasing an additional 315,580 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its position in shares of AT&T by 2.5% in the 2nd quarter. Pacer Advisors Inc. now owns 28,113,880 shares of the technology company’s stock worth $537,256,000 after purchasing an additional 675,082 shares in the last quarter. 57.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

T has been the topic of a number of analyst reports. Barclays boosted their price target on AT&T from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Tigress Financial boosted their price target on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Moffett Nathanson upped their price objective on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Redburn Atlantic raised AT&T to a “strong sell” rating in a research report on Monday, September 16th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $22.00 price objective on shares of AT&T in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and an average price target of $23.40.

AT&T Price Performance

Shares of T opened at $23.18 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The firm has a market cap of $166.32 billion, a PE ratio of 18.85, a P/E/G ratio of 3.45 and a beta of 0.59. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $23.29. The firm has a fifty day simple moving average of $22.02 and a two-hundred day simple moving average of $19.94.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. The firm had revenue of $30.20 billion during the quarter, compared to analyst estimates of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. AT&T’s revenue was down .5% on a year-over-year basis. During the same period in the prior year, the business posted $0.64 EPS. On average, equities analysts anticipate that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were paid a $0.2775 dividend. The ex-dividend date was Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.79%. AT&T’s dividend payout ratio (DPR) is 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.