AT&T Inc. $T Shares Sold by Summitry LLC

Summitry LLC lessened its stake in shares of AT&T Inc. (NYSE:T) by 1.0% during the second quarter, Holdings Channel.com reports. The fund owned 243,939 shares of the technology company’s stock after selling 2,434 shares during the period. Summitry LLC’s holdings in AT&T were worth $7,060,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Denali Advisors LLC boosted its stake in shares of AT&T by 5.9% during the 2nd quarter. Denali Advisors LLC now owns 401,037 shares of the technology company’s stock worth $11,606,000 after acquiring an additional 22,394 shares in the last quarter. Tredje AP fonden lifted its holdings in shares of AT&T by 1.8% during the second quarter. Tredje AP fonden now owns 1,221,395 shares of the technology company’s stock valued at $35,347,000 after purchasing an additional 21,720 shares during the last quarter. CHURCHILL MANAGEMENT Corp boosted its position in shares of AT&T by 1.5% in the 2nd quarter. CHURCHILL MANAGEMENT Corp now owns 324,104 shares of the technology company’s stock valued at $9,380,000 after purchasing an additional 4,793 shares during the period. Kickstand Ventures LLC. purchased a new position in AT&T in the 2nd quarter worth about $489,000. Finally, Sentry Investment Management LLC raised its holdings in AT&T by 153.2% during the 2nd quarter. Sentry Investment Management LLC now owns 22,095 shares of the technology company’s stock worth $625,000 after buying an additional 13,370 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Price Performance

T opened at $25.58 on Friday. The stock has a market cap of $181.31 billion, a price-to-earnings ratio of 8.30, a PEG ratio of 2.16 and a beta of 0.40. AT&T Inc. has a 1 year low of $21.38 and a 1 year high of $29.79. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 1.01. The stock has a fifty day moving average price of $26.75 and a 200 day moving average price of $27.56.

AT&T (NYSE:T) last issued its earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, hitting the consensus estimate of $0.54. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The company had revenue of $30.71 billion for the quarter, compared to analyst estimates of $30.85 billion. During the same period in the prior year, the firm posted $0.60 EPS. The business’s revenue was up 1.7% compared to the same quarter last year. Analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 10th were given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend was Friday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 36.04%.

Analyst Upgrades and Downgrades

Several research analysts have commented on T shares. Raymond James Financial reiterated a “strong-buy” rating and issued a $33.00 target price (up from $31.00) on shares of AT&T in a report on Thursday, September 18th. TD Cowen upped their price target on shares of AT&T from $32.00 to $33.00 and gave the company a “hold” rating in a research report on Thursday, October 23rd. Cowen reiterated a “hold” rating on shares of AT&T in a research report on Thursday, October 23rd. Barclays reduced their target price on AT&T from $30.00 to $28.00 and set an “equal weight” rating for the company in a report on Thursday, October 23rd. Finally, Scotiabank set a $30.25 target price on AT&T and gave the stock a “sector perform” rating in a research report on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, AT&T has a consensus rating of “Moderate Buy” and an average price target of $30.64.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.