Summit X LLC Has $3.99 Million Stake in AT&T Inc. (T)
Summit X LLC grew its position in AT&T Inc. (NYSE:T) by 128.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 101,910 shares of the technology company’s stock after purchasing an additional 57,210 shares during the quarter. AT&T makes up about 2.6% of Summit X LLC’s portfolio, making the stock its 5th largest position. Summit X LLC’s holdings in AT&T were worth $3,991,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of the company. Holderness Investments Co. boosted its stake in AT&T by 62.9% during the first quarter. Holderness Investments Co. now owns 96,452 shares of the technology company’s stock worth $4,008,000 after acquiring an additional 37,234 shares in the last quarter. Doyle Wealth Management boosted its stake in AT&T by 4.3% during the second quarter. Doyle Wealth Management now owns 37,561 shares of the technology company’s stock worth $1,417,000 after acquiring an additional 1,559 shares in the last quarter. Telos Capital Management Inc. boosted its stake in AT&T by 4.8% during the second quarter. Telos Capital Management Inc. now owns 69,994 shares of the technology company’s stock worth $2,641,000 after acquiring an additional 3,197 shares in the last quarter. Altfest L J & Co. Inc. boosted its stake in AT&T by 42.1% during the second quarter. Altfest L J & Co. Inc. now owns 45,618 shares of the technology company’s stock worth $1,721,000 after acquiring an additional 13,510 shares in the last quarter. Finally, Welch Investments LLC boosted its stake in AT&T by 9.3% during the second quarter. Welch Investments LLC now owns 109,245 shares of the technology company’s stock worth $4,122,000 after acquiring an additional 9,291 shares in the last quarter. 55.76% of the stock is currently owned by institutional investors.
Several research analysts recently issued reports on the stock. Vetr raised shares of AT&T from a “hold” rating to a “buy” rating and set a $39.98 target price on the stock in a research note on Tuesday. Zacks Investment Research raised shares of AT&T from a “sell” rating to a “hold” rating in a research note on Tuesday. Jefferies Group reissued a “buy” rating and set a $36.38 target price (down from $48.00) on shares of AT&T in a research note on Friday, December 1st. Nomura cut their target price on shares of AT&T to $42.00 and set a “buy” rating on the stock in a research note on Tuesday, November 21st. Finally, Canaccord Genuity reissued a “buy” rating and set a $51.00 target price on shares of AT&T in a research note on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $42.83.
AT&T (NYSE:T) last released its quarterly earnings data on Tuesday, October 24th. The technology company reported $0.74 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.01). The business had revenue of $39.67 billion for the quarter, compared to analyst estimates of $40.34 billion. AT&T had a return on equity of 14.49% and a net margin of 8.00%. The business’s quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.74 EPS. equities analysts forecast that AT&T Inc. will post 2.92 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th will be issued a $0.50 dividend. The ex-dividend date is Tuesday, January 9th. This represents a $2.00 annualized dividend and a dividend yield of 5.19%. This is an increase from AT&T’s previous quarterly dividend of $0.49. AT&T’s dividend payout ratio is currently 94.69%.
In other news, Director Matthew K. Rose bought 29,600 shares of the stock in a transaction dated Wednesday, October 25th. The stock was bought at an average price of $33.75 per share, for a total transaction of $999,000.00. Following the completion of the acquisition, the director now directly owns 3,100 shares in the company, valued at approximately $104,625. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.09% of the company’s stock.
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AT&T Company Profile
AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.
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