Summit Trail Advisors LLC Has $975,000 Stake in AT&T Inc. (NYSE:T)

Summit Trail Advisors LLC increased its position in AT&T Inc. (NYSE:T) by 1.7% during the fourth quarter, Holdings Channel reports. The firm owned 58,101 shares of the technology company’s stock after buying an additional 986 shares during the quarter. Summit Trail Advisors LLC’s holdings in AT&T were worth $975,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in T. Carmel Capital Partners LLC increased its position in AT&T by 16,250.0% in the 3rd quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock valued at $25,000 after acquiring an additional 1,625 shares during the period. Lipe & Dalton acquired a new position in AT&T in the 3rd quarter valued at approximately $30,000. Ramirez Asset Management Inc. acquired a new position in AT&T in the 3rd quarter valued at approximately $30,000. Farmers & Merchants Trust Co of Chambersburg PA boosted its stake in shares of AT&T by 35.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock valued at $39,000 after purchasing an additional 606 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. raised its stake in AT&T by 3,202.4% during the third quarter. Financial Gravity Asset Management Inc. now owns 2,708 shares of the technology company’s stock worth $41,000 after buying an additional 2,626 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

T has been the subject of a number of analyst reports. StockNews.com downgraded shares of AT&T from a “buy” rating to a “hold” rating in a research note on Friday. Royal Bank of Canada reissued a “sector perform” rating and set a $17.00 target price on shares of AT&T in a research note on Thursday, April 11th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Barclays raised shares of AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 target price for the company in a research note on Monday, April 29th. Finally, TheStreet raised shares of AT&T from a “c” rating to a “b-” rating in a research note on Wednesday, January 24th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, AT&T presently has an average rating of “Moderate Buy” and an average price target of $20.81.

AT&T Price Performance

T stock traded up $0.14 during midday trading on Monday, reaching $16.99. The company had a trading volume of 24,179,539 shares, compared to its average volume of 38,930,922. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.63. AT&T Inc. has a 1 year low of $13.43 and a 1 year high of $18.16. The company has a market capitalization of $121.82 billion, a P/E ratio of 9.15, a P/E/G ratio of 3.32 and a beta of 0.57. The firm has a 50-day moving average price of $16.97 and a 200-day moving average price of $16.67.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The business had revenue of $30.03 billion during the quarter, compared to analysts’ expectations of $30.62 billion. During the same quarter in the previous year, the company earned $0.60 EPS. The business’s quarterly revenue was down .4% compared to the same quarter last year. On average, research analysts anticipate that AT&T Inc. will post 2.24 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th were paid a $0.2775 dividend. The ex-dividend date was Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.53%. AT&T’s dividend payout ratio (DPR) is 59.68%.

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.