AT&T Inc. (NYSE:T) Shares Purchased by Summit Trail Advisors LLC

Summit Trail Advisors LLC grew its holdings in shares of AT&T Inc. (NYSE:T) by 38.5% in the second quarter, according to its most recent filing with the SEC. The firm owned 163,703 shares of the technology company’s stock after acquiring an additional 45,525 shares during the quarter. Summit Trail Advisors LLC’s holdings in AT&T were worth $3,128,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Octavia Wealth Advisors LLC raised its position in AT&T by 2.1% in the 2nd quarter. Octavia Wealth Advisors LLC now owns 25,313 shares of the technology company’s stock worth $484,000 after purchasing an additional 519 shares during the last quarter. Carolinas Wealth Consulting LLC increased its position in AT&T by 2.3% in the second quarter. Carolinas Wealth Consulting LLC now owns 23,650 shares of the technology company’s stock worth $452,000 after purchasing an additional 521 shares during the period. WealthCare Investment Partners LLC raised its holdings in AT&T by 2.2% during the 2nd quarter. WealthCare Investment Partners LLC now owns 24,138 shares of the technology company’s stock worth $461,000 after purchasing an additional 525 shares during the last quarter. Integral Investment Advisors Inc. boosted its stake in shares of AT&T by 3.2% in the 2nd quarter. Integral Investment Advisors Inc. now owns 17,177 shares of the technology company’s stock valued at $322,000 after purchasing an additional 538 shares during the last quarter. Finally, Financial Counselors Inc. grew its position in shares of AT&T by 0.6% during the 2nd quarter. Financial Counselors Inc. now owns 92,450 shares of the technology company’s stock worth $1,767,000 after buying an additional 539 shares during the period. 57.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

T has been the subject of a number of analyst reports. Daiwa America raised shares of AT&T to a “hold” rating in a report on Friday, July 26th. Redburn Atlantic raised AT&T to a “strong sell” rating in a research note on Monday, September 16th. Citigroup upped their price target on AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Oppenheimer boosted their price objective on shares of AT&T from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, The Goldman Sachs Group initiated coverage on shares of AT&T in a report on Monday, July 1st. They issued a “buy” rating and a $22.00 price target for the company. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $22.31.

AT&T Stock Up 0.7 %

Shares of AT&T stock opened at $21.52 on Friday. 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. The business’s 50 day simple moving average is $19.88 and its 200 day simple moving average is $18.34. The firm has a market cap of $154.30 billion, a PE ratio of 11.57, a P/E/G ratio of 3.79 and a beta of 0.59.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The company had revenue of $29.80 billion for the quarter, compared to the consensus estimate of $30.05 billion. During the same period last year, the company earned $0.63 earnings per share. The firm’s revenue was down .3% compared to the same quarter last year. On average, analysts predict that AT&T Inc. will post 2.2 earnings per share for the current fiscal year.

AT&T Announces Dividend

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

About AT&T

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.