149,723 Shares in AT&T Inc. (NYSE:T) Acquired by Summit Global Investments

Summit Global Investments acquired a new position in shares of AT&T Inc. (NYSE:T) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 149,723 shares of the technology company’s stock, valued at approximately $3,409,000.

Other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC increased its holdings in AT&T by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock worth $3,532,684,000 after purchasing an additional 3,630,972 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of AT&T by 7.1% in the fourth quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company’s stock valued at $1,948,943,000 after acquiring an additional 5,649,277 shares during the period. FMR LLC raised its holdings in shares of AT&T by 1.9% in the third quarter. FMR LLC now owns 60,986,064 shares of the technology company’s stock valued at $1,341,693,000 after buying an additional 1,149,688 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in AT&T by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 53,057,676 shares of the technology company’s stock worth $1,208,123,000 after acquiring an additional 414,984 shares during the period. Finally, Amundi increased its stake in AT&T by 19.8% in the 4th quarter. Amundi now owns 33,963,826 shares of the technology company’s stock valued at $753,318,000 after buying an additional 5,614,168 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on T shares. New Street Research raised AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. Royal Bank of Canada raised their price target on AT&T from $27.00 to $28.00 and gave the stock an “outperform” rating in a research report on Wednesday. JPMorgan Chase & Co. boosted their price objective on shares of AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Barclays increased their target price on AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Finally, Scotiabank boosted their price objective on shares of AT&T from $26.00 to $28.50 and gave the company a “sector outperform” rating in a research note on Monday, March 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, AT&T currently has an average rating of “Moderate Buy” and a consensus target price of $26.79.

AT&T Trading Up 0.9 %

Shares of NYSE T opened at $27.04 on Friday. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $27.97. The company has a market cap of $194.06 billion, a price-to-earnings ratio of 18.14, a price-to-earnings-growth ratio of 3.00 and a beta of 0.56. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The stock’s 50 day simple moving average is $25.13 and its 200 day simple moving average is $23.28.

AT&T (NYSE:T) last released its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. Equities research analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Profile

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.