Summitry LLC Increases Stock Holdings in AT&T Inc. (NYSE:T)

Summitry LLC boosted its position in shares of AT&T Inc. (NYSE:T) by 3.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 242,471 shares of the technology company’s stock after acquiring an additional 8,425 shares during the period. Summitry LLC’s holdings in AT&T were worth $5,521,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of T. Aire Advisors LLC raised its position in shares of AT&T by 124.1% in the fourth quarter. Aire Advisors LLC now owns 148,389 shares of the technology company’s stock worth $3,379,000 after buying an additional 82,186 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its holdings in shares of AT&T by 3.4% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 136,640 shares of the technology company’s stock valued at $3,111,000 after acquiring an additional 4,484 shares in the last quarter. PKS Advisory Services LLC bought a new stake in shares of AT&T during the 4th quarter valued at about $862,000. TIAA Trust National Association grew its holdings in shares of AT&T by 1.8% during the fourth quarter. TIAA Trust National Association now owns 229,986 shares of the technology company’s stock worth $5,237,000 after purchasing an additional 4,081 shares in the last quarter. Finally, FineMark National Bank & Trust increased its position in shares of AT&T by 1.7% in the fourth quarter. FineMark National Bank & Trust now owns 32,057 shares of the technology company’s stock worth $730,000 after purchasing an additional 549 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

AT&T stock opened at $27.30 on Wednesday. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $27.97. The firm has a market cap of $195.96 billion, a P/E ratio of 18.32, a P/E/G 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 firm has a 50-day moving average of $25.35 and a 200-day moving average of $23.40.

AT&T (NYSE:T) last issued its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. Sell-side analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

Analyst Ratings Changes

A number of research firms have commented on T. Morgan Stanley raised shares of AT&T from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $19.00 to $28.00 in a research note on Monday, December 16th. JPMorgan Chase & Co. upped their target price on shares of AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. DZ Bank upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research report on Wednesday, January 29th. Royal Bank of Canada upped their price objective on AT&T from $27.00 to $28.00 and gave the stock an “outperform” rating in a report on Wednesday, March 19th. Finally, Argus raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.79.

AT&T Company 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.