Summa Corp. Sells 400 Shares of AT&T Inc. (NYSE:T)

Summa Corp. decreased its stake in shares of AT&T Inc. (NYSE:T) by 1.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,600 shares of the technology company’s stock after selling 400 shares during the period. Summa Corp.’s holdings in AT&T were worth $611,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of AT&T by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company’s stock worth $14,637,914,000 after buying an additional 6,220,442 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of AT&T by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 163,761,301 shares of the technology company’s stock valued at $3,719,723,000 after acquiring an additional 2,640,644 shares in the last quarter. GQG Partners LLC increased its position in shares of AT&T by 37.3% during the fourth quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock valued at $2,203,667,000 after acquiring an additional 26,280,866 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in AT&T by 7.1% during the fourth quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company’s stock worth $1,948,943,000 after acquiring an additional 5,649,277 shares during the period. Finally, Norges Bank purchased a new position in AT&T in the fourth quarter worth $1,858,418,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on T shares. Scotiabank reissued an “outperform” rating on shares of AT&T in a research report on Thursday, April 24th. Oppenheimer upped their price objective on AT&T from $27.00 to $32.00 and gave the company an “outperform” rating in a research note on Tuesday, April 1st. Wells Fargo & Company raised their target price on AT&T from $27.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. Cowen restated a “hold” rating on shares of AT&T in a research note on Thursday, April 24th. Finally, Citigroup reaffirmed a “buy” rating on shares of AT&T in a research report on Monday, April 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.71.

AT&T Stock Performance

NYSE T opened at $27.65 on Wednesday. The company has a 50-day simple moving average of $27.47 and a two-hundred day simple moving average of $25.71. AT&T Inc. has a 12-month low of $17.86 and a 12-month high of $29.03. The firm has a market cap of $198.92 billion, a price-to-earnings ratio of 16.96, a PEG ratio of 3.89 and a beta of 0.41. The company has a quick ratio of 0.65, a current ratio of 0.70 and a debt-to-equity ratio of 0.98.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). AT&T had a net margin of 9.64% and a return on equity of 13.63%. The company had revenue of $30.63 billion for the quarter, compared to analysts’ expectations of $30.39 billion. During the same period last year, the company posted $0.55 EPS. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, equities analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date of this dividend was Thursday, April 10th. AT&T’s payout ratio is currently 68.10%.

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.