Summit Global Investments Sells 44,129 Shares of AT&T Inc. $T

Summit Global Investments decreased its stake in AT&T Inc. (NYSE:T) by 84.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,322 shares of the technology company’s stock after selling 44,129 shares during the quarter. Summit Global Investments’ holdings in AT&T were worth $241,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Stone House Investment Management LLC acquired a new stake in shares of AT&T during the 1st quarter worth about $25,000. O Brien Wealth Partners LLC bought a new stake in AT&T during the second quarter worth about $26,000. Kennebec Savings Bank increased its holdings in shares of AT&T by 412.1% during the second quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock worth $28,000 after buying an additional 783 shares in the last quarter. Solstein Capital LLC raised its stake in shares of AT&T by 217.3% in the second quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock valued at $28,000 after acquiring an additional 652 shares during the last quarter. Finally, Curio Wealth LLC boosted its holdings in shares of AT&T by 26,100.0% in the 2nd quarter. Curio Wealth LLC now owns 1,048 shares of the technology company’s stock worth $30,000 after acquiring an additional 1,044 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Performance

AT&T stock opened at $25.86 on Thursday. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 1.01. AT&T Inc. has a 1 year low of $21.38 and a 1 year high of $29.79. The company has a market cap of $183.30 billion, a PE ratio of 8.39, a PEG ratio of 2.16 and a beta of 0.40. The company’s 50-day moving average is $26.15 and its two-hundred day moving average is $27.44.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 EPS for the quarter, hitting the consensus estimate of $0.54. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The company had revenue of $30.71 billion during the quarter, compared to analysts’ expectations of $30.85 billion. During the same quarter in the previous year, the company earned $0.60 EPS. AT&T’s revenue was up 1.7% on a year-over-year basis. Equities analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 10th were paid a dividend of $0.2775 per share. The ex-dividend date of this dividend was Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.3%. AT&T’s payout ratio is 36.04%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on T shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of AT&T in a report on Wednesday, October 8th. Cowen restated a “hold” rating on shares of AT&T in a research note on Thursday, October 23rd. KeyCorp raised AT&T from a “sector weight” rating to an “overweight” rating and set a $30.00 price target for the company in a report on Tuesday, November 11th. Wells Fargo & Company lowered their price objective on shares of AT&T from $31.00 to $29.00 and set an “overweight” rating for the company in a research report on Thursday, October 16th. Finally, Williams Trading set a $33.00 target price on shares of AT&T in a research report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $30.64.

About AT&T

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.