AT&T Inc. (NYSE:T) Shares Purchased by Summit Securities Group LLC

Key Points

• Summit Securities Group LLC increased its holdings in AT&T by 65.0%, owning 77,569 shares worth approximately $2.19 million, making it the fund's 19th largest position.
• AT&T reported earnings of $0.54 per share, beating analyst expectations, with generated revenue of $30.85 billion, a 3.4% increase year-over-year.
• The company declared a quarterly dividend of $0.2775 per share, resulting in an annualized dividend of $1.11 and a yield of 3.8%.

Summit Securities Group LLC increased its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 65.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 77,569 shares of the technology company's stock after acquiring an additional 30,569 shares during the quarter. AT&T comprises 0.3% of Summit Securities Group LLC's investment portfolio, making the stock its 19th biggest position. Summit Securities Group LLC's holdings in AT&T were worth $2,194,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of T. AllSquare Wealth Management LLC boosted its holdings in AT&T by 7.1% in the 1st quarter. AllSquare Wealth Management LLC now owns 5,704 shares of the technology company's stock valued at $161,000 after purchasing an additional 378 shares during the last quarter. Next Level Private LLC boosted its holdings in AT&T by 0.3% in the 1st quarter. Next Level Private LLC now owns 113,379 shares of the technology company's stock valued at $3,206,000 after purchasing an additional 379 shares during the last quarter. Carolinas Wealth Consulting LLC boosted its holdings in AT&T by 1.6% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company's stock valued at $550,000 after purchasing an additional 384 shares during the last quarter. Kozak & Associates Inc. boosted its holdings in AT&T by 9.4% in the 1st quarter. Kozak & Associates Inc. now owns 4,617 shares of the technology company's stock valued at $126,000 after purchasing an additional 398 shares during the last quarter. Finally, Silver Oak Securities Incorporated boosted its holdings in AT&T by 0.3% in the 1st quarter. Silver Oak Securities Incorporated now owns 114,324 shares of the technology company's stock valued at $3,222,000 after purchasing an additional 398 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Citigroup restated a "buy" rating on shares of AT&T in a report on Tuesday, June 17th. Royal Bank Of Canada upped their price objective on shares of AT&T from $28.00 to $30.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Barclays upped their price objective on shares of AT&T from $27.00 to $30.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Williams Trading set a $30.00 price objective on shares of AT&T in a report on Thursday, April 24th. Finally, Morgan Stanley upped their target price on shares of AT&T from $31.00 to $32.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $30.21.

AT&T Stock Up 0.5%

Shares of NYSE T opened at $28.89 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. AT&T Inc. has a 52 week low of $19.08 and a 52 week high of $29.19. The firm has a 50-day moving average price of $27.90 and a 200 day moving average price of $27.21. The stock has a market capitalization of $206.57 billion, a price-to-earnings ratio of 16.41, a price-to-earnings-growth ratio of 3.57 and a beta of 0.42.

AT&T (NYSE:T - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The firm had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. During the same period last year, the firm posted $0.51 EPS. The firm's revenue for the quarter was up 3.4% on a year-over-year basis. Equities research analysts anticipate that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were issued a dividend of $0.2775 per share. The ex-dividend date was Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.8%. AT&T's payout ratio is 63.07%.

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.

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