Summit Global Investments Sells 97,272 Shares of AT&T Inc. (NYSE:T)

Summit Global Investments lowered its position in AT&T Inc. (NYSE:T - Free Report) by 65.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 52,451 shares of the technology company's stock after selling 97,272 shares during the period. Summit Global Investments' holdings in AT&T were worth $1,483,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Carolinas Wealth Consulting LLC boosted its stake in shares of AT&T by 1.6% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company's stock worth $550,000 after buying an additional 384 shares during the last quarter. Buska Wealth Management LLC lifted its position in AT&T by 3.2% during the fourth quarter. Buska Wealth Management LLC now owns 13,391 shares of the technology company's stock valued at $305,000 after purchasing an additional 412 shares in the last quarter. 1620 Investment Advisors Inc. grew its holdings in AT&T by 1.6% during the fourth quarter. 1620 Investment Advisors Inc. now owns 26,161 shares of the technology company's stock valued at $596,000 after purchasing an additional 421 shares during the period. Tradewinds Capital Management LLC grew its holdings in AT&T by 48.6% during the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company's stock valued at $30,000 after purchasing an additional 430 shares during the period. Finally, BNP Paribas grew its holdings in AT&T by 1.0% during the fourth quarter. BNP Paribas now owns 41,716 shares of the technology company's stock valued at $942,000 after purchasing an additional 430 shares during the period. Institutional investors own 57.10% of the company's stock.

AT&T Price Performance

Shares of NYSE T traded down $0.11 on Tuesday, hitting $27.82. The company's stock had a trading volume of 10,287,484 shares, compared to its average volume of 40,060,863. AT&T Inc. has a 12-month low of $17.42 and a 12-month high of $29.03. The company has a market capitalization of $200.18 billion, a price-to-earnings ratio of 18.67, a price-to-earnings-growth ratio of 3.00 and a beta of 0.41. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The stock has a 50 day moving average of $27.36 and a 200-day moving average of $25.35.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). The business had revenue of $30.63 billion during the quarter, compared to analyst estimates of $30.39 billion. AT&T had a return on equity of 13.97% and a net margin of 8.95%. AT&T's revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.55 EPS. As a group, research analysts predict that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date was Thursday, April 10th. AT&T's payout ratio is 68.10%.

Analyst Ratings Changes

Several research firms have issued reports on T. Evercore ISI boosted their price target on AT&T from $25.00 to $27.00 and gave the company an "in-line" rating in a report on Thursday, April 24th. Williams Trading set a $30.00 price target on AT&T in a report on Thursday, April 24th. BNP Paribas raised AT&T from a "neutral" rating to an "outperform" rating and set a $28.50 price target for the company in a report on Thursday, February 13th. Citigroup reissued a "buy" rating on shares of AT&T in a report on Monday, April 7th. Finally, Scotiabank reissued an "outperform" rating on shares of AT&T in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $28.71.

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.