AT&T Inc. $T Position Lowered by Summa Corp.

Summa Corp. decreased its stake in shares of AT&T Inc. (NYSE:T) by 23.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,600 shares of the technology company’s stock after selling 5,000 shares during the period. Summa Corp.’s holdings in AT&T were worth $480,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of AT&T by 1.3% during the first quarter. Vanguard Group Inc. now owns 651,044,650 shares of the technology company’s stock worth $18,411,543,000 after purchasing an additional 8,185,006 shares during the last quarter. Kingstone Capital Partners Texas LLC bought a new position in shares of AT&T during the second quarter worth about $5,266,758,000. GQG Partners LLC lifted its position in shares of AT&T by 17.7% during the first quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock worth $3,222,711,000 after purchasing an additional 17,177,874 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of AT&T by 3.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 55,216,190 shares of the technology company’s stock worth $1,561,514,000 after purchasing an additional 1,783,363 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in AT&T by 2.5% in the first quarter. Dimensional Fund Advisors LP now owns 53,339,376 shares of the technology company’s stock worth $1,508,411,000 after acquiring an additional 1,307,009 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

Shares of NYSE:T opened at $25.85 on Friday. The firm’s 50 day moving average is $28.45 and its two-hundred day moving average is $27.88. AT&T Inc. has a 52 week low of $21.05 and a 52 week high of $29.79. The firm has a market capitalization of $184.82 billion, a P/E ratio of 14.69, a PEG ratio of 2.10 and a beta of 0.42. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS 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 company had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. During the same quarter last year, the business earned $0.51 earnings per share. AT&T’s revenue was up 3.4% compared to the same quarter last year. Analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be paid a $0.2775 dividend. The ex-dividend date is Friday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.3%. AT&T’s dividend payout ratio (DPR) is presently 63.07%.

Analyst Ratings Changes

A number of equities analysts have issued reports on T shares. Sanford C. Bernstein raised their target price on shares of AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, September 4th. Wells Fargo & Company raised their target price on shares of AT&T from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Weiss Ratings reissued a “buy (b)” rating on shares of AT&T in a report on Wednesday. Scotiabank set a $30.25 target price on shares of AT&T and gave the stock a “sector perform” rating in a report on Monday, October 6th. Finally, The Goldman Sachs Group started coverage on shares of AT&T in a report on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.75.

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.