AT&T Inc. (NYSE:T) Stock Position Lessened by Summit X LLC

Summit X LLC decreased its holdings in AT&T Inc. (NYSE:T) by 4.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,423 shares of the technology company’s stock after selling 463 shares during the quarter. Summit X LLC’s holdings in AT&T were worth $237,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Tradewinds Capital Management LLC boosted its stake 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 buying an additional 430 shares in the last quarter. Wealthstream Advisors Inc. boosted its stake in AT&T by 3.7% during the fourth quarter. Wealthstream Advisors Inc. now owns 12,383 shares of the technology company’s stock valued at $282,000 after buying an additional 444 shares in the last quarter. Northeast Investment Management boosted its stake in AT&T by 0.9% during the fourth quarter. Northeast Investment Management now owns 51,198 shares of the technology company’s stock valued at $1,166,000 after buying an additional 451 shares in the last quarter. Chesapeake Wealth Management boosted its stake in AT&T by 1.9% during the third quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock valued at $535,000 after buying an additional 460 shares in the last quarter. Finally, Luts & Greenleigh Group Inc. boosted its stake in AT&T by 2.8% during the fourth quarter. Luts & Greenleigh Group Inc. now owns 16,905 shares of the technology company’s stock valued at $385,000 after buying an additional 460 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Down 1.1 %

Shares of AT&T stock opened at $25.72 on Thursday. The firm has a market cap of $184.59 billion, a price-to-earnings ratio of 17.26, a P/E/G ratio of 3.00 and a beta of 0.56. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $27.97. The stock has a 50-day simple moving average of $24.52 and a 200-day simple moving average of $22.96.

AT&T (NYSE:T) last issued its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. On average, equities research analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on T. UBS Group upped their target price on AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Sanford C. Bernstein upped their target price on AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. The Goldman Sachs Group upped their target price on AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Royal Bank of Canada upped their target price on AT&T from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Finally, Morgan Stanley raised AT&T from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $19.00 to $28.00 in a report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $26.74.

AT&T 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.