Summit Global Investments Acquires New Holdings in AT&T Inc. (NYSE:T)

Summit Global Investments bought a new stake in AT&T Inc. (NYSE:T) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 149,723 shares of the technology company’s stock, valued at approximately $3,409,000.

Other large investors have also recently bought and sold shares of the company. Assetmark Inc. grew its holdings in AT&T by 4,986.1% during the fourth quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company’s stock worth $225,741,000 after acquiring an additional 9,719,036 shares during the period. Bank of New York Mellon Corp grew its stake in shares of AT&T by 7.1% in the 4th quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company’s stock worth $1,948,943,000 after purchasing an additional 5,649,277 shares during the last quarter. Amundi grew its stake in shares of AT&T by 19.8% in the 4th quarter. Amundi now owns 33,963,826 shares of the technology company’s stock worth $753,318,000 after purchasing an additional 5,614,168 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of AT&T by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock worth $3,532,684,000 after purchasing an additional 3,630,972 shares in the last quarter. Finally, ANTIPODES PARTNERS Ltd acquired a new stake in AT&T during the fourth quarter valued at approximately $65,288,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. DZ Bank raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Wednesday, January 29th. Royal Bank of Canada upped their price objective on shares of AT&T from $27.00 to $28.00 and gave the company an “outperform” rating in a research note on Wednesday. The Goldman Sachs Group raised their target price on shares of AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Oppenheimer started coverage on shares of AT&T in a report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price target on the stock. Finally, Sanford C. Bernstein raised their price objective on shares of AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.79.

AT&T Trading Up 0.9 %

NYSE:T opened at $27.04 on Friday. The company has a market capitalization of $194.06 billion, a P/E ratio of 18.14, a P/E/G ratio of 3.00 and a beta of 0.56. The stock’s 50 day moving average price is $25.13 and its 200 day moving average price is $23.28. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $27.97.

AT&T (NYSE:T) last announced its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. On average, research analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

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.