Summitry LLC Purchases 8,425 Shares of AT&T Inc. (NYSE:T)

Summitry LLC boosted its position in AT&T Inc. (NYSE:T) by 3.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 242,471 shares of the technology company’s stock after purchasing an additional 8,425 shares during the quarter. Summitry LLC’s holdings in AT&T were worth $5,521,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in T. Legacy Investment Solutions LLC bought a new stake in shares of AT&T in the 3rd quarter worth approximately $25,000. Marshall Investment Management LLC bought a new stake in AT&T in the fourth quarter worth $28,000. YANKCOM Partnership bought a new stake in AT&T in the fourth quarter worth $30,000. Tradewinds Capital Management LLC increased its holdings in shares of 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 acquiring an additional 430 shares in the last quarter. Finally, Endeavor Private Wealth Inc. bought a new position in shares of AT&T during the fourth quarter valued at $34,000. Institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

Shares of NYSE:T opened at $27.30 on Wednesday. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $195.96 billion, a PE ratio of 18.32, a price-to-earnings-growth ratio of 3.00 and a beta of 0.56. The firm’s 50 day moving average price is $25.35 and its 200-day moving average price is $23.40. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $27.97.

AT&T (NYSE:T) last issued its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share 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%. Equities research analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on T. Argus raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research report on Thursday, January 16th. BNP Paribas upgraded shares of AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price target on the stock in a report on Thursday, February 13th. The Goldman Sachs Group boosted their price objective 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. Citigroup increased their target price on AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Barclays boosted their price target on AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and an average price target of $26.79.

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.