31,144 AT&T Inc. $T Shares Acquired by Summit Global Investments

Summit Global Investments raised its position in AT&T Inc. (NYSE:T) by 101.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 61,951 shares of the technology company’s stock after purchasing an additional 31,144 shares during the period. Summit Global Investments’ holdings in AT&T were worth $1,512,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Orion Capital Management LLC acquired a new position in AT&T in the second quarter valued at approximately $26,000. Addison Advisors LLC purchased a new position in AT&T in the second quarter valued at approximately $27,000. Robinswood Financial LLC acquired a new stake in AT&T during the first quarter worth approximately $29,000. Matrix Trust Co raised its holdings in AT&T by 331.8% during the second quarter. Matrix Trust Co now owns 1,494 shares of the technology company’s stock worth $31,000 after purchasing an additional 1,148 shares in the last quarter. Finally, North Point Portfolio Managers Corp OH purchased a new stake in shares of AT&T during the 3rd quarter worth approximately $34,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on T. Sanford C. Bernstein cut shares of AT&T from an “outperform” rating to a “market perform” rating and set a $24.00 target price for the company. in a report on Tuesday, October 13th. The Goldman Sachs Group set a $27.00 price target on shares of AT&T in a research note on Wednesday, October 21st. Wolfe Research upgraded shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $29.00 price target on the stock in a research note on Thursday, July 23rd. Barclays reduced their price target on shares of AT&T from $24.00 to $21.00 and set an “equal weight” rating for the company in a research report on Thursday, October 22nd. Finally, Morgan Stanley decreased their price objective on shares of AT&T from $28.00 to $25.00 and set an “overweight” rating for the company in a research note on Thursday, October 22nd. Twelve research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and a consensus price target of $28.55.

Key AT&T News

Here are the key news stories impacting AT&T this week:

• Positive Sentiment: Fresh estimates indicate that building a nationwide wireless network would be expensive for SpaceX, reducing the near-term threat to established carriers such as AT&T. T-Mobile’s decision not to pursue an MVNO arrangement with SpaceX also suggests incumbents are not immediately embracing the proposed rival. T-Mobile, SpaceX and wireless competition article
• Positive Sentiment: Televisa expects AT&T’s planned purchase to strengthen its competitive position. A stronger strategic footprint could support AT&T’s long-term growth and operating leverage, although the transaction is expected to increase debt. Televisa expects AT&T purchase to strengthen position
• Neutral Sentiment: Wireless pioneer Ray Dolan suggested mobile internet could eventually become free if carriers monetize data collected from cell-tower sensing. The idea highlights a possible future revenue stream for AT&T, but it is speculative and unlikely to affect near-term earnings. Wireless carriers and free mobile internet article
• Negative Sentiment: AT&T’s dividend payments reportedly fell 46% while the company directed billions toward share repurchases. Buybacks can support per-share earnings and signal management confidence, but the reduced dividend is a drawback for income-focused investors and raises questions about whether capital returns are being shifted away from cash payouts. AT&T dividend payments and stock buybacks article

AT&T Stock Performance

Shares of T opened at $21.45 on Monday. The company has a current ratio of 0.87, a quick ratio of 0.82 and a debt-to-equity ratio of 1.22. The firm has a market cap of $144.50 billion, a PE ratio of 11.59, a price-to-earnings-growth ratio of 1.06 and a beta of 0.30. The company’s 50 day simple moving average is $24.36 and its 200-day simple moving average is $24.96. AT&T Inc. has a 12-month low of $19.89 and a 12-month high of $29.43.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, October 21st. The technology company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.60 by $0.05. The firm had revenue of $32.32 billion during the quarter, compared to the consensus estimate of $31.69 billion. AT&T had a net margin of 10.19% and a return on equity of 13.41%. AT&T’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.54 EPS. As a group, equities analysts predict that AT&T Inc. will post 2.39 EPS for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Monday, October 12th will be paid a dividend of $0.2775 per share. The ex-dividend date is Friday, October 9th. This represents a $1.11 annualized dividend and a dividend yield of 5.2%. AT&T’s dividend payout ratio is 60.00%.

About AT&T

AT&T Inc (NYSE: T) is a telecommunications company that provides wireless communications, broadband, and related connectivity services. Its offerings include mobile voice and data plans, internet access, fiber broadband, fixed wireless services, and business communications solutions.

The company serves consumers, businesses, government agencies, and other organizations primarily in the United States. AT&T’s business operations include wireless network services, wireline connectivity, fiber-optic internet, voice services, and networking solutions designed to connect locations, devices, and applications.

AT&T traces its history to the Bell System and has operated under its current corporate name since 2005, following the acquisition of AT&T Corp.