Summit Financial LLC Acquires 101,206 Shares of AT&T Inc. (NYSE:T)

Summit Financial LLC increased its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 69.6% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 246,712 shares of the technology company's stock after acquiring an additional 101,206 shares during the period. Summit Financial LLC's holdings in AT&T were worth $5,618,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. 1620 Investment Advisors Inc. grew its position in shares of AT&T by 1.6% during the fourth quarter. 1620 Investment Advisors Inc. now owns 26,161 shares of the technology company's stock worth $596,000 after buying an additional 421 shares in the last quarter. Tradewinds Capital Management LLC grew its position in shares of AT&T by 48.6% in the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company's stock worth $30,000 after acquiring an additional 430 shares in the last quarter. Whittier Trust Co. raised its position in shares of AT&T by 0.7% during the 4th quarter. Whittier Trust Co. now owns 59,394 shares of the technology company's stock valued at $1,352,000 after acquiring an additional 433 shares in the last quarter. Wealthstream Advisors Inc. lifted 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 worth $282,000 after purchasing an additional 444 shares during the last quarter. Finally, Northeast Investment Management lifted 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 worth $1,166,000 after purchasing an additional 451 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company's stock.

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Analyst Upgrades and Downgrades

A number of brokerages have weighed in on T. The Goldman Sachs Group increased 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. DZ Bank upgraded AT&T from a "hold" rating to a "buy" rating and set a $27.00 price objective for the company in a research report on Wednesday, January 29th. Citigroup raised their target price on AT&T from $28.00 to $32.00 and gave the company a "buy" rating in a research note on Monday. Scotiabank increased their price objective on shares of AT&T from $26.00 to $28.50 and gave the stock a "sector outperform" rating in a report on Monday, March 3rd. Finally, Morgan Stanley upgraded shares of AT&T from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $19.00 to $28.00 in a research report on Monday, December 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $27.21.

AT&T Stock Up 0.7 %

Shares of NYSE:T traded up $0.21 during trading on Tuesday, reaching $28.49. 43,976,615 shares of the company traded hands, compared to its average volume of 36,292,622. The firm has a fifty day simple moving average of $25.82 and a 200 day simple moving average of $23.59. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $28.61. The firm has a market cap of $204.47 billion, a P/E ratio of 19.12, a price-to-earnings-growth ratio of 3.00 and a beta of 0.56.

AT&T (NYSE:T - Get Free Report) last posted its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping 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%. Analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be paid a $0.2775 dividend. The ex-dividend date is Thursday, April 10th. This represents a $1.11 dividend on an annualized basis and a yield of 3.90%. AT&T's payout ratio is presently 74.50%.

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.