Summit Trail Advisors LLC reduced its holdings in shares of AT&T Inc. (NYSE:T) by 35.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,533 shares of the technology company’s stock after selling 7,328 shares during the quarter. Summit Trail Advisors LLC’s holdings in AT&T were worth $386,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of T. Connor Clark & Lunn Investment Management Ltd. raised its holdings in AT&T by 63.1% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 29,716 shares of the technology company’s stock valued at $848,000 after acquiring an additional 11,500 shares in the last quarter. Godshalk Welsh Capital Management Inc. raised its holdings in AT&T by 7.3% in the 4th quarter. Godshalk Welsh Capital Management Inc. now owns 30,937 shares of the technology company’s stock valued at $883,000 after acquiring an additional 2,100 shares in the last quarter. Advisory Resource Group acquired a new position in AT&T in the 4th quarter valued at $290,000. Sound View Wealth Advisors LLC acquired a new position in AT&T in the 4th quarter valued at $3,151,000. Finally, Vickerman & Driscoll Financial Advisors Inc. raised its holdings in AT&T by 10.6% in the 4th quarter. Vickerman & Driscoll Financial Advisors Inc. now owns 50,713 shares of the technology company’s stock valued at $1,447,000 after acquiring an additional 4,870 shares in the last quarter. Institutional investors own 53.02% of the company’s stock.
Shares of T opened at $32.11 on Wednesday. AT&T Inc. has a 12-month low of $26.80 and a 12-month high of $34.53. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $237.12 billion, a price-to-earnings ratio of 9.12, a PEG ratio of 2.02 and a beta of 0.55.
Several equities analysts have weighed in on T shares. Raymond James raised AT&T from a “market perform” rating to an “outperform” rating and set a $34.00 price objective for the company in a report on Friday, March 15th. They noted that the move was a valuation call. ValuEngine cut AT&T from a “sell” rating to a “strong sell” rating in a report on Tuesday, March 5th. Finally, Desjardins reissued an “average” rating and set a $56.50 price target on shares of AT&T in a report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $36.60.
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AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.
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