AT&T Inc. (NYSE:T) is Summit X LLC’s 10th Largest Position

Summit X LLC decreased its holdings in AT&T Inc. (NYSE:T) by 16.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 128,701 shares of the technology company’s stock after selling 25,400 shares during the period. AT&T accounts for about 1.8% of Summit X LLC’s portfolio, making the stock its 10th biggest holding. Summit X LLC’s holdings in AT&T were worth $3,751,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in T. Lion Street Advisors LLC purchased a new position in AT&T during the first quarter valued at $27,000. Horan Securities Inc. purchased a new position in shares of AT&T during the first quarter valued at about $28,000. grace capital bought a new stake in shares of AT&T in the fourth quarter worth about $39,000. Lionsbridge Wealth Management LLC purchased a new stake in shares of AT&T in the fourth quarter worth about $39,000. Finally, Evolution Wealth Advisors LLC bought a new position in AT&T during the fourth quarter valued at approximately $41,000. Hedge funds and other institutional investors own 53.84% of the company’s stock.

T has been the subject of a number of research reports. Barclays reiterated a “hold” rating and set a $33.00 target price on shares of AT&T in a research report on Friday, April 17th. Raymond James cut shares of AT&T from an “outperform” rating to a “market perform” rating in a research report on Monday, March 16th. SunTrust Banks dropped their price target on AT&T from $36.00 to $30.00 and set a “hold” rating for the company in a research report on Friday, April 3rd. Oppenheimer assumed coverage on AT&T in a research report on Wednesday, April 22nd. They issued a “buy” rating and a $47.00 price target for the company. Finally, Argus reissued a “buy” rating on shares of AT&T in a research report on Friday, March 27th. Four investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $36.02.

Shares of T stock traded down $0.16 during trading hours on Tuesday, reaching $30.77. The company had a trading volume of 17,321,593 shares, compared to its average volume of 34,408,444. AT&T Inc. has a 12-month low of $26.08 and a 12-month high of $39.70. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.76 and a current ratio of 0.76. The company has a market capitalization of $222.07 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 1.70 and a beta of 0.72. The stock has a fifty day moving average of $29.97 and a 200-day moving average of $34.92.

AT&T (NYSE:T) last issued its earnings results on Wednesday, April 22nd. The technology company reported $0.84 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by ($0.01). AT&T had a net margin of 8.05% and a return on equity of 13.27%. The company had revenue of $42.78 billion during the quarter, compared to analysts’ expectations of $44.75 billion. During the same quarter in the previous year, the company earned $0.86 earnings per share. The firm’s quarterly revenue was down 4.6% compared to the same quarter last year. On average, analysts forecast that AT&T Inc. will post 3.29 EPS for the current year.

In related news, Director Stephen J. Luczo bought 36,000 shares of the firm’s stock in a transaction on Wednesday, April 22nd. The shares were bought at an average price of $29.38 per share, with a total value of $1,057,680.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Geoffrey Y. Yang bought 6,754 shares of the stock in a transaction on Friday, April 24th. The shares were bought at an average cost of $29.39 per share, with a total value of $198,500.06. Following the purchase, the director now owns 9,398 shares of the company’s stock, valued at $276,207.22. The disclosure for this purchase can be found here. 0.07% of the stock is currently owned by insiders.

AT&T Company Profile

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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Institutional Ownership by Quarter for AT&T (NYSE:T)

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