Summit Financial Wealth Advisors LLC Buys 27,913 Shares of AT&T Inc. (NYSE:T)

Summit Financial Wealth Advisors LLC boosted its holdings in AT&T Inc. (NYSE:TFree Report) by 11.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 281,766 shares of the technology company’s stock after purchasing an additional 27,913 shares during the quarter. AT&T makes up approximately 1.1% of Summit Financial Wealth Advisors LLC’s holdings, making the stock its 26th biggest position. Summit Financial Wealth Advisors LLC’s holdings in AT&T were worth $4,728,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Carmel Capital Partners LLC raised its holdings in AT&T by 16,250.0% during the 3rd quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock valued at $25,000 after buying an additional 1,625 shares during the period. Lipe & Dalton purchased a new stake in AT&T during the 3rd quarter valued at $30,000. Ramirez Asset Management Inc. purchased a new stake in AT&T during the 3rd quarter valued at $30,000. FWL Investment Management LLC purchased a new stake in AT&T during the 4th quarter valued at $31,000. Finally, Financial Freedom LLC purchased a new stake in AT&T in the fourth quarter worth $34,000. 57.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on T shares. StockNews.com upgraded AT&T from a “hold” rating to a “buy” rating in a research note on Wednesday. Wolfe Research upgraded AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research note on Tuesday, March 5th. Oppenheimer raised AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a research report on Friday, January 19th. Deutsche Bank Aktiengesellschaft increased their price target on AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Finally, Citigroup increased their price target on AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $21.61.

View Our Latest Stock Report on AT&T

AT&T Price Performance

Shares of NYSE T opened at $17.60 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.71. The company has a market cap of $125.89 billion, a PE ratio of 8.98, a P/E/G ratio of 2.65 and a beta of 0.57. The business has a 50-day simple moving average of $17.15 and a two-hundred day simple moving average of $16.30. AT&T Inc. has a fifty-two week low of $13.43 and a fifty-two week high of $19.99.

AT&T (NYSE:TGet Free Report) last issued its quarterly earnings results on Wednesday, January 24th. The technology company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.01). The business had revenue of $32 billion during the quarter, compared to analyst estimates of $31.44 billion. AT&T had a return on equity of 15.39% and a net margin of 11.76%. AT&T’s revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.61 EPS. As a group, equities analysts expect that AT&T Inc. will post 2.21 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 6.31%. AT&T’s payout ratio is 56.63%.

About AT&T

(Free Report)

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.

Further Reading

Want to see what other hedge funds are holding T? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AT&T Inc. (NYSE:TFree Report).

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

Receive News & Ratings for AT&T Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AT&T and related companies with MarketBeat.com's FREE daily email newsletter.