Summit Wealth & Retirement Planning Inc. Decreases Stock Position in AT&T Inc. (NYSE:T)

Summit Wealth & Retirement Planning Inc. decreased its stake in shares of AT&T Inc. (NYSE:T) by 9.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,629 shares of the technology company’s stock after selling 3,035 shares during the quarter. Summit Wealth & Retirement Planning Inc.’s holdings in AT&T were worth $881,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. TAP Consulting LLC grew its position in AT&T by 4.6% in the fourth quarter. TAP Consulting LLC now owns 8,008 shares of the technology company’s stock worth $230,000 after acquiring an additional 354 shares in the last quarter. Hohimer Wealth Management LLC boosted its holdings in AT&T by 0.3% in the fourth quarter. Hohimer Wealth Management LLC now owns 150,118 shares of the technology company’s stock worth $4,317,000 after purchasing an additional 378 shares in the last quarter. Pure Financial Advisors Inc. increased its position in AT&T by 3.5% during the fourth quarter. Pure Financial Advisors Inc. now owns 11,273 shares of the technology company’s stock worth $324,000 after buying an additional 379 shares during the last quarter. Shine Investment Advisory Services Inc. raised its holdings in AT&T by 13.2% during the third quarter. Shine Investment Advisory Services Inc. now owns 3,278 shares of the technology company’s stock valued at $93,000 after buying an additional 382 shares in the last quarter. Finally, Evermay Wealth Management LLC lifted its position in shares of AT&T by 2.3% in the third quarter. Evermay Wealth Management LLC now owns 17,144 shares of the technology company’s stock worth $489,000 after buying an additional 386 shares during the last quarter. 51.17% of the stock is currently owned by institutional investors.

AT&T stock traded down $0.15 during mid-day trading on Tuesday, hitting $29.17. 1,038,334 shares of the company were exchanged, compared to its average volume of 42,973,785. The company has a market capitalization of $207.87 billion, a PE ratio of 19.29, a price-to-earnings-growth ratio of 3.04 and a beta of 0.70. The business has a fifty day moving average of $28.98 and a 200 day moving average of $28.89. AT&T Inc. has a 1-year low of $26.08 and a 1-year high of $38.51. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.78.

AT&T (NYSE:T) last issued its quarterly earnings data on Tuesday, January 26th. The technology company reported $0.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.02. AT&T had a net margin of 6.42% and a return on equity of 12.27%. The firm had revenue of $45.70 billion for the quarter, compared to analysts’ expectations of $44.58 billion. During the same period in the prior year, the firm earned $0.89 earnings per share. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. Research analysts expect that AT&T Inc. will post 3.17 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, February 1st. Shareholders of record on Monday, January 11th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 7.13%. The ex-dividend date of this dividend was Friday, January 8th. AT&T’s dividend payout ratio is presently 58.26%.

T has been the topic of several recent analyst reports. Royal Bank of Canada dropped their target price on shares of AT&T from $32.00 to $30.00 in a report on Monday, October 26th. National Bank Financial upgraded AT&T to an “outperform” rating and lifted their price objective for the stock from $25.00 to $27.00 in a research note on Monday, November 9th. Raymond James upgraded AT&T from a “market perform” rating to an “outperform” rating and set a $32.00 target price for the company in a research note on Monday, January 4th. Deutsche Bank Aktiengesellschaft dropped their price target on AT&T from $36.00 to $31.00 in a research report on Monday, February 8th. Finally, Wells Fargo & Company reissued an “underweight” rating and issued a $25.00 price objective on shares of AT&T in a research report on Monday, November 16th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $32.12.

AT&T 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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