Sierra Summit Advisors LLC Has $258,000 Position in AT&T Inc. (NYSE:T)

Sierra Summit Advisors LLC lifted its holdings in AT&T Inc. (NYSE:T) by 32.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,521 shares of the technology company’s stock after purchasing an additional 3,316 shares during the period. Sierra Summit Advisors LLC’s holdings in AT&T were worth $258,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in T. Frank Rimerman Advisors LLC acquired a new stake in AT&T in the 4th quarter worth $25,000. Pineridge Advisors LLC bought a new stake in shares of AT&T in the fourth quarter valued at about $25,000. Strategic Financial Concepts LLC grew its position in AT&T by 227.6% during the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after buying an additional 91,578 shares in the last quarter. Riggs Asset Managment Co. Inc. increased its stake in AT&T by 356.5% during the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after acquiring an additional 1,116 shares during the period. Finally, American Capital Advisory LLC raised its holdings in AT&T by 107.5% in the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after acquiring an additional 807 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Up 2.9 %

Shares of T opened at $22.28 on Tuesday. The company has a market capitalization of $159.72 billion, a P/E ratio of 11.98, a PEG ratio of 3.68 and a beta of 0.59. AT&T Inc. has a one year low of $14.12 and a one year high of $22.34. The business’s 50 day simple moving average is $19.66 and its 200-day simple moving average is $18.22. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.57. The firm had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The business’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 EPS. As a group, sell-side analysts predict that AT&T Inc. will post 2.2 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date was Wednesday, July 10th. AT&T’s dividend payout ratio is currently 59.68%.

Analysts Set New Price Targets

T has been the topic of several recent research reports. TD Cowen lifted their price objective on AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Evercore ISI raised their target price on AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. boosted their price target on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Scotiabank cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, Oppenheimer lifted their target price on shares of AT&T from $21.00 to $23.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $22.31.

About AT&T

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.