Drive Wealth Management LLC Grows Position in AT&T Inc. (NYSE:T)

Drive Wealth Management LLC grew its position in AT&T Inc. (NYSE:T) by 24.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,414 shares of the technology company’s stock after purchasing an additional 4,594 shares during the period. Drive Wealth Management LLC’s holdings in AT&T were worth $533,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new stake in AT&T during the third quarter worth about $25,000. Ritter Daniher Financial Advisory LLC DE increased its stake in shares of AT&T by 169.2% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after purchasing an additional 841 shares during the last quarter. Endeavor Private Wealth Inc. purchased a new stake in shares of AT&T during the 4th quarter worth approximately $34,000. Reston Wealth Management LLC purchased a new stake in AT&T in the third quarter worth $35,000. Finally, Safe Harbor Fiduciary LLC purchased a new stake in AT&T in the third quarter worth $35,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. UBS Group lifted their price objective on AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Royal Bank of Canada upgraded shares of AT&T from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $22.00 to $26.00 in a research note on Monday, January 6th. Sanford C. Bernstein initiated coverage on shares of AT&T in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price objective for the company. Oppenheimer initiated coverage on shares of AT&T in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price objective for the company. Finally, Evercore ISI lifted their price target on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $25.83.

AT&T Stock Up 0.7 %

Shares of NYSE T opened at $22.69 on Monday. The stock has a market capitalization of $162.77 billion, a P/E ratio of 18.44, a PEG ratio of 3.50 and a beta of 0.59. AT&T Inc. has a one year low of $15.94 and a one year high of $24.03. The firm’s 50 day simple moving average is $22.80 and its two-hundred day simple moving average is $21.46. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s payout ratio is presently 90.24%.

AT&T Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.