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

Drive Wealth Management LLC boosted its holdings in shares of AT&T Inc. (NYSE:T) by 24.4% during the fourth quarter, Holdings Channel reports. The firm owned 23,414 shares of the technology company’s stock after acquiring an additional 4,594 shares during the quarter. Drive Wealth Management LLC’s holdings in AT&T were worth $533,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Legacy Investment Solutions LLC bought a new stake in AT&T during the 3rd quarter valued at approximately $25,000. Ritter Daniher Financial Advisory LLC DE boosted its position in shares of AT&T by 169.2% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after purchasing an additional 841 shares in the last quarter. Endeavor Private Wealth Inc. bought a new position in AT&T in the fourth quarter worth $34,000. Reston Wealth Management LLC purchased a new position in AT&T during the third quarter valued at $35,000. Finally, Safe Harbor Fiduciary LLC bought a new stake in shares of AT&T during the 3rd quarter valued at $35,000. Institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

NYSE T opened at $22.69 on Monday. The company has a 50-day moving average price of $22.80 and a 200-day moving average price of $21.46. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $24.03. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The firm 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 Dividend Announcement

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

Wall Street Analysts Forecast Growth

T has been the subject of a number of recent research reports. Morgan Stanley raised shares of AT&T from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $19.00 to $28.00 in a research report on Monday, December 16th. UBS Group boosted their price target on AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Royal Bank of Canada raised AT&T from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $22.00 to $26.00 in a research report on Monday, January 6th. Oppenheimer assumed coverage on AT&T in a report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 target price on the stock. Finally, Barclays raised their price target on AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $25.83.

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.