Strive Asset Management LLC Makes New Investment in AT&T Inc. (NYSE:T)

Strive Asset Management LLC acquired a new position in AT&T Inc. (NYSE:T) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 34,074 shares of the technology company’s stock, valued at approximately $776,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Minot DeBlois Advisors LLC purchased a new position in shares of AT&T during the 4th quarter worth about $25,000. Marshall Investment Management LLC bought a new stake in AT&T during the 4th quarter valued at about $28,000. YANKCOM Partnership bought a new stake in AT&T during the 4th quarter valued at about $30,000. Tradewinds Capital Management LLC lifted its holdings in AT&T by 48.6% during the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock valued at $30,000 after buying an additional 430 shares in the last quarter. Finally, Endeavor Private Wealth Inc. bought a new stake in AT&T during the 4th quarter valued at about $34,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Performance

Shares of AT&T stock opened at $27.72 on Friday. The firm’s fifty day simple moving average is $27.18 and its 200-day simple moving average is $24.92. The stock has a market capitalization of $199.43 billion, a price-to-earnings ratio of 18.60, a PEG ratio of 3.00 and a beta of 0.42. AT&T Inc. has a 12 month low of $17.11 and a 12 month high of $29.03. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The firm had revenue of $30.63 billion during the quarter, compared to analysts’ expectations of $30.39 billion. AT&T had a net margin of 8.95% and a return on equity of 13.97%. The business’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the business earned $0.55 earnings per share. As a group, equities analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were given a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.00%. AT&T’s dividend payout ratio is presently 68.10%.

Analysts Set New Price Targets

T has been the subject of several recent research reports. Scotiabank restated an “outperform” rating on shares of AT&T in a report on Thursday, April 24th. Royal Bank of Canada upped their price objective on shares of AT&T from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. Oppenheimer increased their price target on shares of AT&T from $27.00 to $32.00 and gave the stock an “outperform” rating in a report on Tuesday, April 1st. Cowen restated a “hold” rating on shares of AT&T in a research report on Thursday, April 24th. Finally, Tigress Financial increased their target price on shares of AT&T from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.71.

AT&T Company 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.