DRW Securities LLC Purchases 34,530 Shares of AT&T Inc. $T

Key Points

• DRW Securities LLC increased its stake in AT&T Inc. by 191.1% during the first quarter, owning a total of 52,601 shares valued at approximately $1.49 million.
• Research firms have varying ratings for AT&T stock, with Bank of America initiating coverage with a "buy" rating and a target price of $32.00, while HSBC downgraded it to "hold" with a $30.00 target.
• AT&T reported a quarterly earnings per share (EPS) of $0.54, exceeding expectations, and has declared a dividend with an annual yield of 3.8%.

DRW Securities LLC lifted its position in AT&T Inc. (NYSE:T - Free Report) by 191.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,601 shares of the technology company's stock after buying an additional 34,530 shares during the quarter. DRW Securities LLC's holdings in AT&T were worth $1,485,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of T. Brighton Jones LLC lifted its holdings in shares of AT&T by 26.5% in the fourth quarter. Brighton Jones LLC now owns 48,579 shares of the technology company's stock worth $1,106,000 after buying an additional 10,188 shares in the last quarter. Yoffe Investment Management LLC purchased a new stake in shares of AT&T in the fourth quarter worth about $213,000. 4WEALTH Advisors Inc. purchased a new stake in shares of AT&T in the fourth quarter worth about $252,000. AlTi Global Inc. lifted its holdings in shares of AT&T by 40.8% in the fourth quarter. AlTi Global Inc. now owns 15,389 shares of the technology company's stock worth $350,000 after buying an additional 4,459 shares in the last quarter. Finally, Advanced Portfolio Management LLC purchased a new stake in shares of AT&T in the fourth quarter worth about $341,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Trading Down 0.2%

Shares of T traded down $0.06 during mid-day trading on Wednesday, reaching $29.03. The company's stock had a trading volume of 27,234,975 shares, compared to its average volume of 36,846,438. The stock has a market cap of $207.54 billion, a PE ratio of 16.49, a P/E/G ratio of 3.62 and a beta of 0.44. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. AT&T Inc. has a 52 week low of $20.25 and a 52 week high of $29.65. The company's fifty day moving average price is $28.15 and its two-hundred day moving average price is $27.57.

AT&T (NYSE:T - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The firm had revenue of $30.85 billion for the quarter, compared to analysts' expectations of $30.44 billion. During the same quarter last year, the business earned $0.51 earnings per share. The business's revenue was up 3.4% on a year-over-year basis. On average, analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were issued a $0.2775 dividend. The ex-dividend date was Thursday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 3.8%. AT&T's dividend payout ratio (DPR) is currently 63.07%.

Wall Street Analysts Forecast Growth

T has been the topic of a number of recent analyst reports. UBS Group reissued a "buy" rating and issued a $31.00 price target (up from $30.00) on shares of AT&T in a report on Wednesday, June 18th. Morgan Stanley raised their target price on shares of AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Bank of America started coverage on shares of AT&T in a research note on Monday, July 7th. They issued a "buy" rating and a $32.00 target price on the stock. Hsbc Global Res downgraded shares of AT&T from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 24th. Finally, The Goldman Sachs Group began coverage on shares of AT&T in a research note on Tuesday. They issued a "buy" rating and a $32.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, AT&T has a consensus rating of "Moderate Buy" and an average price target of $30.40.

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.