Strive Asset Management LLC Buys New Position in AT&T Inc. (NYSE:T)

Strive Asset Management LLC purchased a new stake in AT&T Inc. (NYSE:T - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 34,074 shares of the technology company's stock, valued at approximately $776,000.

A number of other institutional investors also recently modified their holdings of T. Norges Bank bought a new stake in shares of AT&T in the 4th quarter worth approximately $1,858,418,000. GQG Partners LLC grew its stake in shares of AT&T by 37.3% during the fourth quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company's stock valued at $2,203,667,000 after buying an additional 26,280,866 shares during the last quarter. Northern Trust Corp boosted its position in AT&T by 16.3% during the 4th quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company's stock valued at $1,779,438,000 after acquiring an additional 10,945,679 shares in the last quarter. Assetmark Inc. lifted its position in AT&T by 4,986.1% during the 4th quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company's stock worth $225,741,000 after acquiring an additional 9,719,036 shares during the period. Finally, Invesco Ltd. increased its stake in shares of AT&T by 18.2% in the 4th quarter. Invesco Ltd. now owns 47,651,898 shares of the technology company's stock valued at $1,085,034,000 after purchasing an additional 7,347,354 shares in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on T shares. Royal Bank of Canada upped their price target on AT&T from $28.00 to $30.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. DZ Bank upgraded shares of AT&T from a "hold" rating to a "buy" rating and set a $27.00 price target for the company in a research report on Wednesday, January 29th. Morgan Stanley reaffirmed an "overweight" rating and issued a $31.00 target price (up from $30.00) on shares of AT&T in a research note on Thursday, April 24th. StockNews.com upgraded shares of AT&T from a "hold" rating to a "buy" rating in a report on Friday, April 25th. Finally, Sanford C. Bernstein upped their target price on shares of AT&T from $28.00 to $29.00 and gave the company an "outperform" rating in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $28.71.

AT&T Price Performance

Shares of NYSE T traded up $0.29 during trading on Monday, hitting $28.01. The company had a trading volume of 30,986,106 shares, compared to its average volume of 36,804,584. The stock has a fifty day simple moving average of $27.23 and a two-hundred day simple moving average of $24.98. AT&T Inc. has a fifty-two week low of $17.11 and a fifty-two week high of $29.03. The firm has a market capitalization of $201.55 billion, a price-to-earnings ratio of 18.80, a price-to-earnings-growth ratio of 3.00 and a beta of 0.42. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). AT&T had a return on equity of 13.97% and a net margin of 8.95%. The company had revenue of $30.63 billion during the quarter, compared to analyst estimates of $30.39 billion. During the same quarter in the prior year, the company posted $0.55 earnings per share. The business's revenue was up 2.0% compared to the same quarter last year. On average, research analysts expect 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. Shareholders of record on Thursday, April 10th were paid a dividend of $0.2775 per share. The ex-dividend date was Thursday, April 10th. This represents a $1.11 annualized dividend and a yield of 3.96%. AT&T's dividend payout ratio is currently 68.10%.

About AT&T

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.