DRW Securities LLC Sells 45,318 Shares of AT&T Inc. (NYSE:T)

DRW Securities LLC cut its holdings in AT&T Inc. (NYSE:T) by 71.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,071 shares of the technology company’s stock after selling 45,318 shares during the quarter. DRW Securities LLC’s holdings in AT&T were worth $409,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in AT&T during the 4th quarter worth about $1,858,418,000. GQG Partners LLC boosted its position in AT&T by 37.3% in 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. Assetmark Inc. increased its holdings in AT&T by 4,986.1% in the 4th quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company’s stock worth $225,741,000 after buying an additional 9,719,036 shares during the period. Invesco Ltd. raised its position in AT&T by 18.2% during the 4th quarter. Invesco Ltd. now owns 47,651,898 shares of the technology company’s stock worth $1,085,034,000 after buying an additional 7,347,354 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of AT&T by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company’s stock valued at $14,637,914,000 after acquiring an additional 6,220,442 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

Shares of AT&T stock opened at $26.38 on Friday. The business’s fifty day simple moving average is $26.54 and its 200-day simple moving average is $23.94. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The firm has a market cap of $189.33 billion, a PE ratio of 17.70, a price-to-earnings-growth ratio of 3.00 and a beta of 0.42. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $29.03.

AT&T (NYSE:T) last announced its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. Equities analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.21%. AT&T’s dividend payout ratio is currently 74.50%.

Analyst Ratings Changes

Several brokerages recently issued reports on T. Citigroup reissued a “buy” rating on shares of AT&T in a report on Monday. BNP Paribas raised AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price objective for the company in a report on Thursday, February 13th. DZ Bank raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a report on Wednesday, January 29th. Oppenheimer boosted their price target on AT&T from $27.00 to $32.00 and gave the company an “outperform” rating in a report on Tuesday, April 1st. Finally, Scotiabank raised their price objective on shares of AT&T from $28.50 to $29.00 and gave the stock a “sector outperform” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $27.24.

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.