AT&T Inc. (NYSE:T) Shares Sold by Thrive Wealth Management LLC

Thrive Wealth Management LLC cut its position in shares of AT&T Inc. (NYSE:T) by 2.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 36,625 shares of the technology company’s stock after selling 831 shares during the quarter. Thrive Wealth Management LLC’s holdings in AT&T were worth $834,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Legacy Investment Solutions LLC acquired a new stake in AT&T in the 3rd quarter valued at $25,000. Ritter Daniher Financial Advisory LLC DE boosted its position in shares of AT&T by 169.2% in the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after buying an additional 841 shares during the period. Safe Harbor Fiduciary LLC acquired a new stake in shares of AT&T in the third quarter valued at about $35,000. Reston Wealth Management LLC purchased a new stake in shares of AT&T during the 3rd quarter valued at about $35,000. Finally, Altshuler Shaham Ltd acquired a new position in AT&T during the 2nd quarter worth approximately $30,000. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Up 1.2 %

Shares of AT&T stock opened at $22.30 on Monday. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $24.03. The firm has a market capitalization of $159.97 billion, a PE ratio of 18.13, a price-to-earnings-growth ratio of 3.46 and a beta of 0.59. 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 stock’s fifty day moving average is $22.79 and its 200-day moving average is $21.33.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. During the same period last year, the firm posted $0.64 earnings per share. The firm’s quarterly revenue was down .5% compared to the same quarter last year. Equities analysts anticipate that AT&T Inc. will post 2.2 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.98%. AT&T’s dividend payout ratio is 90.24%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Oppenheimer began coverage on AT&T in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price target on the stock. Argus upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Thursday. New Street Research raised shares of AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. JPMorgan Chase & Co. raised their price objective on shares of AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, UBS Group upped their target price on shares of AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $25.83.

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.