Thrive Wealth Management LLC Has $834,000 Stock Holdings in AT&T Inc. (NYSE:T)

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

Several other hedge funds also recently modified their holdings of the business. Legacy Investment Solutions LLC acquired a new position in shares of AT&T during the 3rd quarter valued at about $25,000. Ritter Daniher Financial Advisory LLC DE grew its holdings in AT&T by 169.2% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after purchasing an additional 841 shares during the last quarter. Altshuler Shaham Ltd bought a new position in shares of AT&T in the second quarter valued at approximately $30,000. Reston Wealth Management LLC acquired a new stake in shares of AT&T in the third quarter worth $35,000. Finally, Safe Harbor Fiduciary LLC bought a new stake in shares of AT&T during the 3rd quarter worth $35,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Price Performance

Shares of AT&T stock opened at $22.30 on Monday. The stock has a market capitalization of $159.97 billion, a price-to-earnings ratio of 18.13, a P/E/G ratio of 3.46 and a beta of 0.59. The firm’s 50-day moving average price is $22.79 and its two-hundred day moving average price is $21.33. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $24.03.

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

AT&T Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on T. UBS Group boosted their target price on shares of AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Barclays increased their target price on AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Morgan Stanley raised AT&T from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $19.00 to $28.00 in a research report on Monday, December 16th. Wells Fargo & Company dropped their target price on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Finally, The Goldman Sachs Group raised their price target on shares of AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock 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.