AT&T Inc. (NYSE:T) Holdings Decreased by Thrive Wealth Management LLC

Thrive Wealth Management LLC cut its position in shares of AT&T Inc. (NYSE:T) by 3.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 37,456 shares of the technology company’s stock after selling 1,283 shares during the quarter. Thrive Wealth Management LLC’s holdings in AT&T were worth $824,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in T. Frank Rimerman Advisors LLC bought a new position in shares of AT&T in the 4th quarter worth about $25,000. Pineridge Advisors LLC acquired a new stake in AT&T during the fourth quarter worth about $25,000. Strategic Financial Concepts LLC boosted its stake in AT&T by 227.6% in the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after acquiring an additional 91,578 shares during the period. Riggs Asset Managment Co. Inc. grew its holdings in shares of AT&T by 356.5% during the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after purchasing an additional 1,116 shares during the last quarter. Finally, American Capital Advisory LLC raised its position in shares of AT&T by 107.5% during the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after purchasing an additional 807 shares during the period. 57.10% of the stock is currently owned by institutional investors.

AT&T Price Performance

NYSE T traded down $0.14 on Friday, reaching $21.91. The company’s stock had a trading volume of 24,519,234 shares, compared to its average volume of 35,977,004. AT&T Inc. has a twelve month low of $14.12 and a twelve month high of $22.34. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. The firm’s 50 day moving average is $20.47 and its two-hundred day moving average is $18.66. The stock has a market cap of $157.10 billion, a PE ratio of 11.78, a PEG ratio of 3.75 and a beta of 0.59.

AT&T (NYSE:T) last issued its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.57. The firm had revenue of $29.80 billion during the quarter, compared to analysts’ expectations of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period last year, the firm posted $0.63 earnings per share. As a group, sell-side analysts predict that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.07%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on T. JPMorgan Chase & Co. upped their price objective on AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Daiwa America raised shares of AT&T to a “hold” rating in a report on Friday, July 26th. Oppenheimer lifted their price objective on shares of AT&T from $21.00 to $23.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Evercore ISI upped their target price on shares of AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a research report on Thursday, July 25th. Finally, Barclays boosted their price objective on AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and an average target price of $22.38.

AT&T Company Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.