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

Thrive Wealth Management LLC lessened its stake in shares of AT&T Inc. (NYSE:T) by 2.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 35,661 shares of the technology company’s stock after selling 964 shares during the period. Thrive Wealth Management LLC’s holdings in AT&T were worth $1,008,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of AT&T in the 4th quarter valued at approximately $1,858,418,000. GQG Partners LLC raised its stake in AT&T by 37.3% during the 4th quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock valued at $2,203,667,000 after purchasing an additional 26,280,866 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of AT&T by 31.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company’s stock valued at $1,216,665,000 after purchasing an additional 12,881,578 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of AT&T by 16.3% in the fourth quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company’s stock valued at $1,779,438,000 after purchasing an additional 10,945,679 shares in the last quarter. Finally, Assetmark Inc. boosted its position in shares of AT&T by 4,986.1% in the fourth 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. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Performance

Shares of T opened at $27.41 on Thursday. The company has a market capitalization of $197.23 billion, a PE ratio of 18.40, a price-to-earnings-growth ratio of 3.00 and a beta of 0.41. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. AT&T Inc. has a one year low of $17.42 and a one year high of $29.03. The company’s fifty day moving average price is $27.34 and its 200 day moving average price is $25.38.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). AT&T had a return on equity of 13.97% and a net margin of 8.95%. The business had revenue of $30.63 billion during the quarter, compared to the consensus estimate of $30.39 billion. During the same quarter in the previous year, the firm posted $0.55 earnings per share. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. As a group, analysts expect that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date was Thursday, April 10th. AT&T’s dividend payout ratio (DPR) is presently 68.10%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on T shares. Wall Street Zen raised AT&T from a “hold” rating to a “buy” rating in a research report on Friday, April 25th. Citigroup reissued a “buy” rating on shares of AT&T in a research report on Monday, April 7th. Wells Fargo & Company raised their price target on shares of AT&T from $27.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, April 24th. Royal Bank of Canada upped their price objective on shares of AT&T from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Finally, Tigress Financial lifted their target price on shares of AT&T from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and a consensus target price of $28.71.

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.