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

Legacy Wealth Management Inc cut its holdings in shares of AT&T Inc. (NYSE:T) by 77.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,325 shares of the technology company’s stock after selling 72,043 shares during the period. AT&T comprises about 0.0% of Legacy Wealth Management Inc’s investment portfolio, making the stock its 28th biggest holding. Legacy Wealth Management Inc’s holdings in AT&T were worth $486,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Geode Capital Management LLC increased its holdings in shares of AT&T by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock valued at $3,532,684,000 after acquiring an additional 3,630,972 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of AT&T by 41.4% during the third quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock worth $168,969,000 after purchasing an additional 2,326,904 shares during the period. National Pension Service lifted its position in shares of AT&T by 15.8% in the 3rd quarter. National Pension Service now owns 15,769,707 shares of the technology company’s stock worth $346,934,000 after buying an additional 2,152,016 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of AT&T by 2.7% in the 2nd quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock valued at $1,148,689,000 after buying an additional 1,569,374 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of AT&T by 112.9% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,916,698 shares of the technology company’s stock valued at $64,167,000 after buying an additional 1,546,679 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

T has been the topic of a number of research reports. UBS Group increased their price target on AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Sanford C. Bernstein assumed coverage on shares of AT&T in a report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price objective on the stock. Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Tigress Financial boosted their price objective on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Finally, Evercore ISI lifted their target price on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $25.83.

AT&T Trading Up 0.7 %

NYSE T opened at $22.69 on Friday. The firm’s 50 day moving average price is $22.80 and its two-hundred day moving average price is $21.44. The stock has a market cap of $162.77 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 3.50 and a beta of 0.59. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $24.03. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating 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 firm had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. During the same quarter in the prior year, the business earned $0.64 EPS. The company’s revenue for the quarter was down .5% compared to the same quarter last year. Equities analysts anticipate that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

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.