Legacy Wealth Management Inc Buys 4,010 Shares of AT&T Inc. (NYSE:T)

by · The Cerbat Gem

Legacy Wealth Management Inc boosted its stake in shares of AT&T Inc. (NYSE:T – Free Report) by 4.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 93,368 shares of the technology company’s stock after purchasing an additional 4,010 shares during the period. AT&T comprises approximately 0.1% of Legacy Wealth Management Inc’s holdings, making the stock its 18th largest position. Legacy Wealth Management Inc’s holdings in AT&T were worth $2,054,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in T. Hayek Kallen Investment Management increased its position in shares of AT&T by 0.8% during the third quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company’s stock valued at $1,326,000 after acquiring an additional 500 shares during the last quarter. Lake Street Advisors Group LLC boosted its stake in shares of AT&T by 0.7% in the third quarter. Lake Street Advisors Group LLC now owns 73,562 shares of the technology company’s stock valued at $1,618,000 after purchasing an additional 513 shares during the period. Octavia Wealth Advisors LLC boosted its stake in shares of AT&T by 2.1% in the second quarter. Octavia Wealth Advisors LLC now owns 25,313 shares of the technology company’s stock valued at $484,000 after purchasing an additional 519 shares during the period. Carolinas Wealth Consulting LLC boosted its stake in shares of AT&T by 2.3% in the second quarter. Carolinas Wealth Consulting LLC now owns 23,650 shares of the technology company’s stock valued at $452,000 after purchasing an additional 521 shares during the period. Finally, WealthCare Investment Partners LLC lifted its stake in AT&T by 2.2% in the second quarter. WealthCare Investment Partners LLC now owns 24,138 shares of the technology company’s stock worth $461,000 after acquiring an additional 525 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on T. Royal Bank of Canada reiterated a “sector perform” rating and issued a $22.00 price target on shares of AT&T in a research note on Thursday, October 24th. Wells Fargo & Company cut their price objective on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Oppenheimer lifted their target price on shares of AT&T from $23.00 to $24.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. lifted their target price on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Finally, Tigress Financial boosted their price objective on shares of AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, September 27th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, AT&T currently has an average rating of “Moderate Buy” and a consensus target price of $23.40.

View Our Latest Report on T

AT&T Price Performance

AT&T stock opened at $22.03 on Tuesday. AT&T Inc. has a 52 week low of $14.91 and a 52 week high of $22.58. 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 firm’s 50-day simple moving average is $21.26 and its 200 day simple moving average is $19.19. The firm has a market capitalization of $157.96 billion, a PE ratio of 17.99, a P/E/G ratio of 3.74 and a beta of 0.60.

AT&T (NYSE:T – Get Free Report) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The company had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 EPS. On average, equities research analysts predict that AT&T Inc. will post 2.21 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.04%. AT&T’s dividend payout ratio (DPR) is 90.24%.

About AT&T

(Free Report)

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.

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