My Legacy Advisors LLC Increases Position in AT&T Inc. (NYSE:T)

My Legacy Advisors LLC raised its position in AT&T Inc. (NYSE:T) by 7.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,064 shares of the technology company’s stock after purchasing an additional 3,265 shares during the quarter. My Legacy Advisors LLC’s holdings in AT&T were worth $1,388,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Consolidated Planning Corp increased its position in shares of AT&T by 7.4% during the fourth quarter. Consolidated Planning Corp now owns 320,089 shares of the technology company’s stock worth $7,288,000 after acquiring an additional 21,927 shares during the period. Keystone Financial Group increased its position in shares of AT&T by 196.3% during the fourth quarter. Keystone Financial Group now owns 216,980 shares of the technology company’s stock worth $5,322,000 after acquiring an additional 143,744 shares during the period. World Investment Advisors increased its holdings in AT&T by 36.4% in the fourth quarter. World Investment Advisors now owns 237,477 shares of the technology company’s stock valued at $5,407,000 after buying an additional 63,359 shares during the last quarter. DigitalBridge Group Inc. increased its holdings in AT&T by 14.6% in the fourth quarter. DigitalBridge Group Inc. now owns 2,865,814 shares of the technology company’s stock valued at $65,255,000 after buying an additional 365,776 shares during the last quarter. Finally, Fortress Financial Solutions LLC purchased a new position in AT&T in the fourth quarter valued at $691,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on T. Oppenheimer increased their target price on AT&T from $27.00 to $32.00 and gave the company an “outperform” rating in a report on Tuesday, April 1st. Evercore ISI increased their target price on AT&T from $25.00 to $27.00 and gave the company an “in-line” rating in a report on Thursday, April 24th. BNP Paribas raised AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 target price on the stock in a report on Thursday, February 13th. Wall Street Zen raised AT&T from a “hold” rating to a “buy” rating in a report on Friday, April 25th. Finally, Citigroup reissued a “buy” rating on shares of AT&T in a report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and an average target price of $28.71.

AT&T Stock Performance

NYSE T opened at $28.42 on Wednesday. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. AT&T Inc. has a 52-week low of $17.42 and a 52-week high of $29.03. The business’s 50-day moving average price is $27.31 and its 200 day moving average price is $25.54. The firm has a market cap of $204.46 billion, a P/E ratio of 19.07, a P/E/G ratio of 3.00 and a beta of 0.41.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (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 company had revenue of $30.63 billion for the quarter, compared to analysts’ expectations of $30.39 billion. During the same period in the prior year, the business earned $0.55 EPS. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. On average, equities research analysts expect that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date of this dividend was Thursday, April 10th. AT&T’s dividend payout ratio is currently 68.10%.

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.