Legacy Wealth Management Inc Reduces Holdings in AT&T Inc. $T

Legacy Wealth Management Inc trimmed its position in shares of AT&T Inc. (NYSE:T) by 4.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,325 shares of the technology company’s stock after selling 924 shares during the quarter. AT&T makes up approximately 0.0% of Legacy Wealth Management Inc’s investment portfolio, making the stock its 24th largest position. Legacy Wealth Management Inc’s holdings in AT&T were worth $530,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Stone House Investment Management LLC purchased a new stake in AT&T in the 1st quarter valued at $25,000. O Brien Wealth Partners LLC purchased a new stake in AT&T in the 2nd quarter valued at $26,000. Hager Investment Management Services LLC grew its holdings in AT&T by 182.1% in the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock valued at $28,000 after buying an additional 641 shares in the last quarter. IMA Advisory Services Inc. purchased a new stake in AT&T in the 1st quarter valued at $29,000. Finally, Core Alternative Capital grew its holdings in AT&T by 125.4% in the 1st quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock valued at $29,000 after buying an additional 568 shares in the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Performance

NYSE T opened at $28.07 on Tuesday. The stock has a market cap of $200.71 billion, a PE ratio of 15.95, a P/E/G ratio of 3.62 and a beta of 0.44. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. AT&T Inc. has a twelve month low of $21.05 and a twelve month high of $29.79. The stock has a fifty day simple moving average of $28.62 and a 200-day simple moving average of $27.91.

AT&T (NYSE:T) last posted its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.01. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The firm had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. During the same quarter in the prior year, the company earned $0.51 EPS. AT&T’s revenue was up 3.4% on a year-over-year basis. Equities analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be paid a dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.0%. AT&T’s dividend payout ratio is presently 63.07%.

Analyst Upgrades and Downgrades

T has been the subject of several analyst reports. Scotiabank upped their target price on AT&T from $29.50 to $30.00 and gave the company a “sector outperform” rating in a report on Friday, July 11th. Raymond James Financial restated a “strong-buy” rating and issued a $33.00 target price (up from $31.00) on shares of AT&T in a report on Thursday, September 18th. Hsbc Global Res cut AT&T from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 24th. Citigroup reiterated a “buy” rating on shares of AT&T in a report on Tuesday, August 26th. Finally, The Goldman Sachs Group began coverage on AT&T in a report on Tuesday, September 2nd. They set a “buy” rating and a $32.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.74.

AT&T 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.