Legacy Financial Advisors Inc. Acquires 1,075 Shares of AT&T Inc. (NYSE:T)

Legacy Financial Advisors Inc. raised its holdings in AT&T Inc. (NYSE:T) by 3.3% in the second quarter, Holdings Channel reports. The firm owned 33,523 shares of the technology company’s stock after purchasing an additional 1,075 shares during the period. Legacy Financial Advisors Inc.’s holdings in AT&T were worth $641,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in T. Frank Rimerman Advisors LLC purchased a new stake in AT&T during the fourth quarter worth about $25,000. Pineridge Advisors LLC bought a new stake in shares of AT&T in the 4th quarter worth approximately $25,000. Strategic Financial Concepts LLC lifted its stake in AT&T by 227.6% in the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after purchasing an additional 91,578 shares during the last quarter. Riggs Asset Managment Co. Inc. grew its holdings in AT&T by 356.5% during the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after purchasing an additional 1,116 shares during the period. Finally, American Capital Advisory LLC raised its stake in shares of AT&T by 107.5% in the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after buying an additional 807 shares during the period. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Trading Up 0.8 %

Shares of T opened at $21.54 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. AT&T Inc. has a 1-year low of $14.12 and a 1-year high of $22.34. The company has a market capitalization of $154.45 billion, a P/E ratio of 11.58, a P/E/G ratio of 3.79 and a beta of 0.59. The firm’s 50 day simple moving average is $19.88 and its 200 day simple moving average is $18.34.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting the consensus estimate of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The firm had revenue of $29.80 billion for the quarter, compared to analysts’ expectations of $30.05 billion. During the same quarter last year, the company posted $0.63 EPS. The business’s quarterly revenue was down .3% on a year-over-year basis. Sell-side analysts forecast that AT&T Inc. will post 2.2 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.15%. The ex-dividend date of this dividend was Wednesday, July 10th. AT&T’s payout ratio is currently 59.68%.

Analyst Ratings Changes

T has been the subject of several recent research reports. JPMorgan Chase & Co. lifted their price objective on AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Barclays boosted their price target on shares of AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Evercore ISI raised their price objective on shares of AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a report on Thursday, July 25th. Citigroup lifted their price objective on shares of AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Finally, Moffett Nathanson raised their price target on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $22.31.

About AT&T

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.