Legacy Wealth Management LLC MS Purchases 4,157 Shares of AT&T Inc. (NYSE:T)

Legacy Wealth Management LLC MS increased its holdings in shares of AT&T Inc. (NYSE:T) by 8.8% during the fourth quarter, Holdings Channel reports. The fund owned 51,519 shares of the technology company’s stock after purchasing an additional 4,157 shares during the period. Legacy Wealth Management LLC MS’s holdings in AT&T were worth $1,173,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of T. Strategic Financial Concepts LLC lifted its stake in shares of AT&T by 227.6% during the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after acquiring an additional 91,578 shares during the period. Legacy Investment Solutions LLC bought a new stake in AT&T during the 3rd quarter worth about $25,000. Ritter Daniher Financial Advisory LLC DE lifted its position in AT&T by 169.2% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after purchasing an additional 841 shares during the period. Altshuler Shaham Ltd bought a new position in shares of AT&T in the 2nd quarter valued at about $30,000. Finally, Reston Wealth Management LLC bought a new stake in shares of AT&T during the third quarter worth approximately $35,000. Institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. The Goldman Sachs Group increased their price target on AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Redburn Atlantic upgraded AT&T to a “strong sell” rating in a report on Monday, September 16th. Sanford C. Bernstein began coverage on AT&T in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price target for the company. Royal Bank of Canada raised shares of AT&T from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $22.00 to $26.00 in a research note on Monday. Finally, Tigress Financial upped their target price 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 equities research analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $25.76.

AT&T Stock Performance

AT&T stock traded up $0.01 during midday trading on Monday, hitting $22.68. The company’s stock had a trading volume of 9,181,240 shares, compared to its average volume of 20,600,189. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $24.03. The company has a 50-day moving average price of $22.82 and a two-hundred day moving average price of $21.11. The company has a market cap of $162.74 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 3.60 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS 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 business had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. During the same period in the previous year, the business earned $0.64 earnings per share. The company’s revenue was down .5% on a year-over-year basis. As a group, sell-side analysts predict that AT&T Inc. will post 2.19 earnings per share for the current year.

AT&T Dividend Announcement

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 issued a dividend of $0.2775 per share. 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 payout ratio is 90.24%.

AT&T Company Profile

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.