Legacy Financial Advisors Inc. Has $452,000 Stock Position in AT&T Inc. (NYSE:T)

Legacy Financial Advisors Inc. lifted its stake in shares of AT&T Inc. (NYSE:T) by 21.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,920 shares of the technology company’s stock after buying an additional 4,766 shares during the period. Legacy Financial Advisors Inc.’s holdings in AT&T were worth $452,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Sapient Capital LLC acquired a new stake in shares of AT&T during the fourth quarter worth $712,000. W Advisors LLC grew its holdings in AT&T by 17.5% during the 4th quarter. W Advisors LLC now owns 29,234 shares of the technology company’s stock worth $491,000 after acquiring an additional 4,348 shares during the period. Axxcess Wealth Management LLC grew its holdings in AT&T by 26.5% during the 4th quarter. Axxcess Wealth Management LLC now owns 259,606 shares of the technology company’s stock worth $4,356,000 after acquiring an additional 54,428 shares during the period. Signature Resources Capital Management LLC bought a new position in shares of AT&T in the 4th quarter worth about $51,000. Finally, LSV Asset Management lifted its stake in shares of AT&T by 2.8% in the 4th quarter. LSV Asset Management now owns 29,443,243 shares of the technology company’s stock valued at $494,058,000 after purchasing an additional 797,700 shares during the period. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

T has been the subject of several recent analyst reports. Scotiabank raised their target price on AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a research note on Thursday, April 25th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $17.00 price objective on shares of AT&T in a research note on Thursday, April 11th. Oppenheimer raised shares of AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research note on Friday, January 19th. Deutsche Bank Aktiengesellschaft raised their price target on shares of AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Finally, Wolfe Research raised shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a research report on Tuesday, March 5th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $20.81.

AT&T Price Performance

T stock traded up $0.03 during midday trading on Friday, reaching $16.85. The company had a trading volume of 24,023,192 shares, compared to its average volume of 41,324,028. The firm has a 50-day moving average price of $16.97 and a 200-day moving average price of $16.64. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.63. The company has a market capitalization of $120.52 billion, a P/E ratio of 9.06, a P/E/G ratio of 3.31 and a beta of 0.57. AT&T Inc. has a 1 year low of $13.43 and a 1 year high of $18.16.

AT&T (NYSE:T) last issued its earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.02. The business had revenue of $30.03 billion during the quarter, compared to analyst estimates of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. AT&T’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.60 earnings per share. On average, research analysts anticipate that AT&T Inc. will post 2.24 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were given a $0.2775 dividend. The ex-dividend date was Tuesday, April 9th. This represents a $1.11 annualized dividend and a yield of 6.59%. AT&T’s payout ratio is currently 59.68%.

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.