AT&T Inc. (NYSE:T) Shares Sold by Legacy Capital Wealth Partners LLC

Legacy Capital Wealth Partners LLC decreased its position in AT&T Inc. (NYSE:T) by 2.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,624 shares of the technology company’s stock after selling 732 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in AT&T were worth $834,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in T. Geode Capital Management LLC lifted its stake in shares of AT&T by 2.3% in the third quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock worth $3,532,684,000 after acquiring an additional 3,630,972 shares in the last quarter. FMR LLC raised its position in shares of AT&T by 1.9% in the 3rd quarter. FMR LLC now owns 60,986,064 shares of the technology company’s stock valued at $1,341,693,000 after purchasing an additional 1,149,688 shares in the last quarter. Swiss National Bank raised its position in shares of AT&T by 0.5% in the 3rd quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock valued at $468,217,000 after purchasing an additional 104,700 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of AT&T by 1.9% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 17,543,563 shares of the technology company’s stock valued at $399,467,000 after buying an additional 325,073 shares during the last quarter. Finally, National Pension Service grew its position in shares of AT&T by 15.8% during the third quarter. National Pension Service now owns 15,769,707 shares of the technology company’s stock worth $346,934,000 after buying an additional 2,152,016 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Scotiabank increased their price objective on shares of AT&T from $24.00 to $26.00 and gave the company a “sector outperform” rating in a research note on Tuesday, January 28th. The Goldman Sachs Group increased their price target on shares of AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Oppenheimer began coverage on AT&T in a report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price objective for the company. Wells Fargo & Company cut their price objective on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Finally, UBS Group boosted their price target on AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $26.33.

AT&T Price Performance

Shares of NYSE:T opened at $25.88 on Friday. The firm’s 50 day moving average is $23.23 and its two-hundred day moving average is $22.04. The firm has a market capitalization of $185.66 billion, a P/E ratio of 17.37, a PEG ratio of 2.79 and a beta of 0.59. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $25.93.

AT&T (NYSE:T) last posted its earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. Analysts anticipate that AT&T Inc. will post 2.15 earnings per share for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date of this dividend was Friday, January 10th. AT&T’s dividend payout ratio is currently 74.50%.

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.