Legacy Financial Advisors Inc. Raises Holdings in AT&T Inc. (NYSE:T)

Legacy Financial Advisors Inc. lifted its stake in shares of AT&T Inc. (NYSE:T) by 21.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,920 shares of the technology company’s stock after acquiring 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.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Sapient Capital LLC purchased a new position in AT&T in the 4th quarter valued at about $712,000. W Advisors LLC raised its position in shares of AT&T by 17.5% in the fourth quarter. W Advisors LLC now owns 29,234 shares of the technology company’s stock valued at $491,000 after buying an additional 4,348 shares during the last quarter. Axxcess Wealth Management LLC lifted its stake in shares of AT&T by 26.5% during the fourth quarter. Axxcess Wealth Management LLC now owns 259,606 shares of the technology company’s stock valued at $4,356,000 after buying an additional 54,428 shares during the period. Signature Resources Capital Management LLC acquired a new stake in AT&T during the fourth quarter worth approximately $51,000. Finally, LSV Asset Management grew its stake in AT&T by 2.8% in the 4th quarter. LSV Asset Management now owns 29,443,243 shares of the technology company’s stock worth $494,058,000 after acquiring an additional 797,700 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 0.2 %

AT&T stock traded up $0.03 during trading on Friday, reaching $16.85. 24,023,192 shares of the company’s stock were exchanged, compared to its average volume of 41,324,028. AT&T Inc. has a 52-week low of $13.43 and a 52-week high of $18.16. The firm has a market cap of $120.52 billion, a price-to-earnings ratio of 9.06, a PEG ratio of 3.31 and a beta of 0.57. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.63 and a current ratio of 0.68. The company’s 50-day moving average is $16.97 and its two-hundred day moving average is $16.64.

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

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were paid a $0.2775 dividend. The ex-dividend date was Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.59%. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Analyst Ratings Changes

T has been the topic of a number of recent analyst reports. Barclays raised AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price target on the stock in a research note on Monday, April 29th. Scotiabank raised their price target 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. Wolfe Research raised shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a research note on Tuesday, March 5th. Tigress Financial increased their price objective on shares of AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $17.00 target price on shares of AT&T in a report on Thursday, April 11th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, AT&T has an average rating of “Moderate Buy” and a consensus price target of $20.81.

AT&T 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.