Legacy Wealth Management LLC MS Invests $1.04 Million in AT&T Inc. (NYSE:T)

Legacy Wealth Management LLC MS purchased a new position in shares of AT&T Inc. (NYSE:T) in the 3rd quarter, Holdings Channel reports. The firm purchased 47,362 shares of the technology company’s stock, valued at approximately $1,042,000.

Other institutional investors also recently modified their holdings of the company. Strategic Financial Concepts LLC grew its stake in shares of AT&T by 227.6% in the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after purchasing an additional 91,578 shares during the last quarter. Legacy Investment Solutions LLC bought a new stake in AT&T during the third quarter valued at $25,000. Riggs Asset Managment Co. Inc. boosted its position 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 acquiring an additional 1,116 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE boosted its position in AT&T by 169.2% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after acquiring an additional 841 shares during the last quarter. Finally, American Capital Advisory LLC boosted its position in AT&T by 107.5% during the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after acquiring an additional 807 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on T shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $22.00 price target on shares of AT&T in a research report on Thursday, October 24th. Evercore ISI upped their price target on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research report on Thursday, October 24th. Moffett Nathanson increased their price objective on shares of AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Oppenheimer initiated coverage on shares of AT&T in a research report on Tuesday. They set an “outperform” rating and a $28.00 price objective on the stock. Finally, Tigress Financial increased their price objective on shares of AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $25.00.

AT&T Stock Up 0.5 %

NYSE:T traded up $0.12 on Friday, hitting $23.48. The stock had a trading volume of 8,035,712 shares, compared to its average volume of 35,404,805. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The stock has a market cap of $168.48 billion, a P/E ratio of 18.99, a price-to-earnings-growth ratio of 3.57 and a beta of 0.59. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $24.03. The firm’s fifty day simple moving average is $22.47 and its two-hundred day simple moving average is $20.51.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The firm had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. During the same period in the prior year, the firm earned $0.64 EPS. The company’s revenue was down .5% compared to the same quarter last year. Analysts predict that AT&T Inc. will post 2.19 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.73%. AT&T’s dividend payout ratio is currently 90.24%.

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.