My Legacy Advisors LLC Decreases Stock Holdings in AT&T Inc. (NYSE:T)

My Legacy Advisors LLC lowered its position in AT&T Inc. (NYSE:T) by 20.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 46,976 shares of the technology company’s stock after selling 12,246 shares during the period. My Legacy Advisors LLC’s holdings in AT&T were worth $1,033,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Mercer Global Advisors Inc. ADV raised its stake in shares of AT&T by 1,379.0% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock valued at $270,581,000 after buying an additional 13,201,774 shares during the last quarter. AQR Capital Management LLC lifted its holdings in AT&T by 43.3% in the second quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock valued at $414,563,000 after acquiring an additional 6,602,586 shares during the period. Bank of New York Mellon Corp boosted its position in AT&T by 7.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock worth $1,549,375,000 after purchasing an additional 5,592,123 shares in the last quarter. Thornburg Investment Management Inc. grew its stake in shares of AT&T by 22.0% during the 2nd quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock worth $477,528,000 after purchasing an additional 4,511,725 shares during the period. Finally, Jupiter Asset Management Ltd. acquired a new position in shares of AT&T in the 2nd quarter valued at $78,570,000. Institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

T has been the subject of a number of analyst reports. Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Scotiabank lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Citigroup upped their price objective on shares of AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a research report on Monday, September 16th. Finally, Tigress Financial upped their target price on shares of AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $22.69.

AT&T Stock Performance

T traded down $0.14 during trading on Tuesday, reaching $21.52. 22,553,037 shares of the company’s stock were exchanged, compared to its average volume of 35,445,211. The company has a market capitalization of $154.30 billion, a P/E ratio of 12.32, a PEG ratio of 3.73 and a beta of 0.60. The business has a 50 day moving average price of $20.99 and a 200 day moving average price of $19.01. AT&T Inc. has a fifty-two week low of $14.74 and a fifty-two week high of $22.34. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, hitting analysts’ consensus estimates of $0.57. The company had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The business’s revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.63 earnings per share. As a group, analysts predict that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued a dividend of $0.2775 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.16%. AT&T’s payout ratio is presently 63.79%.

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.