My Legacy Advisors LLC Has $1.03 Million Stock Position in AT&T Inc. (NYSE:T)

My Legacy Advisors LLC decreased its position in shares of AT&T Inc. (NYSE:T) by 20.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,976 shares of the technology company’s stock after selling 12,246 shares during the quarter. My Legacy Advisors LLC’s holdings in AT&T were worth $1,033,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its position in AT&T by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock valued at $10,999,912,000 after buying an additional 2,588,539 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of AT&T by 7.4% during the second quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock valued at $1,549,375,000 after acquiring an additional 5,592,123 shares during the last quarter. Legal & General Group Plc raised its stake in shares of AT&T by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock worth $1,148,689,000 after purchasing an additional 1,569,374 shares during the period. Ameriprise Financial Inc. grew its position in shares of AT&T by 2.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock valued at $985,307,000 after acquiring an additional 1,007,228 shares during the period. Finally, LSV Asset Management increased its position in AT&T by 1.1% in the second quarter. LSV Asset Management now owns 30,092,610 shares of the technology company’s stock worth $575,070,000 after buying an additional 315,580 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Price Performance

T traded down $0.14 on Tuesday, hitting $21.52. 22,553,037 shares of the company’s stock traded hands, compared to its average volume of 35,445,211. AT&T Inc. has a one year low of $14.74 and a one year high of $22.34. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. The firm has a market cap of $154.30 billion, a price-to-earnings ratio of 12.32, a P/E/G ratio of 3.73 and a beta of 0.60. The company’s 50 day simple moving average is $20.99 and its 200-day simple moving average is $19.01.

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

AT&T Dividend Announcement

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

Analyst Ratings Changes

T has been the topic of a number of research analyst reports. Daiwa America raised shares of AT&T to a “hold” rating in a report on Friday, July 26th. JPMorgan Chase & Co. increased their target price on AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Evercore ISI increased their price objective on AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a research note on Thursday, July 25th. Tigress Financial lifted 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. Finally, Scotiabank lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.69.

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.