Legacy Capital Wealth Partners LLC Cuts Position in AT&T Inc. (NYSE:T)

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

Other institutional investors also recently made changes to their positions in the company. Northeast Investment Management grew its holdings in shares of AT&T by 0.9% in the 4th quarter. Northeast Investment Management now owns 51,198 shares of the technology company’s stock worth $1,166,000 after acquiring an additional 451 shares during the period. Chesapeake Wealth Management grew its holdings in AT&T by 1.9% in the third quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock valued at $535,000 after purchasing an additional 460 shares during the last quarter. Luts & Greenleigh Group Inc. increased its position in shares of AT&T by 2.8% in the fourth quarter. Luts & Greenleigh Group Inc. now owns 16,905 shares of the technology company’s stock valued at $385,000 after buying an additional 460 shares in the last quarter. Socha Financial Group LLC raised its stake in shares of AT&T by 2.5% during the 3rd quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock worth $415,000 after buying an additional 461 shares during the last quarter. Finally, Garden State Investment Advisory Services LLC boosted its position in shares of AT&T by 1.4% in the 3rd quarter. Garden State Investment Advisory Services LLC now owns 34,468 shares of the technology company’s stock worth $759,000 after buying an additional 468 shares in the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Up 1.0 %

Shares of T opened at $25.88 on Friday. The firm has a market cap of $185.66 billion, a PE ratio of 17.37, a price-to-earnings-growth ratio of 2.79 and a beta of 0.59. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The company’s fifty day moving average is $23.23 and its two-hundred day moving average is $22.04. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $25.93.

AT&T (NYSE:T) last posted its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. Analysts forecast that AT&T Inc. will post 2.15 earnings per share for the current year.

AT&T Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts have weighed in on T shares. BNP Paribas upgraded shares of AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 target price for the company in a report on Thursday. Scotiabank raised their price objective on shares of AT&T from $24.00 to $26.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, January 28th. Wells Fargo & Company reduced their target price 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. JPMorgan Chase & Co. raised their price target on AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Finally, The Goldman Sachs Group upped their price objective on AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, AT&T currently has an average rating of “Moderate Buy” and a consensus target price of $26.33.

AT&T Profile

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.