Legacy Wealth Management Inc Sells 72,043 Shares of AT&T Inc. (NYSE:T)

Legacy Wealth Management Inc trimmed its holdings in AT&T Inc. (NYSE:T) by 77.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,325 shares of the technology company’s stock after selling 72,043 shares during the quarter. AT&T accounts for 0.0% of Legacy Wealth Management Inc’s portfolio, making the stock its 28th largest holding. Legacy Wealth Management Inc’s holdings in AT&T were worth $486,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Legacy Investment Solutions LLC acquired a new stake in AT&T during the third quarter worth $25,000. Ritter Daniher Financial Advisory LLC DE lifted its holdings in shares of AT&T by 169.2% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after acquiring an additional 841 shares during the period. Endeavor Private Wealth Inc. acquired a new stake in shares of AT&T during the 4th quarter valued at about $34,000. Reston Wealth Management LLC acquired a new position in AT&T in the third quarter worth about $35,000. Finally, Safe Harbor Fiduciary LLC acquired a new stake in AT&T during the third quarter valued at approximately $35,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analysts Set New Price Targets

T has been the subject of a number of recent research reports. Oppenheimer initiated coverage on AT&T in a report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 target price for the company. Evercore ISI upped their target price on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a report on Thursday, October 24th. Wells Fargo & Company cut their price target on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. JPMorgan Chase & Co. boosted their target price on AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, Argus raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, AT&T has an average rating of “Moderate Buy” and a consensus target price of $25.83.

AT&T Trading Up 0.7 %

NYSE T opened at $22.69 on Friday. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $24.03. The stock has a 50-day simple moving average of $22.80 and a 200 day simple moving average of $21.44. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $162.77 billion, a PE ratio of 18.44, a P/E/G ratio of 3.50 and a beta of 0.59.

AT&T (NYSE:T) last announced its quarterly 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. The business had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. AT&T’s revenue for the quarter was down .5% on a year-over-year basis. During the same period last year, the company posted $0.64 EPS. Research analysts forecast that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be given a $0.2775 dividend. The ex-dividend date is Friday, January 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.89%. AT&T’s dividend payout ratio is presently 90.24%.

AT&T Company 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.