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

My Legacy Advisors LLC reduced its holdings in shares of AT&T Inc. (NYSE:T) by 2.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 45,799 shares of the technology company’s stock after selling 1,177 shares during the period. My Legacy Advisors LLC’s holdings in AT&T were worth $1,003,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. AQR Capital Management LLC raised its position in AT&T by 43.3% during the 2nd quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock worth $414,563,000 after buying an additional 6,602,586 shares during the last quarter. Geode Capital Management LLC raised its holdings in AT&T by 2.3% during the third quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock worth $3,532,684,000 after purchasing an additional 3,630,972 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in AT&T by 110.3% during the second quarter. Canada Pension Plan Investment Board now owns 6,155,046 shares of the technology company’s stock worth $117,623,000 after purchasing an additional 3,228,888 shares in the last quarter. Public Sector Pension Investment Board boosted its holdings in AT&T by 1,901.0% in the 2nd quarter. Public Sector Pension Investment Board now owns 3,166,814 shares of the technology company’s stock valued at $60,518,000 after purchasing an additional 3,008,549 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in AT&T by 41.4% during the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock worth $168,969,000 after purchasing an additional 2,326,904 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on T shares. Barclays raised their price target on AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. boosted their target price on shares of AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Citigroup increased their price target on shares of AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Oppenheimer initiated coverage on shares of AT&T in a report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price objective on the stock. Finally, Tigress Financial increased their target price on shares of AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a report on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $25.83.

AT&T Price Performance

Shares of NYSE:T opened at $22.30 on Friday. The company has a market cap of $159.97 billion, a P/E ratio of 18.13, a P/E/G ratio of 3.46 and a beta of 0.59. The business has a fifty day simple moving average of $22.79 and a 200-day simple moving average of $21.31. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $24.03. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS 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 company had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. During the same quarter in the prior year, the company posted $0.64 EPS. The company’s quarterly revenue was down .5% compared to the same quarter last year. Equities research analysts forecast that AT&T Inc. will post 2.2 EPS for the current year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be paid a dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.98%. AT&T’s dividend payout ratio is presently 90.24%.

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.