Legacy Financial Advisors Inc. Has $641,000 Stock Position in AT&T Inc. (NYSE:T)

Legacy Financial Advisors Inc. lifted its holdings in shares of AT&T Inc. (NYSE:T) by 3.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 33,523 shares of the technology company’s stock after purchasing an additional 1,075 shares during the period. Legacy Financial Advisors Inc.’s holdings in AT&T were worth $641,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of T. Cantor Fitzgerald Investment Advisors L.P. bought a new stake in shares of AT&T in the 4th quarter valued at about $11,554,000. Clearbridge Investments LLC increased its position in AT&T by 250.3% during the 4th quarter. Clearbridge Investments LLC now owns 67,303 shares of the technology company’s stock valued at $1,129,000 after purchasing an additional 48,091 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in AT&T by 4.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 1,037,529 shares of the technology company’s stock worth $19,827,000 after purchasing an additional 43,062 shares during the last quarter. M&G Plc acquired a new position in shares of AT&T in the 1st quarter worth approximately $9,074,000. Finally, Steward Partners Investment Advisory LLC lifted its position in shares of AT&T by 30.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 835,361 shares of the technology company’s stock worth $14,017,000 after purchasing an additional 197,234 shares during the period. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 0.8 %

AT&T stock opened at $21.54 on Friday. The firm has a market capitalization of $154.45 billion, a price-to-earnings ratio of 11.58, a price-to-earnings-growth ratio of 3.79 and a beta of 0.59. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. AT&T Inc. has a 1-year low of $14.12 and a 1-year high of $22.34. The firm’s fifty day moving average price is $19.88 and its two-hundred day moving average price is $18.34.

AT&T (NYSE:T) last posted its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share 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 for the quarter, compared to analyst estimates of $30.05 billion. During the same quarter last year, the company earned $0.63 earnings per share. The company’s revenue for the quarter was down .3% on a year-over-year basis. On average, equities research analysts predict that AT&T Inc. will post 2.2 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 5.15%. The ex-dividend date of this dividend was Wednesday, July 10th. AT&T’s dividend payout ratio is 59.68%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on T shares. Daiwa America raised shares of AT&T to a “hold” rating in a research note on Friday, July 26th. The Goldman Sachs Group initiated coverage on AT&T in a research report on Monday, July 1st. They issued a “buy” rating and a $22.00 price objective for the company. JPMorgan Chase & Co. boosted their price objective on AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Evercore ISI raised their target price on AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a research note on Thursday, July 25th. Finally, BNP Paribas upgraded AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $22.31.

About AT&T

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.