Legacy Wealth Management LLC MS Invests $1.04 Million in AT&T Inc. (NYSE:T)

Legacy Wealth Management LLC MS purchased a new position in shares of AT&T Inc. (NYSE:T - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 47,362 shares of the technology company's stock, valued at approximately $1,042,000.

Other large investors have also bought and sold shares of the company. Chesapeake Wealth Management grew its stake in shares of 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 buying an additional 460 shares in the last quarter. Socha Financial Group LLC lifted its stake in 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 acquiring an additional 461 shares in the last quarter. Garden State Investment Advisory Services LLC boosted its holdings in AT&T by 1.4% during the 3rd quarter. Garden State Investment Advisory Services LLC now owns 34,468 shares of the technology company's stock valued at $759,000 after acquiring an additional 468 shares during the period. Essex Savings Bank grew its position in AT&T by 2.3% in the 3rd quarter. Essex Savings Bank now owns 21,636 shares of the technology company's stock valued at $476,000 after acquiring an additional 480 shares in the last quarter. Finally, Hayek Kallen Investment Management increased its stake in AT&T by 0.8% during the third quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company's stock worth $1,326,000 after purchasing an additional 500 shares during the period. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on T. Hsbc Global Res raised shares of AT&T to a "strong-buy" rating in a research note on Tuesday, October 1st. Sanford C. Bernstein initiated coverage on shares of AT&T in a research note on Tuesday. They issued an "outperform" rating and a $28.00 price target for the company. Redburn Atlantic raised AT&T to a "strong sell" rating in a research report on Monday, September 16th. Barclays lifted their target price on AT&T from $24.00 to $27.00 and gave the company an "overweight" rating in a report on Wednesday, December 4th. Finally, Tigress Financial upped their price target on AT&T from $29.00 to $30.00 and gave the stock a "buy" rating in a report on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $25.00.

AT&T Stock Performance

T traded up $0.27 on Friday, reaching $23.63. The company had a trading volume of 33,672,094 shares, compared to its average volume of 35,519,809. 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 Inc. has a 1 year low of $15.94 and a 1 year high of $24.03. The stock has a market capitalization of $169.55 billion, a PE ratio of 19.18, a P/E/G ratio of 3.57 and a beta of 0.59. The stock has a 50-day moving average price of $22.47 and a 200-day moving average price of $20.51.

AT&T (NYSE:T - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.03. The firm had revenue of $30.20 billion during the quarter, compared to analysts' expectations of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business's revenue was down .5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 EPS. As a group, research analysts forecast that AT&T Inc. will post 2.19 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be paid a $0.2775 dividend. The ex-dividend date is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.70%. AT&T's dividend payout ratio is presently 90.24%.

AT&T 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.