Xcel Wealth Management LLC Sells 11,811 Shares of AT&T Inc. $T

Xcel Wealth Management LLC trimmed its position in shares of AT&T Inc. (NYSE:T) by 17.4% during the second quarter, HoldingsChannel.com reports. The firm owned 56,249 shares of the technology company’s stock after selling 11,811 shares during the period. Xcel Wealth Management LLC’s holdings in AT&T were worth $1,628,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in T. Vanguard Group Inc. grew its holdings in AT&T by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 651,044,650 shares of the technology company’s stock worth $18,411,543,000 after acquiring an additional 8,185,006 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new position in shares of AT&T during the second quarter worth $5,266,758,000. GQG Partners LLC lifted its holdings in shares of AT&T by 17.7% during the first quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock worth $3,222,711,000 after purchasing an additional 17,177,874 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of AT&T by 3.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 55,216,190 shares of the technology company’s stock worth $1,561,514,000 after purchasing an additional 1,783,363 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of AT&T by 2.5% in the first quarter. Dimensional Fund Advisors LP now owns 53,339,376 shares of the technology company’s stock worth $1,508,411,000 after purchasing an additional 1,307,009 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Trading Down 1.6%

Shares of T stock opened at $28.34 on Thursday. AT&T Inc. has a fifty-two week low of $21.05 and a fifty-two week high of $29.79. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81. The stock has a 50 day simple moving average of $28.55 and a two-hundred day simple moving average of $27.85. The company has a market cap of $202.63 billion, a P/E ratio of 16.10, a PEG ratio of 3.69 and a beta of 0.44.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. The firm had revenue of $30.85 billion for the quarter, compared to analysts’ expectations of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.51 EPS. Research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

Analyst Ratings Changes

T has been the subject of several analyst reports. Raymond James Financial reaffirmed a “strong-buy” rating and set a $33.00 target price (up from $31.00) on shares of AT&T in a research report on Thursday, September 18th. JPMorgan Chase & Co. increased their price target on AT&T from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Hsbc Global Res downgraded AT&T from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 24th. Bank of America initiated coverage on AT&T in a report on Monday, July 7th. They issued a “buy” rating and a $32.00 target price on the stock. Finally, Scotiabank raised their price target on shares of AT&T from $29.50 to $30.00 and gave the stock a “sector outperform” rating in a report on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $30.74.

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.