Consolidated Planning Corp Sells 10,791 Shares of AT&T Inc. (NYSE:T)

Consolidated Planning Corp reduced its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 3.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 309,298 shares of the technology company's stock after selling 10,791 shares during the quarter. AT&T comprises 1.2% of Consolidated Planning Corp's investment portfolio, making the stock its 22nd biggest position. Consolidated Planning Corp's holdings in AT&T were worth $8,747,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of T. Minot DeBlois Advisors LLC purchased a new stake in AT&T in the 4th quarter worth approximately $25,000. Capital A Wealth Management LLC purchased a new stake in AT&T in the 4th quarter worth approximately $25,000. Putney Financial Group LLC purchased a new stake in AT&T in the 4th quarter worth approximately $27,000. Marshall Investment Management LLC purchased a new stake in AT&T in the 4th quarter worth approximately $28,000. Finally, Tradewinds Capital Management LLC lifted its stake in AT&T by 48.6% in the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company's stock worth $30,000 after purchasing an additional 430 shares in the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on T shares. Wells Fargo & Company raised their price objective on shares of AT&T from $27.00 to $30.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. JPMorgan Chase & Co. raised their price objective on shares of AT&T from $28.00 to $31.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. UBS Group restated a "buy" rating and set a $31.00 price objective (up previously from $30.00) on shares of AT&T in a research report on Wednesday, June 18th. Cowen restated a "hold" rating on shares of AT&T in a research report on Thursday, April 24th. Finally, Oppenheimer raised their price objective on shares of AT&T from $27.00 to $32.00 and gave the company an "outperform" rating in a research report on Tuesday, April 1st. One analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $28.76.

AT&T Stock Up 1.7%

AT&T stock traded up $0.46 during trading hours on Monday, hitting $28.23. The stock had a trading volume of 32,918,838 shares, compared to its average volume of 36,577,372. The company has a quick ratio of 0.65, a current ratio of 0.70 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $203.13 billion, a P/E ratio of 17.32, a price-to-earnings-growth ratio of 3.87 and a beta of 0.41. AT&T Inc. has a 12-month low of $18.14 and a 12-month high of $29.03. The stock's 50-day moving average price is $27.55 and its 200-day moving average price is $25.84.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). The company had revenue of $30.63 billion for the quarter, compared to the consensus estimate of $30.39 billion. AT&T had a net margin of 9.64% and a return on equity of 13.63%. The firm's revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter last year, the company earned $0.55 EPS. Equities research analysts anticipate that AT&T Inc. will post 2.14 EPS for the current fiscal year.

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.