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

Key Points

• Xcel Wealth Management LLC sold 11,811 shares of AT&T Inc., reducing its stake by 17.4%, leaving them with 56,249 shares valued at approximately $1,628,000.
• Analysts have mixed sentiments about AT&T, with ratings ranging from "strong-buy" to "hold," and the average target price now stands at $30.74.
• AT&T reported a quarterly earnings per share (EPS) of $0.54, which exceeded analyst expectations, contributing to a 3.4% year-over-year revenue increase to $30.85 billion.

Xcel Wealth Management LLC cut its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 17.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 institutional investors and hedge funds also recently made changes to their positions in T. Stone House Investment Management LLC bought a new stake in shares of AT&T in the first quarter valued at about $25,000. O Brien Wealth Partners LLC acquired a new stake in AT&T in the 2nd quarter worth about $26,000. Hager Investment Management Services LLC raised its stake in AT&T by 182.1% in the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock worth $28,000 after purchasing an additional 641 shares in the last quarter. IMA Advisory Services Inc. bought a new stake in AT&T in the 1st quarter valued at about $29,000. Finally, Core Alternative Capital grew its position in shares of AT&T by 125.4% during the 1st quarter. Core Alternative Capital now owns 1,021 shares of the technology company's stock worth $29,000 after purchasing an additional 568 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on T shares. 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 report on Thursday, September 18th. Morgan Stanley increased their price target on AT&T from $31.00 to $32.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Hsbc Global Res lowered AT&T from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 24th. The Goldman Sachs Group initiated coverage on AT&T in a report on Tuesday, September 2nd. They issued a "buy" rating and a $32.00 price objective for the company. Finally, UBS Group set a $33.00 target price on AT&T in a research report on Thursday, September 18th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $30.74.

AT&T Stock Down 1.6%

Shares of NYSE T opened at $28.34 on Thursday. The company has a market cap of $202.63 billion, a price-to-earnings ratio of 16.10, a PEG ratio of 3.69 and a beta of 0.44. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. AT&T Inc. has a 12 month low of $21.05 and a 12 month high of $29.79. The stock has a 50-day moving average price of $28.55 and a two-hundred day moving average price of $27.85.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.01. The company had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The firm's revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.51 EPS. As a group, analysts forecast that AT&T Inc. will post 2.14 earnings per share 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.

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