Xcel Wealth Management LLC Decreases Holdings in AT&T Inc. (NYSE:T)

Xcel Wealth Management LLC reduced its stake in AT&T Inc. (NYSE:T - Free Report) by 50.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 109,678 shares of the technology company's stock after selling 112,570 shares during the period. Xcel Wealth Management LLC's holdings in AT&T were worth $1,840,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in T. Moneta Group Investment Advisors LLC increased its holdings in AT&T by 85,003.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 76,836,936 shares of the technology company's stock valued at $1,414,568,000 after purchasing an additional 76,746,649 shares in the last quarter. Norges Bank acquired a new stake in shares of AT&T during the fourth quarter valued at about $1,229,499,000. Ameriprise Financial Inc. grew its stake in shares of AT&T by 185.6% during the third quarter. Ameriprise Financial Inc. now owns 52,613,513 shares of the technology company's stock valued at $790,301,000 after acquiring an additional 34,189,954 shares in the last quarter. FMR LLC grew its stake in shares of AT&T by 130.5% during the third quarter. FMR LLC now owns 57,515,546 shares of the technology company's stock valued at $863,884,000 after acquiring an additional 32,558,342 shares in the last quarter. Finally, Morgan Stanley grew its stake in shares of AT&T by 37.3% during the fourth quarter. Morgan Stanley now owns 109,639,428 shares of the technology company's stock valued at $2,018,462,000 after acquiring an additional 29,769,976 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Price Performance

Shares of NYSE T traded down $0.11 during mid-day trading on Friday, reaching $16.31. 37,577,160 shares of the company traded hands, compared to its average volume of 38,433,215. AT&T Inc. has a fifty-two week low of $13.43 and a fifty-two week high of $19.99. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.71 and a quick ratio of 0.67. The firm has a market cap of $116.66 billion, a PE ratio of 8.34, a price-to-earnings-growth ratio of 2.52 and a beta of 0.57. The stock has a fifty day simple moving average of $17.13 and a 200-day simple moving average of $16.44.

AT&T (NYSE:T - Get Free Report) last posted its quarterly earnings results on Wednesday, January 24th. The technology company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.01). The business had revenue of $32 billion during the quarter, compared to analyst estimates of $31.44 billion. AT&T had a return on equity of 15.39% and a net margin of 11.76%. The company's quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.61 EPS. Equities research analysts anticipate that AT&T Inc. will post 2.21 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be given a $0.2775 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.11 annualized dividend and a yield of 6.81%. AT&T's dividend payout ratio (DPR) is 56.63%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on T. Citigroup raised their target price on AT&T from $19.00 to $20.00 and gave the company a "buy" rating in a research note on Thursday, February 1st. Oppenheimer upgraded AT&T from a "market perform" rating to an "outperform" rating and set a $21.00 target price for the company in a research note on Friday, January 19th. JPMorgan Chase & Co. raised shares of AT&T from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $18.00 to $21.00 in a research report on Thursday, February 1st. Tigress Financial increased their price target on shares of AT&T from $28.00 to $29.00 and gave the stock a "buy" rating in a research report on Wednesday, January 31st. Finally, StockNews.com cut shares of AT&T from a "buy" rating to a "hold" rating in a report on Thursday, April 4th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $20.68.

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.

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