Xcel Wealth Management LLC Has $1.58 Million Stock Position in AT&T Inc. (NYSE:T)

Xcel Wealth Management LLC decreased its stake in shares of AT&T Inc. (NYSE:T) by 0.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,923 shares of the technology company’s stock after selling 570 shares during the period. Xcel Wealth Management LLC’s holdings in AT&T were worth $1,582,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV lifted its position in AT&T by 1,379.0% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock valued at $270,581,000 after purchasing an additional 13,201,774 shares during the period. AQR Capital Management LLC lifted its position in AT&T by 43.3% during the 2nd quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock valued at $414,563,000 after purchasing an additional 6,602,586 shares during the period. Bank of New York Mellon Corp lifted its position in AT&T by 7.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock valued at $1,549,375,000 after purchasing an additional 5,592,123 shares during the period. Thornburg Investment Management Inc. increased its stake in shares of AT&T by 22.0% in the 2nd quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock valued at $477,528,000 after acquiring an additional 4,511,725 shares during the last quarter. Finally, Jupiter Asset Management Ltd. bought a new stake in shares of AT&T in the 2nd quarter valued at about $78,570,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

T has been the subject of a number of recent analyst reports. Hsbc Global Res raised AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Scotiabank cut AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. JPMorgan Chase & Co. increased their target price on AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft increased their target price on AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Finally, Tigress Financial increased their target price on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.69.

AT&T Stock Down 0.6 %

AT&T stock traded down $0.12 during trading on Tuesday, hitting $21.54. 22,012,408 shares of the company were exchanged, compared to its average volume of 35,442,563. The company has a market capitalization of $154.45 billion, a P/E ratio of 12.32, a PEG ratio of 3.73 and a beta of 0.60. The business’s 50 day moving average is $20.99 and its 200 day moving average is $19.01. AT&T Inc. has a 52 week low of $14.74 and a 52 week high of $22.34. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.57. The firm had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The business’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.63 EPS. Analysts predict that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be paid a dividend of $0.2775 per share. The ex-dividend date is Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.15%. AT&T’s payout ratio is 63.79%.

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.