AT&T Inc. (NYSE:T) Stake Reduced by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC cut its position in AT&T Inc. (NYSE:T - Free Report) by 23.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 238,436 shares of the technology company's stock after selling 72,025 shares during the quarter. Axxcess Wealth Management LLC's holdings in AT&T were worth $5,246,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Strategic Financial Concepts LLC boosted its stake in shares of AT&T by 227.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company's stock valued at $25,000 after buying an additional 91,578 shares during the last quarter. Riggs Asset Managment Co. Inc. boosted its stake in AT&T by 356.5% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company's stock valued at $27,000 after acquiring an additional 1,116 shares during the last quarter. American Capital Advisory LLC grew its holdings in AT&T by 107.5% during the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company's stock worth $30,000 after acquiring an additional 807 shares in the last quarter. Altshuler Shaham Ltd bought a new stake in shares of AT&T in the 2nd quarter worth about $30,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in shares of AT&T by 176.6% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company's stock valued at $35,000 after purchasing an additional 1,192 shares in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Performance

T traded down $0.03 during trading hours on Monday, hitting $22.31. The company's stock had a trading volume of 23,456,428 shares, compared to its average volume of 35,570,270. The company has a 50-day simple moving average of $21.70 and a 200 day simple moving average of $19.56. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $160.08 billion, a PE ratio of 18.09, a PEG ratio of 3.35 and a beta of 0.59. AT&T Inc. has a fifty-two week low of $15.51 and a fifty-two week high of $22.73.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating analysts' consensus estimates of $0.57 by $0.03. The company had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company's quarterly revenue was down .5% compared to the same quarter last year. During the same period last year, the company earned $0.64 earnings per share. As a group, sell-side analysts expect that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.98%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T's dividend payout ratio is currently 90.24%.

Analysts Set New Price Targets

T has been the subject of a number of research reports. Scotiabank downgraded AT&T from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 6th. Daiwa America upgraded AT&T to a "hold" rating in a research report on Friday, July 26th. Citigroup upped their price target on AT&T from $21.00 to $24.00 and gave the company a "buy" rating in a research report on Wednesday, September 11th. Wells Fargo & Company decreased their price objective on shares of AT&T from $25.00 to $24.00 and set an "overweight" rating for the company in a report on Thursday, October 24th. Finally, Hsbc Global Res raised shares of AT&T to a "strong-buy" rating in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, AT&T currently has a consensus rating of "Moderate Buy" and an average price target of $23.40.

AT&T Profile

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.