Axxcess Wealth Management LLC Lowers Holdings in AT&T Inc. (NYSE:T)

Axxcess Wealth Management LLC lowered its holdings in AT&T Inc. (NYSE:T) by 0.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 237,159 shares of the technology company’s stock after selling 1,277 shares during the quarter. Axxcess Wealth Management LLC’s holdings in AT&T were worth $5,400,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Edgemoor Investment Advisors Inc. lifted its holdings in shares of AT&T by 3.1% in the 4th quarter. Edgemoor Investment Advisors Inc. now owns 290,193 shares of the technology company’s stock worth $6,608,000 after acquiring an additional 8,709 shares during the last quarter. Flagship Wealth Advisors LLC purchased a new stake in AT&T in the fourth quarter valued at approximately $214,000. Wealth Architects LLC lifted its stake in AT&T by 11.2% during the fourth quarter. Wealth Architects LLC now owns 13,672 shares of the technology company’s stock worth $311,000 after purchasing an additional 1,373 shares in the last quarter. Horizon Kinetics Asset Management LLC purchased a new position in shares of AT&T during the fourth quarter worth $237,000. Finally, Curio Wealth LLC acquired a new stake in shares of AT&T in the fourth quarter valued at $90,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on T. Royal Bank of Canada raised their target price on AT&T from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Argus raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Thursday, January 16th. Tigress Financial upped their target price on shares of AT&T from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Sanford C. Bernstein increased their target price on shares of AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Finally, Morgan Stanley upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $19.00 to $28.00 in a research note on Monday, December 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $26.74.

AT&T Stock Down 0.8 %

T stock opened at $26.60 on Wednesday. The stock has a market cap of $190.97 billion, a P/E ratio of 17.86, a PEG ratio of 3.00 and a beta of 0.56. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $27.97. The company’s 50 day moving average is $24.84 and its two-hundred day moving average is $23.18.

AT&T (NYSE:T) last announced its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. Research analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T 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.