SteelPeak Wealth LLC Acquires 50,969 Shares of AT&T Inc. $T

SteelPeak Wealth LLC raised its holdings in shares of AT&T Inc. (NYSE:T) by 13.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 420,030 shares of the technology company’s stock after acquiring an additional 50,969 shares during the quarter. SteelPeak Wealth LLC’s holdings in AT&T were worth $11,862,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Front Row Advisors LLC bought a new position in shares of AT&T during the second quarter valued at $25,000. O Brien Wealth Partners LLC bought a new stake in AT&T in the 2nd quarter worth about $26,000. Kennebec Savings Bank raised its position in AT&T by 412.1% in the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock worth $28,000 after buying an additional 783 shares during the last quarter. Solstein Capital LLC lifted its stake in AT&T by 217.3% during the 2nd quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock valued at $28,000 after acquiring an additional 652 shares during the period. Finally, Curio Wealth LLC boosted its holdings in shares of AT&T by 26,100.0% during the 2nd quarter. Curio Wealth LLC now owns 1,048 shares of the technology company’s stock valued at $30,000 after acquiring an additional 1,044 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on T. UBS Group reissued a “buy” rating on shares of AT&T in a report on Thursday, October 23rd. TD Cowen lifted their target price on shares of AT&T from $32.00 to $33.00 and gave the stock a “hold” rating in a research report on Thursday, October 23rd. Raymond James Financial reissued a “strong-buy” rating and set a $33.00 price target (up from $31.00) on shares of AT&T in a report on Thursday, September 18th. The Goldman Sachs Group cut their price objective on AT&T from $33.00 to $29.00 and set a “buy” rating for the company in a report on Friday, December 19th. Finally, Williams Trading set a $33.00 target price on AT&T in a report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.24.

AT&T Trading Up 0.3%

NYSE:T opened at $24.88 on Friday. AT&T Inc. has a one year low of $21.38 and a one year high of $29.79. The business has a fifty day moving average price of $25.01 and a 200-day moving average price of $26.93. The firm has a market capitalization of $176.39 billion, a price-to-earnings ratio of 8.08, a price-to-earnings-growth ratio of 1.45 and a beta of 0.39. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.01 and a quick ratio of 0.96.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, October 22nd. The technology company reported $0.54 EPS for the quarter, hitting the consensus estimate of $0.54. The firm had revenue of $30.71 billion for the quarter, compared to the consensus estimate of $30.85 billion. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.60 earnings per share. Sell-side analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 12th will be issued a dividend of $0.2775 per share. The ex-dividend date of this dividend is Monday, January 12th. This represents a $1.11 annualized dividend and a yield of 4.5%. AT&T’s payout ratio is currently 36.04%.

AT&T Profile

AT&T Inc is a global telecommunications company that provides a broad range of communications and digital entertainment services. Its core activities include consumer and business wireless services, broadband and fiber internet, and network infrastructure. The company operates branded wireless services through AT&T Mobility and deploys fixed-line and fiber networks to deliver high-speed internet and related home services.

AT&T’s product and service portfolio spans mobile voice and data plans, smartphones and device sales, home internet (including fiber-to-the-home where available), and managed connectivity solutions for enterprise customers.