Steele Capital Management Inc. Has $434,000 Stake in AT&T Inc. (NYSE:T)

Steele Capital Management Inc. grew its holdings in shares of AT&T Inc. (NYSE:T) by 3.1% in the 1st quarter, Holdings Channel reports. The fund owned 15,331 shares of the technology company’s stock after buying an additional 454 shares during the period. Steele Capital Management Inc.’s holdings in AT&T were worth $434,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of T. Norges Bank acquired a new position in AT&T during the fourth quarter worth about $1,858,418,000. GQG Partners LLC raised its stake in AT&T by 37.3% during the fourth quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock worth $2,203,667,000 after acquiring an additional 26,280,866 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in AT&T by 31.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company’s stock worth $1,216,665,000 after acquiring an additional 12,881,578 shares in the last quarter. Northern Trust Corp raised its stake in AT&T by 16.3% during the fourth quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company’s stock worth $1,779,438,000 after acquiring an additional 10,945,679 shares in the last quarter. Finally, Assetmark Inc. raised its stake in AT&T by 4,986.1% during the fourth quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company’s stock worth $225,741,000 after acquiring an additional 9,719,036 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

T has been the subject of several research analyst reports. Williams Trading set a $30.00 target price on AT&T in a research note on Thursday, April 24th. Wall Street Zen raised AT&T from a “hold” rating to a “buy” rating in a research note on Friday, April 25th. Oppenheimer upped their price objective on AT&T from $27.00 to $32.00 and gave the company an “outperform” rating in a research note on Tuesday, April 1st. Scotiabank reaffirmed an “outperform” rating on shares of AT&T in a research note on Thursday, April 24th. Finally, Evercore ISI upped their price objective on AT&T from $25.00 to $27.00 and gave the company an “in-line” rating in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, AT&T currently has an average rating of “Moderate Buy” and a consensus target price of $28.71.

AT&T Stock Performance

NYSE:T opened at $28.13 on Friday. The company has a market capitalization of $202.43 billion, a PE ratio of 18.88, a P/E/G ratio of 3.00 and a beta of 0.41. The company has a 50 day simple moving average of $27.41 and a two-hundred day simple moving average of $25.63. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. AT&T Inc. has a fifty-two week low of $17.49 and a fifty-two week high of $29.03.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The business had revenue of $30.63 billion for the quarter, compared to the consensus estimate of $30.39 billion. AT&T had a return on equity of 13.97% and a net margin of 8.95%. AT&T’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.55 earnings per share. Research analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date was Thursday, April 10th. AT&T’s payout ratio is 68.10%.

AT&T Company 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.