SteelPeak Wealth LLC Has $10.68 Million Holdings in AT&T Inc. $T

SteelPeak Wealth LLC lessened its stake in AT&T Inc. (NYSE:T) by 11.2% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 369,061 shares of the technology company’s stock after selling 46,334 shares during the quarter. SteelPeak Wealth LLC’s holdings in AT&T were worth $10,681,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Stone House Investment Management LLC bought a new stake in AT&T in the 1st quarter valued at $25,000. O Brien Wealth Partners LLC bought a new stake in AT&T in the 2nd quarter valued at $26,000. Hager Investment Management Services LLC raised its stake in AT&T by 182.1% in the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock valued at $28,000 after acquiring an additional 641 shares during the period. Kennebec Savings Bank raised its stake in AT&T by 412.1% in the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after acquiring an additional 783 shares during the period. Finally, Core Alternative Capital raised its stake in AT&T by 125.4% in the 1st quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock valued at $29,000 after acquiring an additional 568 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Down 4.4%

Shares of NYSE T opened at $25.88 on Tuesday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81. AT&T Inc. has a 52 week low of $21.05 and a 52 week high of $29.79. The stock has a market capitalization of $185.05 billion, a P/E ratio of 14.70, a PEG ratio of 3.46 and a beta of 0.42. The stock’s fifty day moving average is $28.56 and its 200 day moving average is $27.92.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The company had revenue of $30.85 billion for the quarter, compared to analysts’ expectations of $30.44 billion. During the same quarter last year, the business earned $0.51 earnings per share. AT&T’s revenue was up 3.4% on a year-over-year basis. Sell-side analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be given a $0.2775 dividend. The ex-dividend date is Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.3%. AT&T’s dividend payout ratio (DPR) is presently 63.07%.

Wall Street Analysts Forecast Growth

T has been the topic of a number of research analyst reports. Barclays restated an “equal weight” rating and issued a $30.00 price target on shares of AT&T in a research note on Wednesday, October 1st. Citigroup restated a “buy” rating on shares of AT&T in a research note on Tuesday, August 26th. HSBC cut AT&T from a “buy” rating to a “hold” rating and set a $30.00 price target on the stock. in a research note on Thursday, July 24th. Bank of America began coverage on AT&T in a research report on Monday, July 7th. They set a “buy” rating and a $32.00 price objective on the stock. Finally, Scotiabank set a $30.25 price objective on AT&T and gave the stock a “sector perform” rating in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $30.75.

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.