SteelPeak Wealth LLC Sells 79,736 Shares of AT&T Inc. (NYSE:T)

SteelPeak Wealth LLC reduced its position in shares of AT&T Inc. (NYSE:T) by 14.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 474,042 shares of the technology company’s stock after selling 79,736 shares during the quarter. SteelPeak Wealth LLC’s holdings in AT&T were worth $10,794,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. International Assets Investment Management LLC bought a new stake in AT&T in the fourth quarter valued at about $14,700,000. Swiss National Bank grew its position in shares of AT&T by 0.5% during the 3rd quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock worth $468,217,000 after buying an additional 104,700 shares during the period. Franklin Resources Inc. increased its stake in shares of AT&T by 41.4% in the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock valued at $168,969,000 after acquiring an additional 2,326,904 shares during the last quarter. Caprock Group LLC raised its position in shares of AT&T by 18.3% in the 3rd quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock valued at $4,312,000 after acquiring an additional 30,281 shares during the period. Finally, Talbot Financial LLC bought a new position in AT&T during the 3rd quarter worth approximately $7,438,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Trading Up 1.2 %

AT&T stock opened at $24.43 on Wednesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. The firm has a 50-day moving average of $22.83 and a 200-day moving average of $21.51. The company has a market cap of $175.26 billion, a price-to-earnings ratio of 19.86, a P/E/G ratio of 3.50 and a beta of 0.59. AT&T Inc. has a one year low of $15.94 and a one year high of $24.58.

AT&T (NYSE:T) last issued its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 7.42%. On average, equities analysts expect that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid a $0.2775 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.54%. AT&T’s dividend payout ratio is presently 90.24%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Evercore ISI increased their target price on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. raised their price objective on AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Barclays boosted their target price on AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Scotiabank raised their price target on AT&T from $24.00 to $26.00 and gave the stock a “sector outperform” rating in a research report on Tuesday. Finally, New Street Research upgraded AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and a consensus price target of $26.06.

About AT&T

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.