SteelPeak Wealth LLC Decreases Stock Holdings in AT&T Inc. (NYSE:T)

SteelPeak Wealth LLC decreased its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 12.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 415,395 shares of the technology company's stock after selling 58,647 shares during the quarter. SteelPeak Wealth LLC's holdings in AT&T were worth $11,747,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC raised its stake in AT&T by 26.5% in the fourth quarter. Brighton Jones LLC now owns 48,579 shares of the technology company's stock worth $1,106,000 after buying an additional 10,188 shares in the last quarter. Proficio Capital Partners LLC boosted its holdings in AT&T by 39.7% in the fourth quarter. Proficio Capital Partners LLC now owns 28,782 shares of the technology company's stock worth $655,000 after purchasing an additional 8,179 shares during the last quarter. Inspire Advisors LLC purchased a new stake in AT&T in the fourth quarter worth approximately $280,000. Sequoia Financial Advisors LLC boosted its holdings in AT&T by 53.9% in the fourth quarter. Sequoia Financial Advisors LLC now owns 381,619 shares of the technology company's stock worth $8,689,000 after purchasing an additional 133,627 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of AT&T by 30.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 37,590 shares of the technology company's stock worth $856,000 after acquiring an additional 8,788 shares during the last quarter. Institutional investors own 57.10% of the company's stock.

AT&T Price Performance

Shares of T stock traded down $0.65 during trading hours on Friday, hitting $26.97. The stock had a trading volume of 42,637,282 shares, compared to its average volume of 36,516,853. AT&T Inc. has a one year low of $18.14 and a one year high of $29.19. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.70 and a quick ratio of 0.65. The stock's 50-day moving average price is $27.84 and its two-hundred day moving average price is $26.27. The stock has a market capitalization of $194.07 billion, a price-to-earnings ratio of 16.55, a PEG ratio of 3.45 and a beta of 0.42.

AT&T (NYSE:T - Get Free Report) last announced 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 firm had revenue of $30.63 billion during the quarter, compared to analysts' expectations of $30.39 billion. AT&T had a net margin of 9.64% and a return on equity of 13.63%. The firm's revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.55 EPS. Equities analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date of this dividend is Thursday, July 10th. AT&T's dividend payout ratio is presently 68.10%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on T shares. TD Securities lifted their price target on shares of AT&T from $29.00 to $30.00 and gave the stock a "hold" rating in a research note on Thursday, April 24th. Tigress Financial boosted their price objective on shares of AT&T from $32.00 to $34.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. UBS Group reiterated a "buy" rating and set a $31.00 price objective (up previously from $30.00) on shares of AT&T in a research note on Wednesday, June 18th. Williams Trading set a $30.00 price objective on shares of AT&T in a research note on Thursday, April 24th. Finally, Wall Street Zen upgraded shares of AT&T from a "hold" rating to a "buy" rating in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $29.12.

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.