Steele Capital Management Inc. Purchases Shares of 14,459 AT&T Inc. (NYSE:T)

Steele Capital Management Inc. acquired a new position in shares of AT&T Inc. (NYSE:T) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 14,459 shares of the technology company’s stock, valued at approximately $243,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Farmers & Merchants Trust Co of Chambersburg PA lifted its holdings in AT&T by 35.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock worth $39,000 after buying an additional 606 shares during the period. JB Capital LLC grew its position in AT&T by 2.4% in the 4th quarter. JB Capital LLC now owns 26,620 shares of the technology company’s stock worth $447,000 after purchasing an additional 614 shares during the period. Adell Harriman & Carpenter Inc. lifted its holdings in shares of AT&T by 0.6% during the 4th quarter. Adell Harriman & Carpenter Inc. now owns 111,852 shares of the technology company’s stock valued at $1,877,000 after buying an additional 630 shares during the period. Schubert & Co boosted its stake in shares of AT&T by 2.0% in the 3rd quarter. Schubert & Co now owns 32,333 shares of the technology company’s stock worth $486,000 after buying an additional 631 shares during the last quarter. Finally, MBM Wealth Consultants LLC grew its holdings in shares of AT&T by 4.5% in the fourth quarter. MBM Wealth Consultants LLC now owns 15,637 shares of the technology company’s stock worth $270,000 after acquiring an additional 678 shares during the period. 57.10% of the stock is owned by institutional investors.

AT&T Trading Down 0.6 %

T stock traded down $0.10 during midday trading on Tuesday, hitting $16.92. 7,039,873 shares of the company’s stock were exchanged, compared to its average volume of 39,066,129. AT&T Inc. has a 1-year low of $13.43 and a 1-year high of $18.16. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $121.03 billion, a PE ratio of 9.12, a P/E/G ratio of 3.32 and a beta of 0.57. The business has a 50-day simple moving average of $16.97 and a two-hundred day simple moving average of $16.60.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The business had revenue of $30.03 billion during the quarter, compared to analysts’ expectations of $30.62 billion. During the same period last year, the business earned $0.60 earnings per share. The business’s revenue for the quarter was down .4% on a year-over-year basis. On average, sell-side analysts predict that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be paid a dividend of $0.2775 per share. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a yield of 6.56%. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Analyst Ratings Changes

T has been the subject of a number of analyst reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $17.00 price objective on shares of AT&T in a research note on Thursday, April 11th. Tigress Financial upped their price target on shares of AT&T from $28.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Oppenheimer raised shares of AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research report on Friday, January 19th. TheStreet raised shares of AT&T from a “c” rating to a “b-” rating in a research report on Wednesday, January 24th. Finally, Wolfe Research upgraded shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a research note on Tuesday, March 5th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and an average price target of $20.81.

AT&T Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.