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) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 modified their holdings of the stock. Ameriprise Financial Inc. grew its position in AT&T by 185.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 52,613,513 shares of the technology company’s stock worth $790,301,000 after purchasing an additional 34,189,954 shares in the last quarter. FMR LLC grew its holdings in shares of AT&T by 130.5% in the third quarter. FMR LLC now owns 57,515,546 shares of the technology company’s stock valued at $863,884,000 after acquiring an additional 32,558,342 shares in the last quarter. California Public Employees Retirement System increased its position in shares of AT&T by 38.0% during the third quarter. California Public Employees Retirement System now owns 34,558,594 shares of the technology company’s stock valued at $519,070,000 after acquiring an additional 9,518,478 shares during the last quarter. Barclays PLC lifted its holdings in AT&T by 30.6% during the third quarter. Barclays PLC now owns 26,227,124 shares of the technology company’s stock worth $393,931,000 after acquiring an additional 6,137,909 shares during the period. Finally, AQR Capital Management LLC boosted its position in AT&T by 43.0% in the third quarter. AQR Capital Management LLC now owns 14,739,648 shares of the technology company’s stock worth $221,242,000 after purchasing an additional 4,432,136 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on T shares. Barclays raised AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 target price for the company in a research report on Monday. Scotiabank lifted their price objective on shares of AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a research report on Thursday, April 25th. JPMorgan Chase & Co. upgraded shares of AT&T from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $18.00 to $21.00 in a research note on Thursday, February 1st. Tigress Financial lifted their price objective on shares of AT&T from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Finally, Wolfe Research upgraded shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research note on Tuesday, March 5th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.81.

AT&T Trading Down 0.6 %

Shares of T traded down $0.10 during trading hours on Tuesday, hitting $16.92. The company had a trading volume of 7,039,873 shares, compared to its average volume of 39,066,129. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06. AT&T Inc. has a 52-week low of $13.43 and a 52-week high of $18.16. The firm has a market cap of $121.03 billion, a P/E ratio of 9.12, a P/E/G ratio of 3.32 and a beta of 0.57. The stock’s 50 day moving average price is $16.97 and its 200 day moving average price is $16.60.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $30.62 billion. During the same quarter in the previous year, the business posted $0.60 earnings per share. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. On average, research analysts predict that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be paid a $0.2775 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $1.11 annualized dividend and a dividend yield of 6.56%. AT&T’s dividend payout ratio is presently 59.68%.

About AT&T

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.