AT&T (NYSE:T) Shares Down 1.5%

AT&T Inc. (NYSE:T)’s stock price was down 1.5% during mid-day trading on Thursday . The stock traded as low as $21.18 and last traded at $21.40. Approximately 9,078,158 shares traded hands during trading, a decline of 75% from the average daily volume of 35,969,438 shares. The stock had previously closed at $21.73.

Analysts Set New Price Targets

A number of research firms have issued reports on T. Daiwa America upgraded shares of AT&T to a “hold” rating in a research report on Friday, July 26th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, June 28th. The Goldman Sachs Group started coverage on shares of AT&T in a report on Monday, July 1st. They set a “buy” rating and a $22.00 price objective for the company. BNP Paribas upgraded shares of AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. Finally, Citigroup lifted their price objective on AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, AT&T presently has an average rating of “Hold” and an average price target of $22.31.

AT&T Stock Up 0.7 %

The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. The firm has a market cap of $154.30 billion, a P/E ratio of 11.57, a P/E/G ratio of 3.79 and a beta of 0.59. The business has a fifty day moving average of $19.88 and a 200 day moving average of $18.34.

AT&T (NYSE:T) last released its earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, meeting the consensus estimate of $0.57. The firm had revenue of $29.80 billion for the quarter, compared to analysts’ expectations of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The business’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.63 EPS. On average, equities research analysts predict that AT&T Inc. will post 2.2 EPS for the current year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were issued a $0.2775 dividend. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $1.11 annualized dividend and a yield of 5.16%. AT&T’s dividend payout ratio is currently 59.68%.

Hedge Funds Weigh In On AT&T

Several hedge funds have recently bought and sold shares of the company. Cantor Fitzgerald Investment Advisors L.P. bought a new stake in shares of AT&T during the 4th quarter worth $11,554,000. Clearbridge Investments LLC raised its position in AT&T by 250.3% in the fourth quarter. Clearbridge Investments LLC now owns 67,303 shares of the technology company’s stock valued at $1,129,000 after purchasing an additional 48,091 shares during the last quarter. Skopos Labs Inc. bought a new stake in shares of AT&T during the fourth quarter worth about $839,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of AT&T by 4.3% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 1,037,529 shares of the technology company’s stock valued at $19,827,000 after buying an additional 43,062 shares during the period. Finally, M&G Plc bought a new position in AT&T in the 1st quarter valued at approximately $9,074,000. 57.10% of the stock is owned by institutional investors.

AT&T Company 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.