AT&T (NYSE:T) Trading Down 0.4%

AT&T Inc. (NYSE:T)’s share price was down 0.4% on Tuesday . The stock traded as low as $21.83 and last traded at $21.92. Approximately 4,881,859 shares changed hands during trading, a decline of 86% from the average daily volume of 35,960,359 shares. The stock had previously closed at $22.00.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Moffett Nathanson boosted their target price on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Oppenheimer increased their price objective on shares of AT&T from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. BNP Paribas raised shares of AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. Tigress Financial increased their price target on shares of AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a report on Friday. Finally, Royal Bank of Canada increased their price objective on shares of AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 25th. One equities 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $22.38.

AT&T Price Performance

The firm has a market cap of $158.25 billion, a PE ratio of 11.78, a PEG ratio of 3.68 and a beta of 0.59. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. The business has a fifty day moving average of $20.21 and a 200-day moving average of $18.54.

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

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be issued a $0.2775 dividend. The ex-dividend date is Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.03%. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Institutional Trading of AT&T

Several institutional investors and hedge funds have recently bought and sold shares of T. Mercer Global Advisors Inc. ADV lifted its position in AT&T by 1,379.0% in the second quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock valued at $270,581,000 after buying an additional 13,201,774 shares during the last quarter. AQR Capital Management LLC increased its stake in AT&T by 43.3% in the second quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock valued at $414,563,000 after purchasing an additional 6,602,586 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of AT&T by 7.4% during the second quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock worth $1,549,375,000 after acquiring an additional 5,592,123 shares during the last quarter. Point72 Asset Management L.P. grew its position in shares of AT&T by 120.8% during the fourth quarter. Point72 Asset Management L.P. now owns 9,086,854 shares of the technology company’s stock worth $152,477,000 after acquiring an additional 4,970,954 shares during the last quarter. Finally, Thornburg Investment Management Inc. grew its position in AT&T by 22.0% in the 2nd quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock valued at $477,528,000 after buying an additional 4,511,725 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

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.