AT&T (NYSE:T) Shares Down 0.1%

AT&T Inc. (NYSE:TGet Free Report)’s stock price dropped 0.1% on Wednesday . The company traded as low as $17.72 and last traded at $17.85. Approximately 7,083,073 shares were traded during trading, a decline of 81% from the average daily volume of 36,622,160 shares. The stock had previously closed at $17.86.

Analyst Upgrades and Downgrades

T has been the topic of a number of recent analyst reports. Wolfe Research raised shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a research note on Tuesday, March 5th. StockNews.com cut shares of AT&T from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $17.00 price objective on shares of AT&T in a research report on Thursday, April 11th. Scotiabank boosted 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. Finally, BNP Paribas upgraded shares of AT&T from an “underperform” rating to a “neutral” rating in a research report on Tuesday. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and an average target price of $21.32.

Get Our Latest Report on AT&T

AT&T Stock Performance

The company has a market capitalization of $126.19 billion, a PE ratio of 9.60, a price-to-earnings-growth ratio of 3.51 and a beta of 0.60. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.63 and a current ratio of 0.68. The stock’s fifty day simple moving average is $17.18 and its 200-day simple moving average is $17.03.

AT&T (NYSE:TGet Free Report) last released its earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The company had revenue of $30.03 billion for the quarter, compared to analyst estimates of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.60 EPS. As a group, equities analysts predict that AT&T Inc. will post 2.24 earnings per share for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th were issued a dividend of $0.2775 per share. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $1.11 annualized dividend and a dividend yield of 6.31%. AT&T’s payout ratio is currently 59.68%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Sora Investors LLC purchased a new position in shares of AT&T during the 3rd quarter worth about $11,265,000. Cantor Fitzgerald Investment Advisors L.P. acquired a new stake in AT&T during the 4th quarter worth approximately $11,554,000. Provence Wealth Management Group increased its position in AT&T by 55.8% during the 4th quarter. Provence Wealth Management Group now owns 16,217 shares of the technology company’s stock worth $272,000 after purchasing an additional 5,807 shares in the last quarter. Checchi Capital Advisers LLC increased its position in AT&T by 3.1% during the 3rd quarter. Checchi Capital Advisers LLC now owns 38,929 shares of the technology company’s stock worth $585,000 after purchasing an additional 1,178 shares in the last quarter. Finally, Clearbridge Investments LLC increased its position in AT&T by 250.3% during the 4th quarter. Clearbridge Investments LLC now owns 67,303 shares of the technology company’s stock worth $1,129,000 after purchasing an additional 48,091 shares in the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Company Profile

(Get Free Report)

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.

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