AT&T (NYSE:T) Trading Down 1.2%

AT&T Inc. (NYSE:T)’s share price traded down 1.2% on Tuesday . The stock traded as low as $21.86 and last traded at $22.00. 5,615,858 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 36,032,824 shares. The stock had previously closed at $22.27.

Wall Street Analyst Weigh In

T has been the subject of a number of recent research reports. Citigroup boosted their target price on AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. BNP Paribas raised AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 11th. Royal Bank of Canada raised their target price on shares of AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25th. Barclays upped their price target on shares of AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Finally, JPMorgan Chase & Co. raised their price target on shares of AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $22.31.

AT&T Trading Down 2.4 %

The stock’s fifty day moving average price is $19.66 and its 200 day moving average price is $18.22. The stock has a market cap of $155.81 billion, a P/E ratio of 11.83, 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.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, hitting the consensus estimate of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The business 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 earnings per share. AT&T’s quarterly revenue was down .3% on a year-over-year basis. Equities research analysts expect that AT&T Inc. will post 2.2 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 5.11%. The ex-dividend date was Wednesday, July 10th. AT&T’s payout ratio is 59.68%.

Institutional Trading of AT&T

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Riggs Asset Managment Co. Inc. boosted its position in shares of AT&T by 356.5% during the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after buying an additional 1,116 shares during the last quarter. Pineridge Advisors LLC bought a new position in AT&T during the 4th quarter valued at about $25,000. Frank Rimerman Advisors LLC purchased a new stake in shares of AT&T during the 4th quarter valued at about $25,000. American Capital Advisory LLC grew its stake in shares of AT&T by 107.5% in the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after acquiring an additional 807 shares during the period. Finally, Altshuler Shaham Ltd purchased a new position in shares of AT&T during the second quarter valued at approximately $30,000. 57.10% of the stock is currently 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.