AT&T (NYSE:T) Shares Down 0.1% – What’s Next?

AT&T Inc. (NYSE:T) traded down 0.1% during mid-day trading on Thursday . The company traded as low as $23.78 and last traded at $24.20. 15,126,338 shares traded hands during trading, a decline of 60% from the average session volume of 37,706,027 shares. The stock had previously closed at $24.23.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Scotiabank lifted their price target on AT&T from $24.00 to $26.00 and gave the company a “sector outperform” rating in a research report on Tuesday. Citigroup lifted their target price on AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. New Street Research raised shares of AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. Royal Bank of Canada boosted their target price on shares of AT&T from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, UBS Group raised their target price on shares of AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.11.

AT&T Stock Down 1.2 %

The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.67. The business has a 50 day simple moving average of $22.92 and a 200 day simple moving average of $21.62. The stock has a market cap of $170.34 billion, a PE ratio of 15.93, a P/E/G ratio of 2.81 and a beta of 0.59.

AT&T (NYSE:T) last announced its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. On average, equities research analysts forecast that AT&T Inc. will post 2.12 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.68%. AT&T’s payout ratio is currently 74.50%.

Institutional Trading of AT&T

A number of hedge funds have recently modified their holdings of T. Legacy Investment Solutions LLC acquired a new stake in shares of AT&T in the 3rd quarter valued at $25,000. Ritter Daniher Financial Advisory LLC DE raised its stake in shares of AT&T by 169.2% in the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after acquiring an additional 841 shares during the last quarter. YANKCOM Partnership acquired a new position in shares of AT&T in the 4th quarter worth approximately $30,000. Endeavor Private Wealth Inc. bought a new stake in AT&T during the 4th quarter worth approximately $34,000. Finally, Reston Wealth Management LLC acquired a new stake in AT&T during the 3rd quarter valued at $35,000. Institutional investors own 57.10% of the company’s stock.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.