AT&T (NYSE:T) Shares Down 0.2% – Here’s Why

Shares of AT&T Inc. (NYSE:T) traded down 0.2% during trading on Monday . The company traded as low as $26.84 and last traded at $26.98. 6,287,532 shares were traded during trading, a decline of 82% from the average session volume of 34,216,116 shares. The stock had previously closed at $27.02.

Analyst Upgrades and Downgrades

T has been the topic of several research reports. Citigroup upped their price target on AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Oppenheimer started coverage on shares of AT&T in a report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 target price for the company. Sanford C. Bernstein upped their price target on shares of AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Royal Bank of Canada lifted their price objective on shares of AT&T from $27.00 to $28.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 19th. Finally, DZ Bank upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, AT&T currently has an average rating of “Moderate Buy” and a consensus price target of $26.79.

AT&T Price Performance

The company’s 50-day simple moving average is $25.13 and its 200 day simple moving average is $23.32. The company has a market capitalization of $193.85 billion, a P/E ratio of 18.13, a P/E/G ratio of 3.00 and a beta of 0.56. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00.

AT&T (NYSE:T) last released its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. As a group, sell-side analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AT&T

A number of large investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of AT&T in the fourth quarter valued at about $1,858,418,000. GQG Partners LLC boosted its stake in AT&T by 37.3% during the 4th quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock valued at $2,203,667,000 after purchasing an additional 26,280,866 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in AT&T by 31.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company’s stock valued at $1,216,665,000 after buying an additional 12,881,578 shares during the last quarter. Northern Trust Corp increased its position in AT&T by 16.3% in the 4th quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company’s stock worth $1,779,438,000 after buying an additional 10,945,679 shares during the period. Finally, Assetmark Inc. lifted its holdings in shares of AT&T by 4,986.1% during the fourth quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company’s stock worth $225,741,000 after buying an additional 9,719,036 shares during the last quarter. 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.