AT&T (NYSE:T) Trading Down 0.7%

AT&T Inc. (NYSE:T)’s share price was down 0.7% on Thursday . The company traded as low as $18.66 and last traded at $18.68. Approximately 19,462,997 shares changed hands during mid-day trading, a decline of 41% from the average daily volume of 33,098,884 shares. The stock had previously closed at $18.82.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Scotiabank lifted their price target on shares of AT&T from $22.00 to $22.50 and gave the company a “sector outperform” rating in a research note on Thursday, April 25th. StockNews.com lowered AT&T from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. UBS Group reaffirmed a “buy” rating and set a $24.00 price target on shares of AT&T in a research report on Tuesday, June 18th. Barclays upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price objective on the stock in a research note on Monday, April 29th. Finally, BNP Paribas raised AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $21.73.

AT&T Stock Up 0.5 %

The firm has a market cap of $134.58 billion, a price-to-earnings ratio of 10.09, a P/E/G ratio of 4.24 and a beta of 0.58. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.63. The stock has a 50-day moving average of $17.79 and a 200-day moving average of $17.25.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The business had revenue of $30.03 billion during the quarter, compared to the consensus estimate of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. AT&T’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.60 earnings per share. Sell-side analysts predict that AT&T Inc. will post 2.24 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 5.91%. The ex-dividend date is Wednesday, July 10th. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Institutional Trading of AT&T

A number of hedge funds have recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in AT&T in the fourth quarter valued at approximately $1,118,288,000. Thornburg Investment Management Inc. bought a new stake in AT&T in the fourth quarter worth approximately $316,472,000. Kodai Capital Management LP acquired a new position in AT&T in the fourth quarter valued at approximately $152,109,000. Point72 Asset Management L.P. boosted its holdings in shares of AT&T by 120.8% during the 4th quarter. Point72 Asset Management L.P. now owns 9,086,854 shares of the technology company’s stock worth $152,477,000 after buying an additional 4,970,954 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of AT&T by 5.6% during the 1st quarter. Bank of New York Mellon Corp now owns 75,484,518 shares of the technology company’s stock worth $1,328,528,000 after buying an additional 4,014,873 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

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.