AT&T (NYSE:T) Trading Down 0%

AT&T Inc. (NYSE:T)’s stock price was down 0% during mid-day trading on Wednesday . The company traded as low as $21.72 and last traded at $21.77. Approximately 3,302,519 shares changed hands during trading, a decline of 91% from the average daily volume of 35,982,594 shares. The stock had previously closed at $21.78.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on T shares. Scotiabank cut AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Evercore ISI boosted their price objective on shares of AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a report on Thursday, July 25th. Citigroup lifted their price target on shares of AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Oppenheimer increased their price target on AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, Redburn Atlantic raised AT&T to a “strong sell” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, AT&T currently has a consensus rating of “Hold” and an average target price of $22.31.

AT&T Trading Up 0.5 %

The firm has a 50-day simple moving average of $19.72 and a 200-day simple moving average of $18.26. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. The stock has a market cap of $156.88 billion, a PE ratio of 11.70, a P/E/G ratio of 3.68 and a beta of 0.59.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting the consensus estimate of $0.57. The firm had revenue of $29.80 billion for the quarter, compared to analysts’ expectations of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The company’s revenue was down .3% on a year-over-year basis. During the same period in the prior year, the business posted $0.63 earnings per share. Equities analysts forecast that AT&T Inc. will post 2.2 earnings per share for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 5.07%. The ex-dividend date was Wednesday, July 10th. AT&T’s dividend payout ratio (DPR) is currently 59.68%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Cantor Fitzgerald Investment Advisors L.P. purchased a new position in shares of AT&T during the 4th quarter valued at about $11,554,000. Clearbridge Investments LLC lifted its holdings in shares of AT&T by 250.3% in the 4th quarter. Clearbridge Investments LLC now owns 67,303 shares of the technology company’s stock worth $1,129,000 after acquiring an additional 48,091 shares during the last quarter. Skopos Labs Inc. purchased a new stake in shares of AT&T in the 4th quarter valued at $839,000. Wealth Enhancement Advisory Services LLC raised its position in AT&T by 4.3% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 1,037,529 shares of the technology company’s stock worth $19,827,000 after purchasing an additional 43,062 shares during the period. Finally, M&G Plc purchased a new position in shares of AT&T in the first quarter worth about $9,074,000. Institutional investors own 57.10% of the company’s stock.

About AT&T

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.