AT&T Inc. (NYSE:T – Get Free Report) dropped 0.3% during trading on Tuesday . The company traded as low as $16.85 and last traded at $16.92. Approximately 9,529,059 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 38,020,871 shares. The stock had previously closed at $16.97.
Analysts Set New Price Targets
A number of analysts have recently commented on the company. Wells Fargo & Company lifted their target price on AT&T from $17.00 to $20.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 13th. StockNews.com downgraded shares of AT&T from a “buy” rating to a “hold” rating in a research note on Thursday, April 4th. Barclays boosted their price target on AT&T from $17.00 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 31st. Wolfe Research upgraded AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price target for the company in a research note on Tuesday, March 5th. Finally, Tigress Financial boosted their price objective on shares of AT&T from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $21.61.
AT&T Trading Down 2.0 %
The business’s 50-day moving average price is $17.20 and its two-hundred day moving average price is $16.42. The firm has a market cap of $120.88 billion, a price-to-earnings ratio of 8.63, a price-to-earnings-growth ratio of 2.63 and a beta of 0.57. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.71 and a quick ratio of 0.67.
AT&T (NYSE:T – Get Free Report) last issued its quarterly earnings results on Wednesday, January 24th. The technology company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). The business had revenue of $32 billion for the quarter, compared to analysts’ expectations of $31.44 billion. AT&T had a return on equity of 15.39% and a net margin of 11.76%. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.61 EPS. Equities analysts expect that AT&T Inc. will post 2.21 earnings per share for the current year.
AT&T Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 6.57%. The ex-dividend date of this dividend is Tuesday, April 9th. AT&T’s dividend payout ratio (DPR) is 56.63%.
Hedge Funds Weigh In On AT&T
A number of large investors have recently bought and sold shares of T. Vanguard Group Inc. lifted its position in AT&T by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 622,406,459 shares of the technology company’s stock valued at $10,443,980,000 after buying an additional 2,155,232 shares in the last quarter. State Street Corp lifted its holdings in shares of AT&T by 0.5% during the 1st quarter. State Street Corp now owns 287,304,512 shares of the technology company’s stock valued at $5,530,602,000 after acquiring an additional 1,567,008 shares in the last quarter. Newport Trust Company LLC increased its holdings in AT&T by 0.3% in the 3rd quarter. Newport Trust Company LLC now owns 199,998,040 shares of the technology company’s stock valued at $3,003,971,000 after purchasing an additional 673,043 shares in the last quarter. Morgan Stanley raised its position in AT&T by 37.3% in the fourth quarter. Morgan Stanley now owns 109,639,428 shares of the technology company’s stock valued at $2,018,462,000 after purchasing an additional 29,769,976 shares during the period. Finally, Moneta Group Investment Advisors LLC lifted its stake in shares of AT&T by 85,003.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 76,836,936 shares of the technology company’s stock worth $1,414,568,000 after purchasing an additional 76,746,649 shares in the last quarter. Hedge funds and other institutional investors 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.