AT&T Inc. (NYSE:T – Get Free Report) shares were down 0.5% during trading on Thursday . The stock traded as low as $22.09 and last traded at $22.09. Approximately 10,170,934 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 35,938,863 shares. The stock had previously closed at $22.19.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on T shares. Moffett Nathanson lifted their price target on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. UBS Group reissued a “buy” rating and set a $24.00 price target on shares of AT&T in a research report on Tuesday, June 18th. Evercore ISI raised their price objective on AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. lifted their price objective on AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Finally, Royal Bank of Canada increased their target price on shares of AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $22.38.
AT&T Trading Down 0.5 %
The firm’s 50-day simple moving average is $20.35 and its 200 day simple moving average is $18.60. The stock has a market cap of $158.25 billion, a P/E ratio of 11.86, a PEG ratio of 3.75 and a beta of 0.59. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05.
AT&T (NYSE:T – Get Free Report) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, hitting analysts’ consensus estimates of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The company had revenue of $29.80 billion for the quarter, compared to the consensus estimate of $30.05 billion. During the same period in the previous year, the firm earned $0.63 EPS. AT&T’s revenue was down .3% on a year-over-year basis. As a group, equities research analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current year.
AT&T Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 5.03%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s payout ratio is 59.68%.
Institutional Investors Weigh In On AT&T
Institutional investors and hedge funds have recently bought and sold shares of the business. VERITY Wealth Advisors purchased a new stake in AT&T during the third quarter valued at about $219,000. Czech National Bank lifted its stake in AT&T by 6.9% during the third quarter. Czech National Bank now owns 1,460,655 shares of the technology company’s stock valued at $32,134,000 after buying an additional 94,312 shares in the last quarter. AMF Tjanstepension AB lifted its stake in AT&T by 305.1% during the third quarter. AMF Tjanstepension AB now owns 1,541,724 shares of the technology company’s stock valued at $33,918,000 after buying an additional 1,161,152 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in AT&T by 19.3% during the third quarter. Massmutual Trust Co. FSB ADV now owns 38,959 shares of the technology company’s stock valued at $857,000 after buying an additional 6,314 shares in the last quarter. Finally, Abacus Planning Group Inc. lifted its stake in AT&T by 34.8% during the third quarter. Abacus Planning Group Inc. now owns 26,266 shares of the technology company’s stock valued at $578,000 after buying an additional 6,784 shares in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.
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.