AT&T Inc. (NYSE:T – Get Free Report)’s stock price dropped 0.3% on Monday . The company traded as low as $21.74 and last traded at $21.78. Approximately 6,843,832 shares were traded during trading, a decline of 81% from the average daily volume of 35,391,992 shares. The stock had previously closed at $21.85.
Wall Street Analysts Forecast Growth
T has been the topic of a number of research reports. TD Cowen increased their target price on shares of AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Royal Bank of Canada upped their price target 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. JPMorgan Chase & Co. upped their price target on shares of AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Scotiabank lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, Evercore ISI upped their price target on shares of AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.69.
AT&T Stock Down 0.8 %
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 company has a market capitalization of $155.38 billion, a PE ratio of 11.65, a price-to-earnings-growth ratio of 3.63 and a beta of 0.60. The business’s 50 day simple moving average is $20.95 and its 200 day simple moving average is $18.98.
AT&T (NYSE:T – Get Free Report) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, meeting 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 during the quarter, compared to analyst estimates of $30.05 billion. During the same period in the prior year, the firm earned $0.63 earnings per share. The business’s quarterly revenue was down .3% on a year-over-year basis. As a group, analysts forecast that AT&T Inc. will post 2.22 EPS for the current year.
AT&T Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.12%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is 59.68%.
Hedge Funds Weigh In On AT&T
A number of hedge funds have recently added to or reduced their stakes in T. Vanguard Group Inc. grew its holdings in AT&T by 0.4% during the first quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock valued at $10,999,912,000 after purchasing an additional 2,588,539 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in AT&T by 7.4% during the second quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock valued at $1,549,375,000 after purchasing an additional 5,592,123 shares during the last quarter. Legal & General Group Plc grew its holdings in AT&T by 2.7% during the second quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock valued at $1,148,689,000 after purchasing an additional 1,569,374 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in AT&T by 2.0% during the second quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock valued at $985,307,000 after purchasing an additional 1,007,228 shares during the last quarter. Finally, LSV Asset Management grew its holdings in AT&T by 1.1% during the second quarter. LSV Asset Management now owns 30,092,610 shares of the technology company’s stock valued at $575,070,000 after purchasing an additional 315,580 shares during the last quarter. 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.