AT&T (NYSE:T) Stock Price Down 0.3%

Shares of AT&T Inc. (NYSE:TGet Free Report) fell 0.3% on Monday . The stock traded as low as $17.49 and last traded at $17.58. 5,309,949 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 36,417,195 shares. The stock had previously closed at $17.64.

Wall Street Analyst Weigh In

T has been the topic of several recent analyst reports. StockNews.com cut shares of AT&T from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. Royal Bank of Canada restated a “sector perform” rating and issued a $17.00 price objective on shares of AT&T in a research report on Thursday, April 11th. Barclays upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 target price for the company in a report on Monday, April 29th. Wolfe Research upgraded AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a report on Tuesday, March 5th. Finally, BNP Paribas upgraded AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, AT&T presently has an average rating of “Moderate Buy” and an average target price of $21.32.

Check Out Our Latest Stock Report on AT&T

AT&T Stock Performance

The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06. The firm has a market cap of $126.70 billion, a P/E ratio of 9.45, a P/E/G ratio of 3.47 and a beta of 0.60. The business has a fifty day simple moving average of $17.18 and a 200-day simple moving average of $17.06.

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

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were paid a $0.2775 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $1.11 annualized dividend and a dividend yield of 6.28%. AT&T’s payout ratio is currently 59.68%.

Institutional Investors Weigh In On AT&T

A number of institutional investors have recently modified their holdings of the stock. Frank Rimerman Advisors LLC purchased a new stake in shares of AT&T during the fourth quarter valued at approximately $25,000. Pineridge Advisors LLC purchased a new stake in AT&T during the 4th quarter valued at $25,000. First Pacific Financial boosted its stake in AT&T by 166.7% during the 1st quarter. First Pacific Financial now owns 1,600 shares of the technology company’s stock valued at $28,000 after purchasing an additional 1,000 shares during the last quarter. Ramirez Asset Management Inc. bought a new stake in shares of AT&T in the 3rd quarter worth $30,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA lifted its holdings in shares of AT&T by 35.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock valued at $39,000 after purchasing an additional 606 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

About AT&T

(Get Free Report)

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.

Further Reading

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