AT&T (NYSE:T) Stock Price Down 0.1% – Here’s What Happened

AT&T Inc. (NYSE:T) shares were down 0.1% during mid-day trading on Thursday . The stock traded as low as $23.78 and last traded at $24.20. Approximately 15,126,338 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 37,706,027 shares. The stock had previously closed at $24.23.

Analyst Ratings Changes

T has been the topic of a number of recent research reports. Royal Bank of Canada lifted their target price on AT&T from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Tuesday. UBS Group boosted their price objective on shares of AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Evercore ISI raised their target price on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research report on Thursday, October 24th. Morgan Stanley raised shares of AT&T from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $19.00 to $28.00 in a research report on Monday, December 16th. Finally, Citigroup lifted their target price on AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $26.11.

AT&T Trading Down 0.8 %

The company has a market cap of $172.46 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 3.50 and a beta of 0.59. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The business’s 50 day moving average price is $22.89 and its 200-day moving average price is $21.57.

AT&T (NYSE:T) last issued its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 7.42% and a return on equity of 13.97%. On average, equities analysts anticipate that AT&T Inc. will post 2.21 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.62%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s dividend payout ratio is 74.50%.

Institutional Investors Weigh In On AT&T

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Legacy Investment Solutions LLC bought a new stake in AT&T during the third quarter worth about $25,000. Ritter Daniher Financial Advisory LLC DE increased its stake in shares of AT&T by 169.2% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after purchasing an additional 841 shares during the last quarter. YANKCOM Partnership acquired a new position in shares of AT&T during the 4th quarter worth $30,000. Endeavor Private Wealth Inc. acquired a new stake in AT&T in the fourth quarter valued at about $34,000. Finally, Reston Wealth Management LLC bought a new position in AT&T in the third quarter valued at about $35,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Company Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.