AT&T (NYSE:T) Trading Down 0.5%

AT&T Inc. (NYSE:T)’s stock price was down 0.5% during trading on Thursday . The company traded as low as $19.13 and last traded at $19.15. Approximately 9,422,191 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 36,542,578 shares. The stock had previously closed at $19.25.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on T. BNP Paribas upgraded AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. UBS Group reaffirmed a “buy” rating and set a $24.00 price target on shares of AT&T in a research note on Tuesday, June 18th. TD Cowen boosted 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. Oppenheimer lifted their price target on AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, Scotiabank upped their price objective on AT&T from $23.00 to $24.00 and gave the company a “sector outperform” rating in a research report on Thursday, July 25th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and an average target price of $22.33.

AT&T Stock Up 1.6 %

The firm has a market capitalization of $140.18 billion, a PE ratio of 10.40, a PEG ratio of 3.20 and a beta of 0.58. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. The company has a fifty day simple moving average of $18.42 and a two-hundred day simple moving average of $17.52.

AT&T (NYSE:T) last posted its earnings results 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 business had revenue of $29.80 billion for the quarter, compared to the consensus estimate of $30.05 billion. During the same quarter last year, the firm posted $0.63 EPS. The company’s revenue for the quarter was down .3% on a year-over-year basis. Analysts forecast that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.68%. The ex-dividend date is Wednesday, July 10th. AT&T’s payout ratio is currently 59.68%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in T. Stonegate Investment Group LLC raised its stake in shares of AT&T by 6.3% during the 4th quarter. Stonegate Investment Group LLC now owns 51,997 shares of the technology company’s stock valued at $873,000 after buying an additional 3,059 shares during the last quarter. DAVENPORT & Co LLC increased its holdings in AT&T by 2.0% in the fourth quarter. DAVENPORT & Co LLC now owns 333,954 shares of the technology company’s stock valued at $5,604,000 after buying an additional 6,606 shares in the last quarter. Venturi Wealth Management LLC raised its position in shares of AT&T by 22.9% in the fourth quarter. Venturi Wealth Management LLC now owns 7,685 shares of the technology company’s stock worth $129,000 after acquiring an additional 1,432 shares during the period. Trust Point Inc. acquired a new position in shares of AT&T in the fourth quarter worth about $1,080,000. Finally, Ballentine Partners LLC grew its position in shares of AT&T by 50.9% during the 4th quarter. Ballentine Partners LLC now owns 79,621 shares of the technology company’s stock valued at $1,336,000 after acquiring an additional 26,849 shares during the period. 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.