AT&T Inc. (T) to Issue Quarterly Dividend of $0.28 on November 1st

AT&T Inc. (NYSE:T) declared a quarterly dividend on Friday, September 27th, Wall Street Journal reports. Investors of record on Thursday, October 10th will be given a dividend of 0.2775 per share by the technology company on Friday, November 1st. This represents a $1.11 dividend on an annualized basis and a yield of 5.10%. The ex-dividend date is Thursday, October 10th.

AT&T has decreased its dividend by an average of 18.9% per year over the last three years. AT&T has a dividend payout ratio of 48.9% meaning its dividend is sufficiently covered by earnings. Analysts expect AT&T to earn $2.34 per share next year, which means the company should continue to be able to cover its $1.11 annual dividend with an expected future payout ratio of 47.4%.

AT&T Stock Performance

NYSE:T opened at $21.78 on Tuesday. AT&T has a 1 year low of $14.23 and a 1 year high of $22.34. The firm’s fifty day simple moving average is $20.47 and its 200 day simple moving average is $18.68. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $156.17 billion, a PE ratio of 11.71, a PEG ratio of 3.78 and a beta of 0.60.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.57. The company had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The business’s quarterly revenue was down .3% on a year-over-year basis. During the same period last year, the business posted $0.63 EPS. On average, sell-side analysts anticipate that AT&T will post 2.22 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on T shares. Daiwa America upgraded shares of AT&T to a “hold” rating in a research report on Friday, July 26th. Scotiabank downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a report on Monday, September 16th. Citigroup lifted their price target on shares of AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Finally, Oppenheimer lifted their price target on shares of AT&T from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.38.

About AT&T

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.