AT&T (NYSE:T) Stock Price Down 1.7% – What’s Next?

AT&T Inc. (NYSE:T)’s share price was down 1.7% during trading on Wednesday . The company traded as low as $24.89 and last traded at $25.57. Approximately 23,774,010 shares changed hands during mid-day trading, a decline of 43% from the average daily volume of 41,383,641 shares. The stock had previously closed at $26.01.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. raised their target price on AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Morgan Stanley upgraded AT&T from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $19.00 to $28.00 in a report on Monday, December 16th. Scotiabank lifted their target price on AT&T from $26.00 to $28.50 and gave the stock a “sector outperform” rating in a research report on Monday, March 3rd. Tigress Financial lifted their target price on AT&T from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Finally, Barclays lifted their target price on AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $26.74.

AT&T Stock Up 0.4 %

The business has a 50-day moving average price of $24.59 and a 200-day moving average price of $22.98. The company has a market capitalization of $187.98 billion, a price-to-earnings ratio of 17.61, a price-to-earnings-growth ratio of 3.00 and a beta of 0.56. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00.

AT&T (NYSE:T) last issued its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. As a group, equities analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of T. Norges Bank purchased a new position in AT&T in the fourth quarter valued at about $1,858,418,000. GQG Partners LLC boosted its stake in shares of AT&T by 37.3% during the 4th quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock worth $2,203,667,000 after acquiring an additional 26,280,866 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of AT&T by 31.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company’s stock worth $1,216,665,000 after acquiring an additional 12,881,578 shares in the last quarter. Northern Trust Corp boosted its stake in shares of AT&T by 16.3% during the 4th quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company’s stock worth $1,779,438,000 after acquiring an additional 10,945,679 shares in the last quarter. Finally, Assetmark Inc. boosted its stake in shares of AT&T by 4,986.1% during the 4th quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company’s stock worth $225,741,000 after acquiring an additional 9,719,036 shares in the last quarter. Hedge funds and other institutional investors 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.