AT&T (NYSE:T) Downgraded to “Hold” at Scotiabank

Scotiabank cut shares of AT&T (NYSE:T) from a strong-buy rating to a hold rating in a research note issued to investors on Tuesday morning, Zacks.com reports.

A number of other analysts have also weighed in on the stock. Oppenheimer raised their price objective on shares of AT&T from $21.00 to $23.00 and gave the company an outperform rating in a research note on Thursday, July 25th. Evercore ISI lifted their price target on shares of AT&T from $18.00 to $19.00 and gave the stock an in-line rating in a research note on Thursday, July 25th. The Goldman Sachs Group started coverage on shares of AT&T in a research note on Monday, July 1st. They issued a buy rating and a $22.00 price target for the company. Deutsche Bank Aktiengesellschaft boosted their target price on shares of AT&T from $24.00 to $26.00 and gave the company a buy rating in a research report on Friday, June 28th. Finally, TD Cowen boosted their target price on shares of AT&T from $21.00 to $23.00 and gave the company a hold rating in a research report on Thursday, July 25th. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, AT&T currently has an average rating of Moderate Buy and an average price target of $22.33.

AT&T Trading Up 0.5 %

Shares of NYSE:T traded up $0.09 on Tuesday, hitting $19.49. The company had a trading volume of 22,819,613 shares, compared to its average volume of 39,708,528. AT&T has a 1 year low of $13.92 and a 1 year high of $19.99. The firm has a market capitalization of $139.75 billion, a price-to-earnings ratio of 10.48, a P/E/G ratio of 3.23 and a beta of 0.58. The firm’s 50-day simple moving average is $18.66 and its two-hundred day simple moving average is $17.65. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05.

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

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 5.70%. The ex-dividend date of this dividend was Wednesday, July 10th. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Institutional Investors Weigh In On AT&T

A number of hedge funds have recently bought and sold shares of T. Octavia Wealth Advisors LLC boosted its holdings in shares of AT&T by 2.1% in the second quarter. Octavia Wealth Advisors LLC now owns 25,313 shares of the technology company’s stock valued at $484,000 after acquiring an additional 519 shares during the period. WealthCare Investment Partners LLC boosted its holdings in shares of AT&T by 2.2% in the second quarter. WealthCare Investment Partners LLC now owns 24,138 shares of the technology company’s stock valued at $461,000 after acquiring an additional 525 shares during the period. Integral Investment Advisors Inc. boosted its holdings in shares of AT&T by 3.2% in the second quarter. Integral Investment Advisors Inc. now owns 17,177 shares of the technology company’s stock valued at $322,000 after acquiring an additional 538 shares during the period. Financial Counselors Inc. boosted its holdings in shares of AT&T by 0.6% in the second quarter. Financial Counselors Inc. now owns 92,450 shares of the technology company’s stock valued at $1,767,000 after acquiring an additional 539 shares during the period. Finally, Fortitude Family Office LLC boosted its holdings in shares of AT&T by 1.3% in the second quarter. Fortitude Family Office LLC now owns 42,154 shares of the technology company’s stock valued at $806,000 after acquiring an additional 559 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

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.