AT&T Inc. (NYSE:T) declared a quarterly dividend on Friday, December 15th, RTT News reports. Investors of record on Wednesday, January 10th will be given a dividend of 0.50 per share by the technology company on Thursday, February 1st. This represents a $2.00 annualized dividend and a dividend yield of 5.42%. The ex-dividend date is Tuesday, January 9th. This is a boost from AT&T’s previous quarterly dividend of $0.49.
AT&T has raised its dividend payment by an average of 2.1% per year over the last three years and has raised its dividend annually for the last 33 consecutive years. AT&T has a payout ratio of 68.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect AT&T to earn $3.02 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 66.2%.
AT&T (NYSE:T) traded up $0.42 during trading hours on Monday, reaching $36.90. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.60 and a current ratio of 1.60. The firm has a market capitalization of $226,530.00, a P/E ratio of 17.74, a P/E/G ratio of 2.97 and a beta of 0.44. AT&T has a 1-year low of $32.55 and a 1-year high of $42.70.
In other news, Director Matthew K. Rose purchased 29,600 shares of the business’s stock in a transaction dated Wednesday, October 25th. The stock was acquired at an average price of $33.75 per share, with a total value of $999,000.00. Following the purchase, the director now directly owns 3,100 shares of the company’s stock, valued at approximately $104,625. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.09% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in AT&T by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 427,857,308 shares of the technology company’s stock valued at $16,143,056,000 after buying an additional 9,053,649 shares during the period. BlackRock Inc. grew its holdings in AT&T by 1.1% in the 2nd quarter. BlackRock Inc. now owns 367,489,130 shares of the technology company’s stock valued at $13,865,363,000 after buying an additional 4,104,136 shares during the period. Dimensional Fund Advisors LP grew its holdings in AT&T by 5.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 64,856,009 shares of the technology company’s stock valued at $2,446,984,000 after buying an additional 3,572,307 shares during the period. Wells Fargo & Company MN grew its holdings in AT&T by 2.7% in the 2nd quarter. Wells Fargo & Company MN now owns 48,360,252 shares of the technology company’s stock valued at $1,824,633,000 after buying an additional 1,263,645 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in AT&T by 13.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 47,961,490 shares of the technology company’s stock valued at $1,808,545,000 after buying an additional 5,619,434 shares during the period. 55.76% of the stock is owned by hedge funds and other institutional investors.
T has been the subject of several research analyst reports. Oppenheimer reaffirmed a “hold” rating on shares of AT&T in a research note on Wednesday, October 25th. Citigroup increased their price target on shares of AT&T from $52.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, November 10th. KeyCorp reissued a “hold” rating on shares of AT&T in a research report on Wednesday, October 11th. Zacks Investment Research cut shares of AT&T from a “buy” rating to a “hold” rating in a research report on Thursday, October 12th. Finally, Deutsche Bank reduced their price target on shares of AT&T from $41.00 to $38.00 and set a “hold” rating on the stock in a research report on Wednesday, October 25th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and eleven have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $42.59.
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AT&T Company Profile
AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.
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