AT&T (NYSE:T) Shares Down 0.2% – Here’s Why

AT&T Inc. (NYSE:T) dropped 0.2% on Monday . The stock traded as low as $26.84 and last traded at $26.98. Approximately 6,287,532 shares changed hands during trading, a decline of 82% from the average daily volume of 34,216,116 shares. The stock had previously closed at $27.02.

Analysts Set New Price Targets

Several analysts have recently issued reports on T shares. Morgan Stanley upgraded AT&T from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $19.00 to $28.00 in a research note on Monday, December 16th. JPMorgan Chase & Co. increased their price target on AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Sanford C. Bernstein boosted their price objective on shares of AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Scotiabank lifted their target price on shares of AT&T from $26.00 to $28.50 and gave the stock a “sector outperform” rating in a report on Monday, March 3rd. Finally, Argus raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research report on Thursday, January 16th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, AT&T currently has an average rating of “Moderate Buy” and a consensus price target of $26.79.

AT&T Trading Up 1.3 %

The business’s 50 day moving average price is $25.35 and its 200-day moving average price is $23.40. The company has a market cap of $195.96 billion, a price-to-earnings ratio of 18.32, a PEG ratio of 3.00 and a beta of 0.56. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66.

AT&T (NYSE:T) last posted its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. On average, research analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

Institutional Trading of AT&T

Several institutional investors have recently bought and sold shares of T. Norges Bank acquired a new stake in shares of AT&T during the fourth quarter worth approximately $1,858,418,000. GQG Partners LLC increased its holdings in AT&T by 37.3% during the 4th quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock valued at $2,203,667,000 after purchasing an additional 26,280,866 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in AT&T by 31.8% in 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 valued at $1,216,665,000 after purchasing an additional 12,881,578 shares during the last quarter. Northern Trust Corp boosted its stake in AT&T by 16.3% in the fourth quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company’s stock worth $1,779,438,000 after purchasing an additional 10,945,679 shares in the last quarter. Finally, Assetmark Inc. grew its holdings in shares of AT&T by 4,986.1% during the fourth quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company’s stock worth $225,741,000 after purchasing an additional 9,719,036 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

About AT&T

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.