AT&T (NYSE:T) Trading Down 0.3% – Here’s Why

AT&T Inc. (NYSE:T) was down 0.3% during mid-day trading on Thursday . The stock traded as low as $24.33 and last traded at $24.39. Approximately 4,951,082 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 38,060,004 shares. The stock had previously closed at $24.47.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Scotiabank lifted their price target on shares of AT&T from $24.00 to $26.00 and gave the company a “sector outperform” rating in a research note on Tuesday, January 28th. Sanford C. Bernstein boosted their target price on shares of AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Oppenheimer started coverage on shares of AT&T in a report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price objective on the stock. Barclays upped their price objective on shares of AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Morgan Stanley raised shares of AT&T from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $19.00 to $28.00 in a research report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $26.21.

AT&T Trading Down 0.2 %

The stock’s fifty day moving average price is $22.99 and its 200 day moving average price is $21.75. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The stock has a market cap of $175.26 billion, a PE ratio of 16.39, a PEG ratio of 2.71 and a beta of 0.59.

AT&T (NYSE:T) last posted its earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates 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, sell-side analysts forecast that AT&T Inc. will post 2.15 EPS for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.54%. The ex-dividend date of this dividend was Friday, January 10th. AT&T’s payout ratio is 74.50%.

Institutional Investors Weigh In On AT&T

A number of institutional investors have recently bought and sold shares of the business. AMF Tjanstepension AB boosted its holdings in shares of AT&T by 305.1% during the 3rd quarter. AMF Tjanstepension AB now owns 1,541,724 shares of the technology company’s stock valued at $33,918,000 after purchasing an additional 1,161,152 shares during the last quarter. Czech National Bank increased its holdings in shares of AT&T by 6.9% in the third quarter. Czech National Bank now owns 1,460,655 shares of the technology company’s stock worth $32,134,000 after purchasing an additional 94,312 shares during the last quarter. Miracle Mile Advisors LLC increased its holdings in shares of AT&T by 20.0% in the third quarter. Miracle Mile Advisors LLC now owns 42,148 shares of the technology company’s stock worth $927,000 after purchasing an additional 7,021 shares during the last quarter. Axiom Advisory LLC increased its holdings in shares of AT&T by 2.3% in the third quarter. Axiom Advisory LLC now owns 90,724 shares of the technology company’s stock worth $1,996,000 after purchasing an additional 2,036 shares during the last quarter. Finally, Brookstone Capital Management increased its holdings in shares of AT&T by 0.9% in the third quarter. Brookstone Capital Management now owns 793,140 shares of the technology company’s stock worth $17,449,000 after purchasing an additional 6,966 shares during the last quarter. Hedge funds and other institutional investors 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.