AT&T Inc. (NYSE:T – Get Free Report) dropped 1.9% during trading on Tuesday . The stock traded as low as $17.14 and last traded at $17.18. Approximately 9,917,074 shares traded hands during trading, a decline of 73% from the average daily volume of 37,274,492 shares. The stock had previously closed at $17.52.
Analysts Set New Price Targets
A number of analysts have recently issued reports on the stock. Wolfe Research raised shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price for the company in a research note on Tuesday, March 5th. TheStreet raised shares of AT&T from a “c” rating to a “b-” rating in a research note on Wednesday, January 24th. Barclays raised shares of AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 target price for the company in a research note on Monday, April 29th. Tigress Financial boosted their target price on shares of AT&T from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $17.00 target price on shares of AT&T in a research note on Thursday, April 11th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $20.81.
AT&T Trading Down 1.4 %
The stock has a 50-day moving average of $17.02 and a 200 day moving average of $16.82. The stock has a market cap of $123.83 billion, a PE ratio of 9.30, a price-to-earnings-growth ratio of 3.42 and a beta of 0.57. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06.
AT&T (NYSE:T – Get Free Report) last announced its earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.02. The business had revenue of $30.03 billion during the quarter, compared to the consensus estimate of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The business’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the prior year, the company posted $0.60 EPS. As a group, sell-side analysts anticipate that AT&T Inc. will post 2.24 earnings per share for the current year.
AT&T Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th were issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 6.43%. The ex-dividend date was Tuesday, April 9th. AT&T’s dividend payout ratio is currently 59.68%.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of T. Frank Rimerman Advisors LLC acquired a new stake in AT&T during the fourth quarter worth $25,000. Pineridge Advisors LLC purchased a new stake in AT&T in the 4th quarter valued at about $25,000. First Pacific Financial lifted its position in AT&T by 166.7% in the first quarter. First Pacific Financial now owns 1,600 shares of the technology company’s stock valued at $28,000 after buying an additional 1,000 shares during the last quarter. Lipe & Dalton purchased a new position in AT&T during the third quarter worth about $30,000. Finally, Ramirez Asset Management Inc. acquired a new stake in shares of AT&T during the third quarter valued at about $30,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.
AT&T Company Profile
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.