AT&T Inc. (NYSE:T – Free Report) shares gapped down prior to trading on Friday after Barclays lowered their price target on the stock from $18.00 to $17.00. The stock had previously closed at $15.87, but opened at $15.54. AT&T shares last traded at $15.56, with a volume of 4,478,233 shares trading hands.
Several other analysts have also recently weighed in on T. StockNews.com started coverage on AT&T in a report on Thursday, May 18th. They set a “hold” rating for the company. JPMorgan Chase & Co. dropped their price target on AT&T from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Friday, April 21st. HSBC dropped their price target on AT&T from $21.00 to $19.00 in a report on Monday, June 5th. TD Cowen lowered their price objective on AT&T from $25.00 to $23.00 and set a “market perform” rating on the stock in a research note on Friday, April 21st. Finally, Moffett Nathanson upgraded AT&T from an “underperform” rating to a “market perform” rating and set a $17.00 price objective on the stock in a research note on Tuesday, June 6th. Eight research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $21.31.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the business. Arcus Capital Partners LLC bought a new stake in AT&T in the 4th quarter valued at about $26,000. Red Tortoise LLC bought a new stake in AT&T in the 4th quarter valued at about $30,000. Steward Financial Group LLC increased its position in AT&T by 159.7% in the 1st quarter. Steward Financial Group LLC now owns 1,561 shares of the technology company’s stock valued at $30,000 after buying an additional 960 shares in the last quarter. Carmel Capital Partners LLC bought a new stake in AT&T in the 1st quarter valued at about $31,000. Finally, FWL Investment Management LLC bought a new stake in AT&T in the 4th quarter valued at about $31,000. 54.09% of the stock is owned by institutional investors and hedge funds.
AT&T Price Performance
The company has a current ratio of 0.51, a quick ratio of 0.47 and a debt-to-equity ratio of 1.14. The business has a 50-day moving average of $16.18 and a 200 day moving average of $18.03. The firm has a market capitalization of $111.17 billion, a P/E ratio of -12.50, a price-to-earnings-growth ratio of 1.72 and a beta of 0.66.
AT&T (NYSE:T – Free Report) last issued its quarterly earnings data on Thursday, April 20th. The technology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The firm had revenue of $30.14 billion during the quarter, compared to analyst estimates of $30.22 billion. AT&T had a positive return on equity of 15.47% and a negative net margin of 7.52%. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.77 EPS. On average, sell-side analysts predict that AT&T Inc. will post 2.42 earnings per share for the current fiscal year.
AT&T Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 7.14%. The ex-dividend date is Friday, July 7th. AT&T’s dividend payout ratio is presently -87.40%.
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, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.