AT&T (NYSE:T) Stock Price Down 0.6%

AT&T Inc. (NYSE:T) fell 0.6% during mid-day trading on Monday . The stock traded as low as $18.98 and last traded at $18.99. 8,155,233 shares were traded during mid-day trading, a decline of 78% from the average session volume of 36,673,813 shares. The stock had previously closed at $19.11.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on T. StockNews.com cut AT&T from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. UBS Group reissued a “buy” rating and issued a $24.00 target price on shares of AT&T in a research note on Tuesday, June 18th. Scotiabank raised their target price on AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a research note on Thursday, April 25th. The Goldman Sachs Group began coverage on shares of AT&T in a report on Monday. They issued a “buy” rating and a $22.00 price objective for the company. Finally, BNP Paribas upgraded shares of AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and a consensus price target of $21.73.

AT&T Stock Performance

The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $134.94 billion, a PE ratio of 10.12, a price-to-earnings-growth ratio of 4.34 and a beta of 0.58. The business’s fifty day moving average is $17.63 and its two-hundred day moving average is $17.20.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The firm had revenue of $30.03 billion during the quarter, compared to the consensus estimate of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The company’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.60 EPS. Equities research analysts predict that AT&T Inc. will post 2.24 earnings per share for the current year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 5.90%. The ex-dividend date is Wednesday, July 10th. AT&T’s dividend payout ratio is currently 59.68%.

Institutional Trading of AT&T

Several hedge funds have recently made changes to their positions in T. Lido Advisors LLC grew its holdings in AT&T by 3.4% during the 3rd quarter. Lido Advisors LLC now owns 313,247 shares of the technology company’s stock valued at $4,705,000 after purchasing an additional 10,287 shares during the last quarter. Legacy Advisors LLC bought a new position in AT&T during the 3rd quarter valued at about $421,000. Lowe Brockenbrough & Co. Inc. grew its holdings in AT&T by 4.8% during the 3rd quarter. Lowe Brockenbrough & Co. Inc. now owns 44,536 shares of the technology company’s stock valued at $669,000 after purchasing an additional 2,038 shares during the last quarter. Lake Street Advisors Group LLC grew its holdings in AT&T by 67.4% during the 3rd quarter. Lake Street Advisors Group LLC now owns 73,302 shares of the technology company’s stock valued at $1,101,000 after purchasing an additional 29,520 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in AT&T by 9.5% during the 3rd quarter. Sei Investments Co. now owns 1,980,910 shares of the technology company’s stock valued at $29,756,000 after purchasing an additional 172,079 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

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, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.