AT&T (NYSE:T) Stock Price Down 0.9%

Shares of AT&T Inc. (NYSE:T) traded down 0.9% during mid-day trading on Tuesday . The company traded as low as $18.76 and last traded at $18.80. 6,231,576 shares changed hands during trading, a decline of 83% from the average session volume of 36,653,953 shares. The stock had previously closed at $18.98.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on T. Royal Bank of Canada reissued a “sector perform” rating and issued a $17.00 price objective on shares of AT&T in a research report on Thursday, April 11th. BNP Paribas raised shares of AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. StockNews.com lowered shares of AT&T from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. Deutsche Bank Aktiengesellschaft raised their target price on AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Finally, Scotiabank raised their price objective 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. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, AT&T presently has an average rating of “Moderate Buy” and an average target price of $21.73.

AT&T Stock Down 0.8 %

The firm has a market cap of $133.87 billion, a PE ratio of 10.04, a PEG ratio of 4.27 and a beta of 0.58. The business’s 50 day moving average price is $17.67 and its 200 day moving average price is $17.21. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.63.

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

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.95%. The ex-dividend date of this dividend is Wednesday, July 10th. AT&T’s payout ratio is 59.68%.

Institutional Investors Weigh In On AT&T

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in AT&T by 0.4% in the first quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock valued at $10,999,912,000 after acquiring an additional 2,588,539 shares during the last quarter. Bank of New York Mellon Corp boosted its position in AT&T by 5.6% in the 1st quarter. Bank of New York Mellon Corp now owns 75,484,518 shares of the technology company’s stock valued at $1,328,528,000 after buying an additional 4,014,873 shares during the period. Norges Bank acquired a new position in shares of AT&T in the fourth quarter worth $1,118,288,000. Charles Schwab Investment Management Inc. increased its position in shares of AT&T by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 50,589,421 shares of the technology company’s stock worth $848,888,000 after acquiring an additional 798,024 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of AT&T by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 47,377,267 shares of the technology company’s stock valued at $794,978,000 after acquiring an additional 1,137,792 shares in 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.