AT&T (NYSE:T) Trading Down 0.1%

AT&T Inc. (NYSE:T) shares dropped 0.1% during mid-day trading on Friday . The stock traded as low as $21.23 and last traded at $21.33. Approximately 9,801,779 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 36,000,734 shares. The stock had previously closed at $21.36.

Wall Street Analysts Forecast Growth

T has been the topic of several recent analyst reports. Scotiabank lowered AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. The Goldman Sachs Group began coverage on AT&T in a report on Monday, July 1st. They set a “buy” rating and a $22.00 price objective for the company. Redburn Atlantic upgraded AT&T to a “strong sell” rating in a report on Monday. UBS Group restated a “buy” rating and set a $24.00 price objective on shares of AT&T in a report on Tuesday, June 18th. Finally, JPMorgan Chase & Co. boosted their price objective on AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, AT&T currently has a consensus rating of “Hold” and a consensus price target of $22.31.

AT&T Stock Performance

The company has a 50-day simple moving average of $19.82 and a two-hundred day simple moving average of $18.30. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. The firm has a market cap of $154.23 billion, a PE ratio of 11.47, a PEG ratio of 3.79 and a beta of 0.59.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, hitting the consensus estimate of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The business had revenue of $29.80 billion for the quarter, compared to analysts’ expectations of $30.05 billion. During the same quarter in the previous year, the firm earned $0.63 earnings per share. The business’s revenue was down .3% on a year-over-year basis. As a group, equities research analysts forecast that AT&T Inc. will post 2.2 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were given a $0.2775 dividend. The ex-dividend date was Wednesday, July 10th. This represents a $1.11 annualized dividend and a yield of 5.16%. AT&T’s dividend payout ratio is currently 59.68%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vantage Financial Partners LLC lifted its position in shares of AT&T by 25.5% during the 4th quarter. Vantage Financial Partners LLC now owns 38,207 shares of the technology company’s stock valued at $641,000 after buying an additional 7,762 shares during the last quarter. Gilbert & Cook Inc. lifted its holdings in AT&T by 4.1% during the 4th quarter. Gilbert & Cook Inc. now owns 31,130 shares of the technology company’s stock worth $522,000 after purchasing an additional 1,212 shares in the last quarter. Aveo Capital Partners LLC lifted its holdings in AT&T by 4.5% during the 4th quarter. Aveo Capital Partners LLC now owns 27,770 shares of the technology company’s stock worth $466,000 after purchasing an additional 1,194 shares in the last quarter. Gryphon Financial Partners LLC lifted its holdings in AT&T by 21.8% during the 4th quarter. Gryphon Financial Partners LLC now owns 27,253 shares of the technology company’s stock worth $477,000 after purchasing an additional 4,870 shares in the last quarter. Finally, Brown Advisory Inc. lifted its holdings in AT&T by 7.8% during the 4th quarter. Brown Advisory Inc. now owns 242,324 shares of the technology company’s stock worth $4,066,000 after purchasing an additional 17,601 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

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.