AT&T (NYSE:T) Shares Down 0.4%

AT&T Inc. (NYSE:T)’s stock price was down 0.4% during mid-day trading on Tuesday . The company traded as low as $21.83 and last traded at $21.92. Approximately 4,881,859 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 35,960,359 shares. The stock had previously closed at $22.00.

Analysts Set New Price Targets

A number of analysts recently issued reports on T shares. Daiwa America raised shares of AT&T to a “hold” rating in a research report on Friday, July 26th. The Goldman Sachs Group initiated coverage on AT&T in a research report on Monday, July 1st. They issued a “buy” rating and a $22.00 target price on the stock. UBS Group reissued a “buy” rating and set a $24.00 price target on shares of AT&T in a report on Tuesday, June 18th. TD Cowen increased their price target on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Finally, JPMorgan Chase & Co. raised their price objective on AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $22.38.

AT&T Price Performance

The firm has a market cap of $158.25 billion, a price-to-earnings ratio of 11.78, a P/E/G ratio of 3.68 and a beta of 0.59. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. The business has a 50 day simple moving average of $20.21 and a 200-day simple moving average of $18.54.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting the consensus estimate of $0.57. The business had revenue of $29.80 billion during the quarter, compared to analyst estimates of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. AT&T’s revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.63 earnings per share. Equities research analysts expect 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 will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be given a $0.2775 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.03%. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Hedge Funds Weigh In On AT&T

Several large investors have recently made changes to their positions in the business. Octavia Wealth Advisors LLC boosted its stake in AT&T by 2.1% in the 2nd quarter. Octavia Wealth Advisors LLC now owns 25,313 shares of the technology company’s stock valued at $484,000 after purchasing an additional 519 shares during the period. Carolinas Wealth Consulting LLC lifted its position in shares of AT&T by 2.3% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 23,650 shares of the technology company’s stock valued at $452,000 after acquiring an additional 521 shares during the period. WealthCare Investment Partners LLC lifted its position in shares of AT&T by 2.2% during the 2nd quarter. WealthCare Investment Partners LLC now owns 24,138 shares of the technology company’s stock valued at $461,000 after acquiring an additional 525 shares during the period. Integral Investment Advisors Inc. lifted its position in shares of AT&T by 3.2% during the 2nd quarter. Integral Investment Advisors Inc. now owns 17,177 shares of the technology company’s stock valued at $322,000 after acquiring an additional 538 shares during the period. Finally, Financial Counselors Inc. lifted its position in shares of AT&T by 0.6% during the 2nd quarter. Financial Counselors Inc. now owns 92,450 shares of the technology company’s stock valued at $1,767,000 after acquiring an additional 539 shares during the period. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

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.