AT&T (NYSE:T) Stock Price Down 0.5%

Shares of AT&T Inc. (NYSE:T) fell 0.5% during trading on Thursday . The company traded as low as $22.09 and last traded at $22.09. 10,170,934 shares changed hands during trading, a decline of 72% from the average session volume of 35,938,863 shares. The stock had previously closed at $22.19.

Analyst Upgrades and Downgrades

A number of research firms have commented on T. TD Cowen upped their price objective on shares of AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Barclays upped their target price on AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. The Goldman Sachs Group initiated coverage on AT&T in a report on Monday, July 1st. They issued a “buy” rating and a $22.00 target price on the stock. Daiwa America upgraded AT&T to a “hold” rating in a report on Friday, July 26th. Finally, Oppenheimer upped their target price on AT&T from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.38.

AT&T Stock Down 0.5 %

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 company has a market capitalization of $158.25 billion, a P/E ratio of 11.86, a PEG ratio of 3.75 and a beta of 0.59. The firm has a 50-day moving average price of $20.35 and a two-hundred day moving average price of $18.60.

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, meeting the consensus estimate of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The company had revenue of $29.80 billion during the quarter, compared to analysts’ expectations of $30.05 billion. During the same period in the prior year, the business earned $0.63 earnings per share. AT&T’s revenue for the quarter was down .3% compared to the same quarter last year. Equities research analysts anticipate that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a $0.2775 dividend. The ex-dividend date is Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.03%. AT&T’s dividend payout ratio is 59.68%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Campbell & CO Investment Adviser LLC lifted its holdings in shares of AT&T by 49.7% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 66,612 shares of the technology company’s stock valued at $1,118,000 after acquiring an additional 22,113 shares during the period. CWA Asset Management Group LLC lifted its holdings in shares of AT&T by 19.9% during the fourth quarter. CWA Asset Management Group LLC now owns 19,287 shares of the technology company’s stock valued at $324,000 after acquiring an additional 3,204 shares during the period. Rafferty Asset Management LLC lifted its holdings in shares of AT&T by 4.2% during the fourth quarter. Rafferty Asset Management LLC now owns 554,794 shares of the technology company’s stock valued at $9,309,000 after acquiring an additional 22,211 shares during the period. CIBC Private Wealth Group LLC increased its stake in shares of AT&T by 2.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 263,249 shares of the technology company’s stock valued at $4,417,000 after buying an additional 5,882 shares in the last quarter. Finally, Crossmark Global Holdings Inc. increased its stake in shares of AT&T by 29.7% in the fourth quarter. Crossmark Global Holdings Inc. now owns 733,399 shares of the technology company’s stock valued at $12,307,000 after buying an additional 167,902 shares in the last quarter. 57.10% of the stock is owned by 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.