AT&T (NYSE:T) Stock Price Down 0%

AT&T Inc. (NYSE:T)’s share price fell 0% on Wednesday . The company traded as low as $21.72 and last traded at $21.77. 3,302,519 shares traded hands during trading, a decline of 91% from the average session volume of 35,982,594 shares. The stock had previously closed at $21.78.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on T shares. Redburn Atlantic upgraded AT&T to a “strong sell” rating in a report on Monday. TD Cowen upped their price target on AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. UBS Group reiterated a “buy” rating and set a $24.00 price objective on shares of AT&T in a research note on Tuesday, June 18th. The Goldman Sachs Group started coverage on AT&T in a research note on Monday, July 1st. They issued a “buy” rating and a $22.00 target price on the stock. Finally, Oppenheimer lifted their price target on AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat, AT&T presently has an average rating of “Hold” and a consensus target price of $22.31.

AT&T Stock Up 0.5 %

The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. The company has a 50-day moving average price of $19.72 and a 200 day moving average price of $18.26. The firm has a market capitalization of $156.88 billion, a PE ratio of 11.70, a P/E/G ratio of 3.68 and a beta of 0.59.

AT&T (NYSE:T) last posted its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The firm had revenue of $29.80 billion during the quarter, compared to analyst estimates of $30.05 billion. During the same period last year, the firm posted $0.63 earnings per share. AT&T’s revenue for the quarter was down .3% compared to the same quarter last year. Analysts forecast that AT&T Inc. will post 2.2 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were issued a dividend of $0.2775 per share. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $1.11 annualized dividend and a yield of 5.07%. AT&T’s payout ratio is presently 59.68%.

Hedge Funds Weigh In On AT&T

Large investors have recently made changes to their positions in the company. Cantor Fitzgerald Investment Advisors L.P. purchased a new position in AT&T during the 4th quarter valued at $11,554,000. Clearbridge Investments LLC boosted its holdings in shares of AT&T by 250.3% in the fourth quarter. Clearbridge Investments LLC now owns 67,303 shares of the technology company’s stock valued at $1,129,000 after purchasing an additional 48,091 shares during the period. Skopos Labs Inc. bought a new position in AT&T in the fourth quarter worth approximately $839,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of AT&T by 4.3% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 1,037,529 shares of the technology company’s stock valued at $19,827,000 after buying an additional 43,062 shares during the period. Finally, M&G Plc bought a new stake in shares of AT&T in the 1st quarter valued at about $9,074,000. 57.10% of the stock is 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.