AT&T (NYSE:T) Trading Down 1.2%

AT&T Inc. (NYSE:T) was down 1.2% during trading on Tuesday . The stock traded as low as $21.86 and last traded at $22.00. Approximately 5,615,858 shares were traded during trading, a decline of 84% from the average daily volume of 36,032,824 shares. The stock had previously closed at $22.27.

Analyst Upgrades and Downgrades

Several research firms have recently commented on T. Deutsche Bank Aktiengesellschaft boosted their target price on shares of AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Daiwa America raised AT&T to a “hold” rating in a report on Friday, July 26th. Scotiabank lowered AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Royal Bank of Canada upped their price target on AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25th. Finally, UBS Group restated a “buy” rating and set a $24.00 price objective on shares of AT&T in a research note on Tuesday, June 18th. One investment 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $22.31.

AT&T Stock Performance

The company’s fifty day simple moving average is $19.78 and its 200 day simple moving average is $18.28. The stock has a market capitalization of $153.08 billion, a P/E ratio of 11.48, a P/E/G ratio of 3.68 and a beta of 0.59. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05.

AT&T (NYSE:T) last announced its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.57. The business had revenue of $29.80 billion for 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%. The company’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.63 EPS. As a group, sell-side analysts forecast that AT&T Inc. will post 2.2 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were given a dividend of $0.2775 per share. The ex-dividend date was Wednesday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.20%. AT&T’s payout ratio is 59.68%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Riggs Asset Managment Co. Inc. increased its stake in AT&T by 356.5% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after purchasing an additional 1,116 shares during the period. Pineridge Advisors LLC bought a new stake in AT&T during the 4th quarter valued at $25,000. Frank Rimerman Advisors LLC purchased a new stake in AT&T during the 4th quarter valued at $25,000. American Capital Advisory LLC grew its holdings in AT&T by 107.5% in the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after acquiring an additional 807 shares during the last quarter. Finally, Altshuler Shaham Ltd purchased a new position in shares of AT&T in the second quarter valued at about $30,000. 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.