AT&T Inc. (NYSE:T) announced a quarterly dividend on Friday, June 26th, Zacks reports. Stockholders of record on Friday, July 10th will be paid a dividend of 0.52 per share by the technology company on Monday, August 3rd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 6.84%. The ex-dividend date is Thursday, July 9th.
AT&T has raised its dividend payment by an average of 4.4% per year over the last three years and has increased its dividend every year for the last 35 years. AT&T has a dividend payout ratio of 64.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect AT&T to earn $3.37 per share next year, which means the company should continue to be able to cover its $2.08 annual dividend with an expected future payout ratio of 61.7%.
Shares of AT&T stock opened at $30.43 on Tuesday. The company has a 50 day moving average of $30.50 and a 200-day moving average of $33.61. AT&T has a 1-year low of $26.08 and a 1-year high of $39.70. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.75. The company has a market cap of $216.07 billion, a PE ratio of 15.48, a price-to-earnings-growth ratio of 1.70 and a beta of 0.72.
AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, April 22nd. The technology company reported $0.84 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.85 by ($0.01). The company had revenue of $42.78 billion for the quarter, compared to analyst estimates of $44.75 billion. AT&T had a return on equity of 13.27% and a net margin of 8.05%. AT&T’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.86 earnings per share. Research analysts forecast that AT&T will post 3.2 earnings per share for the current year.
A number of research firms recently issued reports on T. Deutsche Bank lowered their price objective on shares of AT&T from $45.00 to $38.00 and set a “buy” rating for the company in a research report on Tuesday, April 28th. ValuEngine cut shares of AT&T from a “sell” rating to a “strong sell” rating in a research report on Friday, May 1st. Nomura lowered their price objective on shares of AT&T from $39.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, April 22nd. Guggenheim decreased their price target on shares of AT&T from $39.00 to $38.00 and set a “buy” rating for the company in a research report on Thursday, April 23rd. Finally, Barclays restated a “hold” rating and issued a $33.00 price target on shares of AT&T in a research report on Friday, April 17th. Four analysts have rated the stock with a sell rating, fourteen have given a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $35.94.
In related news, Director Geoffrey Y. Yang bought 6,754 shares of the business’s stock in a transaction that occurred on Friday, April 24th. The shares were acquired at an average cost of $29.39 per share, with a total value of $198,500.06. Following the completion of the purchase, the director now directly owns 9,398 shares in the company, valued at $276,207.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephen J. Luczo bought 36,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 22nd. The shares were bought at an average cost of $29.38 per share, for a total transaction of $1,057,680.00. The disclosure for this purchase can be found here. 0.07% of the stock is owned by corporate insiders.
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.
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