AT&T (NYSE:T) Trading Down 1.5%

AT&T Inc. (NYSE:T)’s stock price traded down 1.5% on Tuesday . The stock traded as low as $15.98 and last traded at $16.00. 14,588,384 shares changed hands during trading, a decline of 62% from the average session volume of 38,166,844 shares. The stock had previously closed at $16.24.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. StockNews.com downgraded AT&T from a “buy” rating to a “hold” rating in a research report on Thursday, April 4th. Citigroup lifted their target price on AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Royal Bank of Canada restated a “sector perform” rating and issued a $17.00 price objective on shares of AT&T in a report on Thursday, April 11th. TheStreet upgraded AT&T from a “c” rating to a “b-” rating in a report on Wednesday, January 24th. Finally, Wolfe Research upgraded AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a report on Tuesday, March 5th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $20.68.

AT&T Price Performance

The firm has a market capitalization of $115.30 billion, a P/E ratio of 8.22, a P/E/G ratio of 2.43 and a beta of 0.57. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.71 and a quick ratio of 0.67. The stock’s fifty day simple moving average is $17.02 and its 200 day simple moving average is $16.48.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, January 24th. The technology company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). AT&T had a return on equity of 15.39% and a net margin of 11.76%. The business had revenue of $32 billion for the quarter, compared to analysts’ expectations of $31.44 billion. During the same quarter in the previous year, the firm posted $0.61 EPS. AT&T’s revenue was up 2.2% on a year-over-year basis. On average, equities research analysts predict that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be paid a dividend of $0.2775 per share. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.89%. AT&T’s payout ratio is 56.63%.

Institutional Investors Weigh In On AT&T

Large investors have recently modified their holdings of the business. Roberts Wealth Advisors LLC boosted its position in AT&T by 6.1% in the first quarter. Roberts Wealth Advisors LLC now owns 82,700 shares of the technology company’s stock valued at $1,343,000 after buying an additional 4,753 shares during the last quarter. Breakwater Capital Group boosted its position in AT&T by 8.7% in the first quarter. Breakwater Capital Group now owns 33,432 shares of the technology company’s stock valued at $588,000 after buying an additional 2,662 shares during the last quarter. Red Door Wealth Management LLC boosted its position in AT&T by 18.0% in the first quarter. Red Door Wealth Management LLC now owns 34,314 shares of the technology company’s stock valued at $604,000 after buying an additional 5,233 shares during the last quarter. Cornerstone Wealth Group LLC boosted its position in AT&T by 0.7% in the first quarter. Cornerstone Wealth Group LLC now owns 281,841 shares of the technology company’s stock valued at $4,960,000 after buying an additional 1,905 shares during the last quarter. Finally, New Mexico Educational Retirement Board boosted its position in AT&T by 11.6% in the first quarter. New Mexico Educational Retirement Board now owns 415,262 shares of the technology company’s stock valued at $7,309,000 after buying an additional 43,300 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

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.