AT&T (NYSE:T) Stock Price Down 0.4%

Shares of AT&T Inc. (NYSE:T) traded down 0.4% during mid-day trading on Tuesday . The company traded as low as $16.80 and last traded at $16.96. 6,521,990 shares changed hands during trading, a decline of 83% from the average session volume of 39,054,457 shares. The stock had previously closed at $17.02.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Tigress Financial boosted their price objective on AT&T from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. TheStreet upgraded AT&T from a “c” rating to a “b-” rating in a research report on Wednesday, January 24th. Barclays upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price objective for the company in a research report on Monday. Oppenheimer raised shares of AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a report on Friday, January 19th. Finally, Citigroup raised their price target on shares of AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $20.81.

AT&T Trading Down 0.8 %

The stock has a fifty day moving average of $16.97 and a two-hundred day moving average of $16.60. The company has a market capitalization of $120.81 billion, a PE ratio of 9.13, a PEG ratio of 3.32 and a beta of 0.57. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.06.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.53 by $0.02. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The firm had revenue of $30.03 billion for the quarter, compared to the consensus estimate of $30.62 billion. During the same period last year, the firm posted $0.60 earnings per share. The business’s revenue was down .4% compared to the same quarter last year. As a group, sell-side analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.11 annualized dividend and a dividend yield of 6.57%. AT&T’s dividend payout ratio is currently 59.68%.

Institutional Trading of AT&T

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of AT&T by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 622,406,459 shares of the technology company’s stock worth $10,443,980,000 after purchasing an additional 2,155,232 shares during the period. Newport Trust Company LLC lifted its holdings in AT&T by 0.3% in the 3rd quarter. Newport Trust Company LLC now owns 199,998,040 shares of the technology company’s stock worth $3,003,971,000 after buying an additional 673,043 shares during the period. Bank of New York Mellon Corp grew its position in shares of AT&T by 5.6% in the 1st quarter. Bank of New York Mellon Corp now owns 75,484,518 shares of the technology company’s stock worth $1,328,528,000 after buying an additional 4,014,873 shares during the last quarter. Northern Trust Corp increased its stake in shares of AT&T by 2.5% during the third quarter. Northern Trust Corp now owns 75,158,354 shares of the technology company’s stock valued at $1,128,878,000 after buying an additional 1,828,237 shares during the period. Finally, Norges Bank bought a new position in shares of AT&T during the fourth quarter valued at approximately $1,118,288,000. 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.