AT&T (NYSE:T) Trading Down 0.6%

AT&T Inc. (NYSE:T) shares traded down 0.6% during mid-day trading on Thursday . The stock traded as low as $17.15 and last traded at $17.23. 6,756,842 shares were traded during mid-day trading, a decline of 82% from the average session volume of 37,591,359 shares. The stock had previously closed at $17.33.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $17.00 price target on shares of AT&T in a research note on Thursday, April 11th. TheStreet raised AT&T from a “c” rating to a “b-” rating in a research report on Wednesday, January 24th. StockNews.com lowered AT&T from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Wolfe Research raised AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research report on Tuesday, March 5th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.81.

AT&T Stock Up 0.6 %

The stock’s 50-day moving average price is $17.02 and its two-hundred day moving average price is $16.79. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $124.76 billion, a P/E ratio of 9.35, a P/E/G ratio of 3.40 and a beta of 0.57.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.02. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The business had revenue of $30.03 billion during the quarter, compared to analyst estimates of $30.62 billion. During the same period in the prior year, the company earned $0.60 earnings per share. AT&T’s revenue was down .4% compared to the same quarter last year. As a group, research analysts expect that AT&T Inc. will post 2.24 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a yield of 6.38%. AT&T’s dividend payout ratio is presently 59.68%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Frank Rimerman Advisors LLC purchased a new position in AT&T in the fourth quarter worth $25,000. Pineridge Advisors LLC purchased a new position in shares of AT&T during the 4th quarter valued at about $25,000. First Pacific Financial lifted its position in AT&T by 166.7% in the 1st quarter. First Pacific Financial now owns 1,600 shares of the technology company’s stock worth $28,000 after buying an additional 1,000 shares during the last quarter. Lipe & Dalton purchased a new stake in AT&T in the third quarter worth approximately $30,000. Finally, Ramirez Asset Management Inc. bought a new position in AT&T during the third quarter valued at approximately $30,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Company Profile

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.