AT&T Inc. (NYSE:T) shares dropped 1.7% during trading on Thursday . The company traded as low as $41.11 and last traded at $41.13, with a volume of 15,480,351 shares trading hands. The stock had previously closed at $41.86.

A number of brokerages have issued reports on T. Zacks Investment Research upgraded AT&T from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research note on Tuesday, July 5th. Jefferies Group reiterated a “buy” rating on shares of AT&T in a research note on Sunday, June 5th. Vetr cut AT&T from a “buy” rating to a “hold” rating and set a $41.37 price objective for the company. in a research note on Tuesday, June 7th. Bank of America Corp. reiterated a “buy” rating on shares of AT&T in a research note on Thursday, May 19th. Finally, Barclays PLC reiterated an “overweight” rating and set a $42.00 price objective on shares of AT&T in a research note on Tuesday, June 28th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and sixteen have assigned a buy rating to the stock. AT&T presently has an average rating of “Hold” and an average target price of $41.34.

The firm has a market cap of $252.29 billion and a price-to-earnings ratio of 17.68. The company’s 50-day moving average is $42.76 and its 200 day moving average is $39.74.

AT&T (NYSE:T) last issued its quarterly earnings data on Thursday, July 21st. The company reported $0.72 EPS for the quarter, meeting the consensus estimate of $0.72. The business had revenue of $40.50 billion for the quarter, compared to analysts’ expectations of $40.75 billion. Analysts predict that AT&T Inc. will post $2.86 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 1st. Stockholders of record on Friday, July 8th were issued a dividend of $0.48 per share. The ex-dividend date was Wednesday, July 6th. This represents a $1.92 annualized dividend and a dividend yield of 4.68%.

In other news, CEO John T. Stankey sold 2,131 shares of the stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $43.38, for a total transaction of $92,442.78. Following the completion of the sale, the chief executive officer now owns 13,583 shares in the company, valued at approximately $589,230.54. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Other hedge funds have modified their holdings of the company. OppenheimerFunds Inc. raised its position in shares of AT&T by 33.8% in the fourth quarter. OppenheimerFunds Inc. now owns 5,894,413 shares of the company’s stock worth $202,903,000 after buying an additional 1,489,733 shares during the period. Teacher Retirement System of Texas raised its position in shares of AT&T by 7.9% in the fourth quarter. Teacher Retirement System of Texas now owns 4,435,528 shares of the company’s stock worth $152,627,000 after buying an additional 324,899 shares during the period. Essex Financial Services Inc. raised its position in shares of AT&T by 2.9% in the fourth quarter. Essex Financial Services Inc. now owns 152,058 shares of the company’s stock worth $5,232,000 after buying an additional 4,254 shares during the period. Palouse Capital Management Inc. raised its position in shares of AT&T by 54.8% in the fourth quarter. Palouse Capital Management Inc. now owns 138,890 shares of the company’s stock worth $4,779,000 after buying an additional 49,180 shares during the period. Finally, Calamos Wealth Management LLC raised its position in shares of AT&T by 14.0% in the fourth quarter. Calamos Wealth Management LLC now owns 64,343 shares of the company’s stock worth $2,214,000 after buying an additional 7,890 shares during the period.

AT&T Inc is a holding company. The Company offers communications and digital entertainment services in the United States and the world. It operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Business Solutions segment includes various categories, including wireless service, fixed strategic services, legacy voice and data services, other services and wireless equipment.

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