AT&T Inc. (T) Stock Rating Lowered by Vetr Inc.
AT&T Inc. (NYSE:T) was downgraded by investment analysts at Vetr from a “buy” rating to a “hold” rating in a report issued on Wednesday. They currently have a $40.78 target price on the stock. Vetr‘s target price would suggest a potential upside of 3.58% from the company’s current price.
A number of other research firms also recently weighed in on T. Zacks Investment Research raised AT&T from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a research report on Tuesday, July 5th. Jefferies Group reissued a “buy” rating on shares of AT&T in a research report on Wednesday, August 3rd. S&P Equity Research set a $46.00 target price on AT&T and gave the stock a “buy” rating in a research report on Sunday, July 24th. Robert W. Baird reissued a “neutral” rating and set a $41.00 target price on shares of AT&T in a research report on Monday, July 25th. Finally, Citigroup Inc. downgraded AT&T from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $42.00 to $46.00 in a research report on Thursday, July 7th. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $41.86.
AT&T (NYSE:T) opened at 39.37 on Wednesday. AT&T has a one year low of $32.22 and a one year high of $43.89. The company has a market capitalization of $242.20 billion, a price-to-earnings ratio of 16.98 and a beta of 0.30. The company has a 50-day moving average price of $40.38 and a 200-day moving average price of $40.51.
AT&T (NYSE:T) last released its earnings results on Thursday, July 21st. The company reported $0.72 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.72. AT&T had a return on equity of 13.93% and a net margin of 8.76%. The business had revenue of $40.50 billion for the quarter, compared to the consensus estimate of $40.75 billion. Equities research analysts anticipate that AT&T will post $2.86 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Monday, October 10th will be given a $0.48 dividend. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $1.92 annualized dividend and a yield of 4.88%. AT&T’s dividend payout ratio is currently 83.12%.
In related news, CEO John T. Stankey sold 2,131 shares of the business’s stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $43.38, for a total value of $92,442.78. Following the sale, the chief executive officer now directly owns 13,583 shares of the company’s stock, valued at approximately $589,230.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.07% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of the stock. Cornerstone Investment Partners LLC boosted its stake in AT&T by 1.3% in the third quarter. Cornerstone Investment Partners LLC now owns 9,679 shares of the company’s stock valued at $393,000 after buying an additional 125 shares in the last quarter. Private Trust Co. NA boosted its stake in shares of AT&T by 2.4% in the third quarter. Private Trust Co. NA now owns 128,575 shares of the company’s stock valued at $5,221,000 after buying an additional 2,992 shares during the period. Renaissance Investment Group LLC boosted its stake in shares of AT&T by 7.2% in the third quarter. Renaissance Investment Group LLC now owns 71,838 shares of the company’s stock valued at $2,917,000 after buying an additional 4,840 shares during the period. Cohen Capital Management Inc. boosted its stake in shares of AT&T by 1.1% in the third quarter. Cohen Capital Management Inc. now owns 20,340 shares of the company’s stock valued at $826,000 after buying an additional 227 shares during the period. Finally, Community Bank N.A. boosted its stake in shares of AT&T by 2.1% in the third quarter. Community Bank N.A. now owns 208,927 shares of the company’s stock valued at $8,485,000 after buying an additional 4,317 shares during the period. 53.64% of the stock is currently owned by institutional investors and hedge funds.
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.
To view Vetr’s full report, visit Vetr’s official website.
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