AT&T (NYSE:T) Stock Price Down 0.5%

AT&T Inc. (NYSE:T)’s stock price dropped 0.5% during trading on Wednesday . The stock traded as low as $16.38 and last traded at $16.42. Approximately 28,451,332 shares traded hands during trading, a decline of 27% from the average daily volume of 38,716,324 shares. The stock had previously closed at $16.50.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on T shares. Wolfe Research upgraded shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price for the company in a research note on Tuesday, March 5th. Tigress Financial boosted their price target on AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Citigroup increased their price target on AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, February 1st. JPMorgan Chase & Co. upgraded AT&T from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $18.00 to $21.00 in a report on Thursday, February 1st. Finally, Barclays increased their target price on AT&T from $17.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 31st. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, AT&T presently has an average rating of “Moderate Buy” and an average target price of $20.50.

AT&T Stock Up 1.9 %

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 firm has a market capitalization of $120.24 billion, a P/E ratio of 8.38, a PEG ratio of 2.46 and a beta of 0.57. The firm’s fifty day moving average price is $16.98 and its 200-day moving average price is $16.54.

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

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be given a $0.2775 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $1.11 annualized dividend and a yield of 6.60%. AT&T’s dividend payout ratio (DPR) is 56.63%.

Institutional Investors Weigh In On AT&T

A number of institutional investors and hedge funds have recently modified their holdings of T. Carmel Capital Partners LLC increased its holdings in shares of AT&T by 16,250.0% during the 3rd quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock valued at $25,000 after acquiring an additional 1,625 shares during the last quarter. Frank Rimerman Advisors LLC acquired a new stake in AT&T during the 4th quarter valued at $25,000. Pineridge Advisors LLC bought a new stake in shares of AT&T during the fourth quarter worth approximately $25,000. First Pacific Financial grew its stake in shares of AT&T by 166.7% in the first quarter. First Pacific Financial now owns 1,600 shares of the technology company’s stock valued at $28,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Lipe & Dalton acquired a new position in AT&T in the 3rd quarter valued at $30,000. 57.10% of the stock is owned by institutional investors and hedge funds.

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.