AT&T (NYSE:T) Sets New 52-Week Low – Here’s Why

AT&T Inc. (NYSE:T) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $23.13 and last traded at $23.1950, with a volume of 6633788 shares traded. The stock had previously closed at $23.45.

Analyst Ratings Changes

Several research firms have commented on T. Wells Fargo & Company decreased their target price on shares of AT&T from $29.00 to $27.00 and set an “overweight” rating for the company in a research report on Monday. Wolfe Research cut AT&T from an “outperform” rating to a “peer perform” rating in a report on Monday, December 15th. Citigroup dropped their target price on shares of AT&T from $32.00 to $29.00 and set a “buy” rating on the stock in a research report on Monday, December 22nd. Weiss Ratings reissued a “buy (b-)” rating on shares of AT&T in a research note on Monday, December 29th. Finally, UBS Group reiterated a “buy” rating on shares of AT&T in a research report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, AT&T has an average rating of “Moderate Buy” and a consensus price target of $29.67.

AT&T Stock Performance

The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 1.01. The firm’s fifty day moving average price is $24.58 and its 200-day moving average price is $26.40. The company has a market cap of $163.87 billion, a P/E ratio of 7.50, a P/E/G ratio of 1.29 and a beta of 0.39.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 12th will be given a dividend of $0.2775 per share. The ex-dividend date is Monday, January 12th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.8%. AT&T’s dividend payout ratio (DPR) is 36.04%.

Institutional Trading of AT&T

Several large investors have recently made changes to their positions in the business. Front Row Advisors LLC bought a new stake in AT&T in the second quarter valued at about $25,000. Mountain Hill Investment Partners Corp. raised its position in AT&T by 363.7% during the third quarter. Mountain Hill Investment Partners Corp. now owns 895 shares of the technology company’s stock valued at $25,000 after purchasing an additional 702 shares in the last quarter. GGM Financials LLC bought a new stake in AT&T during the 3rd quarter worth approximately $25,000. OFI Invest Asset Management lifted its holdings in AT&T by 84.2% in the fourth quarter. OFI Invest Asset Management now owns 1,087,055 shares of the technology company’s stock valued at $27,000 after buying an additional 496,804 shares during the period. Finally, Kennebec Savings Bank boosted its position in shares of AT&T by 412.1% during the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after purchasing an additional 783 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Company Profile

AT&T Inc is a global telecommunications company that provides a broad range of communications and digital entertainment services. Its core activities include consumer and business wireless services, broadband and fiber internet, and network infrastructure. The company operates branded wireless services through AT&T Mobility and deploys fixed-line and fiber networks to deliver high-speed internet and related home services.

AT&T’s product and service portfolio spans mobile voice and data plans, smartphones and device sales, home internet (including fiber-to-the-home where available), and managed connectivity solutions for enterprise customers.