A number of other equities analysts also recently weighed in on T. Morgan Stanley reiterated an overweight rating and issued a $37.00 target price on shares of AT&T in a report on Wednesday, June 27th. Credit Suisse Group began coverage on AT&T in a report on Tuesday, July 10th. They issued an underperform rating and a $29.00 price objective on the stock. Raymond James downgraded AT&T from an outperform rating to a market perform rating and set a $31.75 price objective on the stock. in a report on Friday, July 13th. Zacks Investment Research upgraded AT&T from a hold rating to a buy rating and set a $35.00 price objective on the stock in a report on Tuesday, July 17th. Finally, Bank of America upgraded AT&T from a neutral rating to a buy rating and set a $37.00 price objective on the stock in a report on Monday, July 30th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of Hold and an average price target of $37.95.
Shares of T traded down $0.89 during trading hours on Thursday, reaching $29.09. The company’s stock had a trading volume of 77,619,188 shares, compared to its average volume of 35,276,262. The company has a market capitalization of $200.56 billion, a price-to-earnings ratio of 9.54, a P/E/G ratio of 2.60 and a beta of 0.40. AT&T has a 1-year low of $28.85 and a 1-year high of $39.33. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.81 and a quick ratio of 0.81.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 1st. Shareholders of record on Wednesday, October 10th will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, October 9th. This represents a $2.00 dividend on an annualized basis and a yield of 6.88%. AT&T’s payout ratio is currently 65.57%.
In related news, Director Piazza Samuel A. Jr. Di bought 7,690 shares of the firm’s stock in a transaction on Wednesday, August 8th. The stock was purchased at an average price of $32.48 per share, with a total value of $249,771.20. Following the completion of the transaction, the director now directly owns 31,405 shares of the company’s stock, valued at $1,020,034.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.09% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the business. Price Wealth Management Inc. boosted its position in shares of AT&T by 165.1% in the second quarter. Price Wealth Management Inc. now owns 3,314 shares of the technology company’s stock valued at $106,000 after acquiring an additional 2,064 shares during the period. Chessman Wealth Strategies RIA bought a new stake in shares of AT&T in the third quarter valued at approximately $114,000. Braun Bostich & Associates Inc. bought a new stake in shares of AT&T in the first quarter valued at approximately $137,000. CKW Financial Group boosted its position in shares of AT&T by 105.0% in the second quarter. CKW Financial Group now owns 4,215 shares of the technology company’s stock valued at $135,000 after acquiring an additional 2,159 shares during the period. Finally, Hoertkorn Richard Charles boosted its position in shares of AT&T by 66.7% in the third quarter. Hoertkorn Richard Charles now owns 5,000 shares of the technology company’s stock valued at $168,000 after acquiring an additional 2,000 shares during the period. 64.76% of the stock is owned by hedge funds and other institutional investors.
AT&T Inc provides communications and digital entertainment services. The company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility, and International. The Business Solutions segment offers wireless services, strategic services, legacy voice, data services, wireless equipment, and other services to multinational companies, governmental and wholesale customers, and individual subscribers.
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