AT&T (NYSE:T) Shares Down 0.3% – Here’s Why

AT&T Inc. (NYSE:T) shares dropped 0.3% during mid-day trading on Monday . The stock traded as low as $21.74 and last traded at $21.78. Approximately 6,843,832 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 35,391,992 shares. The stock had previously closed at $21.85.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on T. Tigress Financial lifted their price target on shares of AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. Royal Bank of Canada boosted their price target on AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. Barclays increased their price objective on AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, Wells Fargo & Company boosted their target price on AT&T from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and an average target price of $22.69.

AT&T Stock Down 0.6 %

The stock has a market cap of $155.66 billion, a P/E ratio of 11.71, a PEG ratio of 3.63 and a beta of 0.60. The firm has a 50-day simple moving average of $20.95 and a two-hundred day simple moving average of $18.98. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05.

AT&T (NYSE:T) last announced its earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, hitting the consensus estimate of $0.57. The company had revenue of $29.80 billion for the quarter, compared to analysts’ expectations of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The business’s revenue for the quarter was down .3% on a year-over-year basis. During the same period last year, the firm earned $0.63 earnings per share. Equities research analysts expect that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 5.11%. The ex-dividend date is Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is currently 59.68%.

Institutional Trading of AT&T

Several institutional investors and hedge funds have recently modified their holdings of T. Hayek Kallen Investment Management increased its position in AT&T by 0.8% during the 3rd quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company’s stock worth $1,326,000 after purchasing an additional 500 shares in the last quarter. Octavia Wealth Advisors LLC increased its stake in shares of AT&T by 2.1% in the second quarter. Octavia Wealth Advisors LLC now owns 25,313 shares of the technology company’s stock valued at $484,000 after buying an additional 519 shares during the period. Carolinas Wealth Consulting LLC raised its holdings in AT&T by 2.3% in the 2nd quarter. Carolinas Wealth Consulting LLC now owns 23,650 shares of the technology company’s stock valued at $452,000 after buying an additional 521 shares during the last quarter. WealthCare Investment Partners LLC grew its holdings in AT&T by 2.2% during the 2nd quarter. WealthCare Investment Partners LLC now owns 24,138 shares of the technology company’s stock worth $461,000 after acquiring an additional 525 shares during the last quarter. Finally, Little House Capital LLC increased its position in AT&T by 4.8% in the 3rd quarter. Little House Capital LLC now owns 11,619 shares of the technology company’s stock valued at $256,000 after acquiring an additional 537 shares during the period. 57.10% of the stock is currently owned by institutional investors.

About AT&T

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.