AT&T Inc. (T) Lowered to Sell at Zacks Investment Research
According to Zacks, “AT&T operates in a saturated wireless market where spectrum crunch is a big issue. Moreover, loss in access lines, stringent regulatory measures and union issues are major headwinds. Additionally, persistent losses in its wireline division is a worry. The company has also been facing intense competition from peers, compelling it to lower the price of its services. This will dent AT&T's margins going ahead. Additionally, the entry of cable MSOs like Comcast and Charter Communications will intensify competition. Meanwhile, AT&T has been dormant in the mobile advertising space and active on the IoT and 5G front.”
T has been the topic of a number of other reports. Jefferies Group reiterated a buy rating and issued a $48.00 target price on shares of AT&T in a report on Thursday, September 15th. Barclays PLC reiterated a buy rating and issued a $45.00 target price on shares of AT&T in a report on Monday, September 26th. Vetr cut AT&T from a buy rating to a hold rating and set a $41.37 target price on the stock. in a report on Tuesday, June 7th. Finally, HSBC upgraded AT&T from a reduce rating to a hold rating and set a $38.00 target price on the stock in a report on Monday, September 26th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and fifteen have given a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $41.62.
Shares of AT&T (NYSE:T) opened at 40.77 on Monday. The company has a market cap of $250.82 billion, a PE ratio of 17.58 and a beta of 0.30. AT&T has a 12 month low of $32.22 and a 12 month high of $43.89. The stock has a 50 day moving average of $40.90 and a 200-day moving average of $40.52.
AT&T (NYSE:T) last issued its earnings results on Thursday, July 21st. The company reported $0.72 earnings per share (EPS) 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 company had revenue of $40.50 billion for the quarter, compared to analysts’ expectations of $40.75 billion. Equities analysts forecast that AT&T will post $2.86 earnings per share for the current year.
The company 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 dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date of this dividend is Wednesday, October 5th. AT&T’s dividend payout ratio (DPR) is presently 83.12%.
In related news, CEO John T. Stankey sold 2,131 shares of the company’s stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $43.38, for a total transaction of $92,442.78. Following the completion of the sale, the chief executive officer now owns 13,583 shares in the company, valued at $589,230.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.07% of the company’s stock.
A number of hedge funds have recently bought and sold shares of T. Family Firm Inc. boosted its stake in shares of AT&T by 0.5% in the second quarter. Family Firm Inc. now owns 7,536 shares of the company’s stock worth $326,000 after buying an additional 35 shares during the last quarter. Delphi Private Advisors LLC raised its position in AT&T by 0.9% in the second quarter. Delphi Private Advisors LLC now owns 5,074 shares of the company’s stock worth $219,000 after buying an additional 44 shares during the period. Cornerstone Investment Partners LLC raised its position in AT&T by 0.6% in the second quarter. Cornerstone Investment Partners LLC now owns 9,554 shares of the company’s stock worth $413,000 after buying an additional 54 shares during the period. Cohen Lawrence B raised its position in AT&T by 0.4% in the second quarter. Cohen Lawrence B now owns 13,585 shares of the company’s stock worth $587,000 after buying an additional 60 shares during the period. Finally, Highland Private Wealth Management raised its position in AT&T by 0.6% in the second quarter. Highland Private Wealth Management now owns 10,720 shares of the company’s stock worth $464,000 after buying an additional 60 shares during the period. Institutional investors own 53.64% of the company’s stock.
AT&T Company Profile
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.
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