Vetr cut shares of AT&T Inc. (NYSE:T) from a buy rating to a hold rating in a research note released on Wednesday morning. The firm currently has $40.78 price target on the stock.

Other analysts have also recently issued research reports about the stock. S&P Equity Research set a $46.00 price objective on shares of AT&T and gave the stock a buy rating in a research note on Sunday, July 24th. Wells Fargo & Co. reiterated a buy rating on shares of AT&T in a research report on Friday, July 22nd. Barclays PLC upped their price objective on shares of AT&T from $42.00 to $45.00 and gave the stock an overweight rating in a research report on Friday, July 15th. Jefferies Group reiterated a buy rating on shares of AT&T in a research report on Wednesday, August 3rd. Finally, Argus reiterated a buy rating and set a $51.00 price objective (up from $45.00) on shares of AT&T in a research report on Tuesday, July 26th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have issued a buy rating to the company. The company has a consensus rating of Hold and an average target price of $41.86.

Analyst Recommendations for AT&T (NYSE:T)

Shares of AT&T (NYSE:T) opened at 39.075 on Wednesday. The company has a market capitalization of $240.39 billion, a PE ratio of 16.850 and a beta of 0.30. The firm’s 50-day moving average is $40.43 and its 200-day moving average is $40.52. AT&T has a 12-month low of $32.22 and a 12-month high of $43.89.

AT&T (NYSE:T) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.72 EPS for the quarter, meeting analysts’ consensus estimates of $0.72. AT&T had a net margin of 8.76% and a return on equity of 13.93%. The company earned $40.50 billion during the quarter, compared to the consensus estimate of $40.75 billion. On average, equities research analysts anticipate that AT&T will post $2.86 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Monday, October 10th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 4.88%. The ex-dividend date of this dividend is Wednesday, October 5th. AT&T’s dividend payout ratio (DPR) is presently 83.12%.

In other AT&T news, CEO John T. Stankey sold 2,131 shares of AT&T stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $43.38, for a total transaction of $92,442.78. Following the transaction, the chief executive officer now directly owns 13,583 shares of the company’s stock, valued at $589,230.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.07% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Proficio Capital Partners LLC increased its position in shares of AT&T by 170.8% in the second quarter. Proficio Capital Partners LLC now owns 2,361 shares of the company’s stock valued at $101,000 after buying an additional 1,489 shares during the last quarter. Taylor Wealth Management Partners increased its position in shares of AT&T by 38.1% in the second quarter. Taylor Wealth Management Partners now owns 2,539 shares of the company’s stock valued at $110,000 after buying an additional 700 shares during the last quarter. WealthTrust Arizona LLC increased its position in shares of AT&T by 13.0% in the second quarter. WealthTrust Arizona LLC now owns 2,612 shares of the company’s stock valued at $113,000 after buying an additional 300 shares during the last quarter. Wealthcare Capital Management LLC purchased a new position in shares of AT&T during the second quarter valued at approximately $117,000. Finally, Invictus RG increased its position in shares of AT&T by 266.4% in the first quarter. Invictus RG now owns 3,521 shares of the company’s stock valued at $138,000 after buying an additional 2,560 shares during the last quarter. 53.64% of the stock is currently owned by institutional investors.

About AT&T

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.

5 Day Chart for NYSE:T

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