AT&T (NYSE:T) Shares Down 0.1%

AT&T Inc. (NYSE:T)’s share price dropped 0.1% during mid-day trading on Wednesday . The stock traded as low as $17.00 and last traded at $17.06. Approximately 4,735,313 shares were traded during trading, a decline of 88% from the average daily volume of 38,424,828 shares. The stock had previously closed at $17.08.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on T. Oppenheimer raised shares of AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a research report on Friday, January 19th. Citigroup boosted their price target on AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Barclays raised AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price objective on the stock in a research report on Monday, April 29th. TheStreet upgraded AT&T from a “c” rating to a “b-” rating in a research note on Wednesday, January 24th. Finally, StockNews.com lowered shares of AT&T from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, AT&T presently has an average rating of “Moderate Buy” and an average target price of $20.81.

AT&T Trading Up 0.1 %

The business’s 50-day moving average is $16.98 and its two-hundred day moving average is $16.69. The stock has a market capitalization of $122.65 billion, a PE ratio of 9.17, a PEG ratio of 3.32 and a beta of 0.57. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06.

AT&T (NYSE:T) last announced its earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The firm had revenue of $30.03 billion during the quarter, compared to analysts’ expectations of $30.62 billion. During the same period in the prior year, the firm earned $0.60 EPS. The business’s revenue was down .4% on a year-over-year basis. On average, analysts anticipate that AT&T Inc. will post 2.24 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 6.49%. The ex-dividend date of this dividend was Tuesday, April 9th. AT&T’s dividend payout ratio is currently 59.68%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of T. Vanguard Group Inc. raised its position in AT&T by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 622,406,459 shares of the technology company’s stock worth $10,443,980,000 after buying an additional 2,155,232 shares during the last quarter. Newport Trust Company LLC lifted its position in AT&T by 0.3% in the third quarter. Newport Trust Company LLC now owns 199,998,040 shares of the technology company’s stock valued at $3,003,971,000 after purchasing an additional 673,043 shares during the period. Bank of New York Mellon Corp boosted its holdings in AT&T by 5.6% in the 1st quarter. Bank of New York Mellon Corp now owns 75,484,518 shares of the technology company’s stock valued at $1,328,528,000 after purchasing an additional 4,014,873 shares in the last quarter. Northern Trust Corp increased its position in AT&T by 2.5% during the 3rd quarter. Northern Trust Corp now owns 75,158,354 shares of the technology company’s stock worth $1,128,878,000 after purchasing an additional 1,828,237 shares during the period. Finally, Norges Bank purchased a new position in shares of AT&T during the 4th quarter worth approximately $1,118,288,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

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.