AT&T (NYSE:T) Trading Down 0.3% - Here's What Happened

Shares of AT&T Inc. (NYSE:T - Get Free Report) were down 0.3% during mid-day trading on Thursday . The stock traded as low as $26.68 and last traded at $26.76. Approximately 3,753,351 shares traded hands during trading, a decline of 89% from the average daily volume of 33,963,195 shares. The stock had previously closed at $26.84.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on T shares. Argus upgraded shares of AT&T from a "hold" rating to a "buy" rating and set a $27.00 price target on the stock in a research report on Thursday, January 16th. Tigress Financial upped their target price on shares of AT&T from $30.00 to $32.00 and gave the stock a "buy" rating in a research report on Tuesday, February 4th. Citigroup raised their price target on shares of AT&T from $26.00 to $28.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. boosted their price objective on shares of AT&T from $25.00 to $28.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 4th. Finally, Scotiabank increased their price objective on AT&T from $26.00 to $28.50 and gave the company a "sector outperform" rating in a research report on Monday, March 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, AT&T has an average rating of "Moderate Buy" and an average target price of $26.79.

Remove Ads

AT&T Price Performance

The company has a 50 day moving average of $25.13 and a 200 day moving average of $23.32. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The firm has a market cap of $193.45 billion, a price-to-earnings ratio of 18.09, a P/E/G ratio of 3.00 and a beta of 0.56.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. Equities research analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

Institutional Investors Weigh In On AT&T

Institutional investors have recently added to or reduced their stakes in the stock. Segall Bryant & Hamill LLC bought a new stake in AT&T in the 3rd quarter valued at approximately $1,030,000. Meridian Wealth Management LLC lifted its position in shares of AT&T by 1.2% in the third quarter. Meridian Wealth Management LLC now owns 59,034 shares of the technology company's stock worth $1,299,000 after purchasing an additional 703 shares in the last quarter. Certified Advisory Corp boosted its holdings in AT&T by 17.7% during the third quarter. Certified Advisory Corp now owns 34,562 shares of the technology company's stock worth $760,000 after purchasing an additional 5,195 shares during the last quarter. Great Valley Advisor Group Inc. grew its position in AT&T by 19.4% in the third quarter. Great Valley Advisor Group Inc. now owns 66,883 shares of the technology company's stock valued at $1,472,000 after purchasing an additional 10,854 shares in the last quarter. Finally, Cerity Partners LLC increased its stake in AT&T by 16.4% in the 3rd quarter. Cerity Partners LLC now owns 1,564,886 shares of the technology company's stock valued at $34,428,000 after buying an additional 220,574 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.