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

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on T shares. JPMorgan Chase & Co. increased their price objective on shares of AT&T from $25.00 to $28.00 and gave the company an "overweight" rating in a research note on Wednesday, December 4th. BNP Paribas upgraded AT&T from a "neutral" rating to an "outperform" rating and set a $28.50 price target on the stock in a report on Thursday, February 13th. Scotiabank upped their price objective on AT&T from $26.00 to $28.50 and gave the stock a "sector outperform" rating in a research note on Monday, March 3rd. Tigress Financial lifted their target price on AT&T from $30.00 to $32.00 and gave the company a "buy" rating in a research note on Tuesday, February 4th. Finally, Sanford C. Bernstein increased their price target on shares of AT&T from $28.00 to $29.00 and gave the company an "outperform" rating in a research report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $26.79.

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AT&T Trading Up 0.9 %

The stock has a 50-day moving average of $25.13 and a 200 day moving average of $23.30. The stock has a market cap of $194.06 billion, a PE ratio of 18.14, a price-to-earnings-growth ratio of 3.00 and a beta of 0.56. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00.

AT&T (NYSE:T - Get Free Report) last posted its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. As a group, sell-side analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current year.

Institutional Investors Weigh In On AT&T

A number of institutional investors have recently modified their holdings of the business. Carolinas Wealth Consulting LLC increased its position in shares of AT&T by 1.6% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company's stock valued at $550,000 after buying an additional 384 shares in the last quarter. Buska Wealth Management LLC increased its holdings in AT&T by 3.2% in the 4th quarter. Buska Wealth Management LLC now owns 13,391 shares of the technology company's stock worth $305,000 after acquiring an additional 412 shares in the last quarter. 1620 Investment Advisors Inc. raised its position in AT&T by 1.6% during the fourth quarter. 1620 Investment Advisors Inc. now owns 26,161 shares of the technology company's stock worth $596,000 after acquiring an additional 421 shares during the period. Tradewinds Capital Management LLC lifted its holdings in AT&T by 48.6% during the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company's stock valued at $30,000 after purchasing an additional 430 shares in the last quarter. Finally, BNP Paribas grew its position in shares of AT&T by 1.0% in the fourth quarter. BNP Paribas now owns 41,716 shares of the technology company's stock valued at $942,000 after purchasing an additional 430 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Company Profile

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.