AT&T Inc. (NYSE:T - Get Free Report)'s share price rose 0.4% during mid-day trading on Tuesday . The stock traded as high as $22.22 and last traded at $22.20. Approximately 5,568,618 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 35,532,586 shares. The stock had previously closed at $22.11.
Wall Street Analysts Forecast Growth
Several research analysts have commented on the company. Wells Fargo & Company cut their price target on AT&T from $25.00 to $24.00 and set an "overweight" rating on the stock in a research report on Thursday, October 24th. JPMorgan Chase & Co. increased their price target on AT&T from $21.00 to $24.00 and gave the stock an "overweight" rating in a report on Thursday, July 25th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $22.00 target price on shares of AT&T in a report on Thursday, October 24th. Redburn Atlantic raised shares of AT&T to a "strong sell" rating in a report on Monday, September 16th. Finally, Evercore ISI raised their price target on AT&T from $19.00 to $21.00 and gave the company an "in-line" rating in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $23.40.
Check Out Our Latest Research Report on T
AT&T Price Performance
The stock has a 50-day moving average of $21.26 and a two-hundred day moving average of $19.19. The firm has a market cap of $159.04 billion, a price-to-earnings ratio of 18.13, a price-to-earnings-growth ratio of 3.74 and a beta of 0.60. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09.
AT&T (NYSE:T - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. During the same period last year, the business earned $0.64 EPS. The business's quarterly revenue was down .5% on a year-over-year basis. On average, analysts anticipate that AT&T Inc. will post 2.21 EPS for the current year.
AT&T Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.00%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T's dividend payout ratio (DPR) is 90.24%.
Institutional Investors Weigh In On AT&T
A number of hedge funds and other institutional investors have recently made changes to their positions in T. Vanguard Group Inc. lifted its stake in shares of AT&T by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company's stock worth $10,999,912,000 after buying an additional 2,588,539 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of AT&T by 7.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company's stock worth $1,549,375,000 after buying an additional 5,592,123 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of AT&T by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company's stock valued at $1,148,689,000 after purchasing an additional 1,569,374 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of AT&T by 2.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company's stock valued at $985,307,000 after acquiring an additional 1,007,228 shares during the last quarter. Finally, LSV Asset Management boosted its stake in shares of AT&T by 1.1% during the second quarter. LSV Asset Management now owns 30,092,610 shares of the technology company's stock valued at $575,070,000 after purchasing an additional 315,580 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.
AT&T Company Profile
(
Get Free Report)
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.
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