AT&T (NYSE:T) Shares Down 0% - What's Next?

AT&T Inc. (NYSE:T - Get Free Report)'s stock price traded down 0% on Monday . The company traded as low as $21.30 and last traded at $21.36. 3,878,976 shares changed hands during trading, a decline of 89% from the average session volume of 35,535,699 shares. The stock had previously closed at $21.37.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Citigroup increased their target price on shares of AT&T from $21.00 to $24.00 and gave the company a "buy" rating in a research report on Wednesday, September 11th. Daiwa America raised shares of AT&T to a "hold" rating in a research report on Friday, July 26th. JPMorgan Chase & Co. raised their price objective on shares of AT&T from $21.00 to $24.00 and gave the stock an "overweight" rating in a research report on Thursday, July 25th. Royal Bank of Canada raised their price objective on shares of AT&T from $18.00 to $19.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 25th. Finally, Oppenheimer raised their price objective on shares of AT&T from $21.00 to $23.00 and gave the stock an "outperform" rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $22.69.

AT&T Trading Down 0.5 %

The stock has a market cap of $152.44 billion, a PE ratio of 11.48, a P/E/G ratio of 3.62 and a beta of 0.60. The firm has a 50-day simple moving average of $20.71 and a 200-day simple moving average of $18.84. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The company had revenue of $29.80 billion for the quarter, compared to the consensus estimate of $30.05 billion. During the same quarter last year, the business posted $0.63 earnings per share. The firm's revenue was down .3% compared to the same quarter last year. Equities analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be given a dividend of $0.2775 per share. The ex-dividend date is Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.22%. AT&T's payout ratio is 59.68%.

Institutional Investors Weigh In On AT&T

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of AT&T by 0.4% during the first quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company's stock valued at $10,999,912,000 after buying an additional 2,588,539 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of AT&T by 7.4% during the second quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company's stock valued at $1,549,375,000 after buying an additional 5,592,123 shares during the last quarter. Legal & General Group Plc grew its stake in shares of AT&T by 2.7% during the second quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company's stock valued at $1,148,689,000 after buying an additional 1,569,374 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of AT&T by 2.0% during the second quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company's stock valued at $985,307,000 after buying an additional 1,007,228 shares during the last quarter. Finally, LSV Asset Management grew its stake in shares of AT&T by 1.1% in the second quarter. LSV Asset Management now owns 30,092,610 shares of the technology company's stock worth $575,070,000 after purchasing an additional 315,580 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company's stock.

AT&T Company Profile

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.