AT&T (NYSE:T) Trading Down 0.8% - What's Next?

Shares of AT&T Inc. (NYSE:T - Get Free Report) were down 0.8% on Wednesday . The company traded as low as $21.97 and last traded at $22.01. Approximately 7,179,802 shares were traded during trading, a decline of 80% from the average daily volume of 35,522,324 shares. The stock had previously closed at $22.18.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Moffett Nathanson increased their price objective on shares of AT&T from $17.00 to $18.00 and gave the company a "neutral" rating in a research report on Thursday, August 15th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $22.00 target price on shares of AT&T in a research report on Thursday, October 24th. Wells Fargo & Company decreased their price target on AT&T from $25.00 to $24.00 and set an "overweight" rating for the company in a research note on Thursday, October 24th. Citigroup boosted their target price on shares of AT&T from $21.00 to $24.00 and gave the company a "buy" rating in a research note on Wednesday, September 11th. Finally, Barclays increased their price objective on shares of AT&T from $22.00 to $24.00 and gave the stock an "overweight" rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, AT&T has a consensus rating of "Moderate Buy" and a consensus target price of $23.40.

AT&T Trading Down 0.8 %

The firm has a market cap of $157.82 billion, a P/E ratio of 17.89, a PEG ratio of 3.74 and a beta of 0.60. The business has a 50 day moving average of $21.36 and a two-hundred day moving average of $19.25. 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 issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating analysts' consensus estimates of $0.57 by $0.03. The firm had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company's revenue for the quarter was down .5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.64 EPS. Analysts predict that AT&T Inc. will post 2.21 earnings per share for the current year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 5.04%. The ex-dividend date is Thursday, October 10th. AT&T's dividend payout ratio (DPR) is currently 90.24%.

Institutional Trading of AT&T

Large investors have recently made changes to their positions in the company. Miracle Mile Advisors LLC raised its holdings in AT&T by 3.1% in the 1st quarter. Miracle Mile Advisors LLC now owns 35,699 shares of the technology company's stock valued at $628,000 after buying an additional 1,061 shares during the last quarter. Valley National Advisers Inc. increased its position in shares of AT&T by 3.7% during the first quarter. Valley National Advisers Inc. now owns 26,934 shares of the technology company's stock worth $474,000 after acquiring an additional 958 shares in the last quarter. Kovack Advisors Inc. raised its position in AT&T by 8.0% in the 1st quarter. Kovack Advisors Inc. now owns 169,908 shares of the technology company's stock valued at $2,990,000 after buying an additional 12,584 shares during the last quarter. First Trust Direct Indexing L.P. lifted its position in shares of AT&T by 3.8% during the 1st quarter. First Trust Direct Indexing L.P. now owns 191,305 shares of the technology company's stock worth $3,367,000 after buying an additional 6,932 shares in the last quarter. Finally, Uncommon Cents Investing LLC grew its position in AT&T by 2.6% during the first quarter. Uncommon Cents Investing LLC now owns 29,000 shares of the technology company's stock valued at $510,000 after buying an additional 735 shares during the period. Institutional investors and hedge funds own 57.10% of the company's stock.

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.