AT&T (NYSE:T) Stock Price Down 0.8% – Here’s Why

AT&T Inc. (NYSE:T)’s share price traded down 0.8% during trading on Tuesday . The stock traded as low as $22.68 and last traded at $22.81. 4,961,907 shares traded hands during trading, a decline of 86% from the average session volume of 35,375,734 shares. The stock had previously closed at $22.99.

Analysts Set New Price Targets

A number of analysts recently weighed in on T shares. TD Cowen boosted their target price on AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $22.00 price objective on shares of AT&T in a research note on Thursday, October 24th. Wells Fargo & Company decreased their target price on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Citigroup upped their price target 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. Finally, Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $23.40.

AT&T Trading Down 1.0 %

The stock has a market cap of $163.24 billion, a PE ratio of 18.54, a price-to-earnings-growth ratio of 3.40 and a beta of 0.59. The firm has a 50-day moving average price of $21.92 and a 200-day moving average price of $19.79. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73.

AT&T (NYSE:T) last issued its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.03. The firm had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business’s revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.64 earnings per share. As a group, equities analysts anticipate that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.88%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s payout ratio is 90.24%.

Hedge Funds Weigh In On AT&T

A number of hedge funds have recently bought and sold shares of the business. Strategic Financial Concepts LLC boosted its position in AT&T by 227.6% in the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after purchasing an additional 91,578 shares during the last quarter. Legacy Investment Solutions LLC purchased a new position in shares of AT&T in the third quarter worth approximately $25,000. Riggs Asset Managment Co. Inc. grew its position in AT&T by 356.5% during the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after buying an additional 1,116 shares during the period. Ritter Daniher Financial Advisory LLC DE increased its holdings in AT&T by 169.2% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after buying an additional 841 shares during the last quarter. Finally, American Capital Advisory LLC raised its position in AT&T by 107.5% in the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after acquiring an additional 807 shares during the period. Hedge funds and other institutional investors 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.