AT&T (NYSE:T) Shares Down 0.4% – Here’s What Happened

AT&T Inc. (NYSE:T) dropped 0.4% on Monday . The company traded as low as $22.25 and last traded at $22.25. Approximately 4,321,824 shares changed hands during trading, a decline of 88% from the average daily volume of 35,482,516 shares. The stock had previously closed at $22.34.

Analyst Ratings Changes

T has been the subject of a number of research reports. Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. Oppenheimer upped their target price on AT&T from $23.00 to $24.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Citigroup boosted their price objective on shares of AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Tigress Financial boosted their price target on shares of AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Finally, Moffett Nathanson raised their price objective on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $23.40.

AT&T Stock Up 0.7 %

The company’s fifty day simple moving average is $21.79 and its 200 day simple moving average is $19.63. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $160.01 billion, a P/E ratio of 18.13, a price-to-earnings-growth ratio of 3.33 and a beta of 0.59.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The company had revenue of $30.20 billion during 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%. AT&T’s revenue was down .5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 earnings per share. Research analysts expect that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.98%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

Institutional Investors Weigh In On AT&T

A number of institutional investors have recently modified their holdings of T. Ritter Daniher Financial Advisory LLC DE increased its holdings in AT&T by 169.2% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after buying an additional 841 shares in the last quarter. Riggs Asset Managment Co. Inc. grew its stake in shares of AT&T by 356.5% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after acquiring an additional 1,116 shares during the period. American Capital Advisory LLC raised its holdings in shares of AT&T by 107.5% during the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after purchasing an additional 807 shares during the last quarter. Reston Wealth Management LLC bought a new position in AT&T during the third quarter valued at approximately $35,000. Finally, Altshuler Shaham Ltd purchased a new stake in AT&T in the second quarter worth approximately $30,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

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.