AT&T (NYSE:T) Stock Price Down 0.5% – Time to Sell?

by · The Markets Daily

AT&T Inc. (NYSE:T – Get Free Report) was down 0.5% during trading on Monday . The company traded as low as $22.01 and last traded at $22.02. Approximately 4,471,618 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 35,635,566 shares. The stock had previously closed at $22.12.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on T. 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. Royal Bank of Canada reiterated a “sector perform” rating and set a $22.00 price objective on shares of AT&T in a report on Thursday, October 24th. TD Cowen raised their price target on shares of AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Daiwa America upgraded shares of AT&T to a “hold” rating in a report on Friday, July 26th. Finally, Scotiabank lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $23.40.

Check Out Our Latest Stock Analysis on T

AT&T Price Performance

The company’s 50 day moving average price is $21.47 and its 200-day moving average price is $19.36. The company has a market cap of $156.92 billion, a price-to-earnings ratio of 17.90, a PEG ratio of 3.38 and a beta of 0.59. 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 – Get Free Report) last announced its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. The company had revenue of $30.20 billion during the quarter, compared to analysts’ expectations 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 for the quarter was down .5% on a year-over-year basis. During the same period last year, the company posted $0.64 earnings per share. On average, equities research analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 5.08%. The ex-dividend date was Thursday, October 10th. AT&T’s dividend payout ratio is currently 90.24%.

Hedge Funds Weigh In On AT&T

Institutional investors have recently modified their holdings of the company. Strategic Financial Concepts LLC raised its position in shares of AT&T by 227.6% in the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after purchasing an additional 91,578 shares during the period. Riggs Asset Managment Co. Inc. increased 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 worth $27,000 after acquiring an additional 1,116 shares during the period. American Capital Advisory LLC increased its position in AT&T by 107.5% during 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. Altshuler Shaham Ltd bought a new position in AT&T during the second quarter worth $30,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in AT&T by 176.6% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock valued at $35,000 after buying an additional 1,192 shares during the period. Institutional investors own 57.10% of the company’s stock.

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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