AT&T (NYSE:T) Shares Gap Down to $17.60

AT&T Inc. (NYSE:TGet Free Report) shares gapped down before the market opened on Monday . The stock had previously closed at $17.60, but opened at $17.19. AT&T shares last traded at $17.30, with a volume of 7,464,771 shares trading hands.

Analysts Set New Price Targets

Several research firms recently commented on T. TheStreet raised shares of AT&T from a “c” rating to a “b-” rating in a research note on Wednesday, January 24th. JPMorgan Chase & Co. upgraded shares of AT&T from a “neutral” rating to an “overweight” rating and increased their price target for the company from $18.00 to $21.00 in a report on Thursday, February 1st. Wells Fargo & Company increased their target price on AT&T from $17.00 to $20.00 and gave the company an “overweight” rating in a research note on Wednesday, December 13th. Wolfe Research upgraded AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price target for the company in a research note on Tuesday, March 5th. Finally, Citigroup increased their price objective on AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, AT&T has an average rating of “Moderate Buy” and an average target price of $21.61.

View Our Latest Report on AT&T

AT&T Stock Performance

The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The company has a market cap of $125.46 billion, a P/E ratio of 8.95, a PEG ratio of 2.64 and a beta of 0.57. The business’s 50 day simple moving average is $17.17 and its 200 day simple moving average is $16.36.

AT&T (NYSE:TGet Free Report) last announced its quarterly earnings data on Wednesday, January 24th. The technology company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.01). The firm had revenue of $32 billion for the quarter, compared to the consensus estimate of $31.44 billion. AT&T had a net margin of 11.76% and a return on equity of 15.39%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.61 earnings per share. Sell-side analysts predict that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a yield of 6.33%. AT&T’s dividend payout ratio is presently 56.63%.

Hedge Funds Weigh In On AT&T

Several institutional investors have recently bought and sold shares of the stock. Pineridge Advisors LLC purchased a new position in shares of AT&T in the 4th quarter worth approximately $25,000. Frank Rimerman Advisors LLC purchased a new position in shares of AT&T during the fourth quarter worth approximately $25,000. Carmel Capital Partners LLC raised its holdings in shares of AT&T by 16,250.0% in the third quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock valued at $25,000 after acquiring an additional 1,625 shares in the last quarter. FWL Investment Management LLC purchased a new stake in AT&T during the fourth quarter worth $31,000. Finally, Financial Freedom LLC purchased a new stake in shares of AT&T during the fourth quarter valued at about $34,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

About AT&T

(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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