AT&T (NYSE:T) Stock Price Down 1.5%

AT&T Inc. (NYSE:T) dropped 1.5% during trading on Tuesday . The stock traded as low as $15.98 and last traded at $16.00. Approximately 14,588,384 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 38,166,844 shares. The stock had previously closed at $16.24.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Citigroup increased their price objective on shares of AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Barclays raised their price target on AT&T from $17.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 31st. TheStreet upgraded AT&T from a “c” rating to a “b-” rating in a research note on Wednesday, January 24th. Wolfe Research upgraded AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research note on Tuesday, March 5th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of AT&T from $23.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $20.68.

AT&T Stock Down 1.2 %

The company has a debt-to-equity ratio of 1.09, a current ratio of 0.71 and a quick ratio of 0.67. The firm has a market capitalization of $114.80 billion, a P/E ratio of 8.16, a PEG ratio of 2.46 and a beta of 0.57. The firm’s fifty day moving average price is $17.07 and its 200-day moving average price is $16.48.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, January 24th. The technology company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). AT&T had a return on equity of 15.39% and a net margin of 11.76%. The firm had revenue of $32 billion during the quarter, compared to the consensus estimate of $31.44 billion. During the same period in the prior year, the firm posted $0.61 EPS. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. As a group, equities research analysts forecast that AT&T Inc. will post 2.21 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be paid a $0.2775 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.11 annualized dividend and a dividend yield of 6.92%. AT&T’s dividend payout ratio is currently 56.63%.

Institutional Trading of AT&T

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pineridge Advisors LLC purchased a new stake in AT&T during the fourth quarter valued at about $25,000. Frank Rimerman Advisors LLC purchased a new stake in shares of AT&T in the 4th quarter valued at approximately $25,000. Carmel Capital Partners LLC lifted its position in shares of AT&T by 16,250.0% in the 3rd 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 acquired a new position in AT&T in the 4th quarter worth approximately $31,000. Finally, Financial Freedom LLC purchased a new position in AT&T during the 4th quarter worth approximately $34,000. 57.10% of the stock is owned by institutional investors and hedge funds.

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.