AT&T (NYSE:T) Downgraded by StockNews.com

StockNews.com downgraded shares of AT&T (NYSE:T) from a buy rating to a hold rating in a report issued on Friday morning.

Several other analysts have also recently weighed in on T. TheStreet raised AT&T from a c rating to a b- rating in a report on Wednesday, January 24th. Royal Bank of Canada reaffirmed a sector perform rating and set a $17.00 target price on shares of AT&T in a report on Thursday, April 11th. Wolfe Research upgraded AT&T from a peer perform rating to an outperform rating and set a $21.00 price target on the stock in a research report on Tuesday, March 5th. Citigroup upped their price objective on AT&T from $19.00 to $20.00 and gave the company a buy rating in a report on Thursday, February 1st. Finally, Oppenheimer upgraded AT&T from a market perform rating to an outperform rating and set a $21.00 target price on the stock in a report on Friday, January 19th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $20.81.

AT&T Stock Performance

Shares of NYSE:T opened at $16.85 on Friday. The business has a fifty day moving average of $16.97 and a 200-day moving average of $16.67. The firm has a market cap of $120.52 billion, a PE ratio of 9.06, a price-to-earnings-growth ratio of 3.32 and a beta of 0.57. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.63 and a current ratio of 0.68. AT&T has a twelve month low of $13.43 and a twelve month high of $18.16.

AT&T (NYSE:T) last announced its earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The company had revenue of $30.03 billion during the quarter, compared to the consensus estimate of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The company’s revenue was down .4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.60 earnings per share. On average, equities research analysts predict that AT&T will post 2.24 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th were paid a dividend of $0.2775 per share. The ex-dividend date was Tuesday, April 9th. This represents a $1.11 annualized dividend and a dividend yield of 6.59%. AT&T’s dividend payout ratio is presently 59.68%.

Institutional Investors Weigh In On AT&T

Hedge funds have recently bought and sold shares of the company. Miracle Mile Advisors LLC grew its holdings in AT&T by 46.0% in the 3rd quarter. Miracle Mile Advisors LLC now owns 38,075 shares of the technology company’s stock valued at $572,000 after buying an additional 11,989 shares in the last quarter. Intellectus Partners LLC increased its position in AT&T by 11.0% during the third quarter. Intellectus Partners LLC now owns 17,791 shares of the technology company’s stock worth $267,000 after acquiring an additional 1,760 shares during the period. Kennedy Investment Group raised its stake in AT&T by 39.7% in the 3rd quarter. Kennedy Investment Group now owns 26,920 shares of the technology company’s stock worth $404,000 after purchasing an additional 7,655 shares in the last quarter. Jacobsen Capital Management bought a new stake in AT&T in the 3rd quarter valued at about $238,000. Finally, Godsey & Gibb Inc. grew its position in shares of AT&T by 3.6% during the 3rd quarter. Godsey & Gibb Inc. now owns 819,459 shares of the technology company’s stock worth $12,308,000 after purchasing an additional 28,112 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

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.