AT&T (NYSE:T) Stock Price Down 0.6%

AT&T Inc. (NYSE:T)’s stock price fell 0.6% during mid-day trading on Monday . The company traded as low as $18.98 and last traded at $18.99. 8,155,233 shares were traded during trading, a decline of 78% from the average session volume of 36,673,813 shares. The stock had previously closed at $19.11.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. StockNews.com downgraded shares of AT&T from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $17.00 target price on shares of AT&T in a research report on Thursday, April 11th. The Goldman Sachs Group started coverage on AT&T in a research note on Monday. They set a “buy” rating and a $22.00 price target for the company. Wolfe Research raised 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, BNP Paribas raised shares of AT&T from an “underperform” rating to a “neutral” rating in a research report on Tuesday, June 11th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, AT&T has an average rating of “Moderate Buy” and an average target price of $21.73.

AT&T Stock Performance

The stock’s 50-day moving average price is $17.57 and its 200 day moving average price is $17.18. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06. The company has a market cap of $135.52 billion, a P/E ratio of 10.21, a price-to-earnings-growth ratio of 4.34 and a beta of 0.58.

AT&T (NYSE:T) last announced its earnings results on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.53 by $0.02. The firm had revenue of $30.03 billion for 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 business’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter last year, the firm posted $0.60 EPS. As a group, research analysts expect that AT&T Inc. will post 2.24 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be paid a dividend of $0.2775 per share. The ex-dividend date is Wednesday, July 10th. This represents a $1.11 annualized dividend and a yield of 5.87%. AT&T’s payout ratio is 59.68%.

Hedge Funds Weigh In On AT&T

A number of institutional investors and hedge funds have recently bought and sold shares of T. Bright Futures Wealth Management LLC. bought a new stake in shares of AT&T in the 1st quarter worth approximately $207,000. Old Port Advisors boosted its stake in AT&T by 10.1% during the first quarter. Old Port Advisors now owns 108,875 shares of the technology company’s stock worth $1,916,000 after buying an additional 9,991 shares in the last quarter. Abich Financial Wealth Management LLC increased its holdings in AT&T by 54.6% in the 1st quarter. Abich Financial Wealth Management LLC now owns 9,161 shares of the technology company’s stock valued at $161,000 after buying an additional 3,237 shares during the period. Keynote Financial Services LLC acquired a new position in shares of AT&T in the 1st quarter valued at $1,922,000. Finally, EverSource Wealth Advisors LLC increased its stake in AT&T by 59.7% in the first quarter. EverSource Wealth Advisors LLC now owns 16,930 shares of the technology company’s stock valued at $286,000 after acquiring an additional 6,327 shares during the period. Institutional investors own 57.10% of the company’s stock.

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.