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

AT&T Inc. (NYSE:T)’s stock price traded down 0.6% during trading on Monday . The company traded as low as $18.98 and last traded at $18.99. 8,155,233 shares changed hands during mid-day 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

Several equities research analysts have recently weighed in on the stock. BNP Paribas upgraded shares of AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 11th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $17.00 price objective on shares of AT&T in a research report on Thursday, April 11th. UBS Group reissued a “buy” rating and issued a $24.00 target price on shares of AT&T in a report on Tuesday, June 18th. 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 report on Tuesday, March 5th. Finally, Barclays upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price objective on the stock in a research report on Monday, April 29th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $21.73.

AT&T Price Performance

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

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating 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 for the quarter was down .4% on a year-over-year basis. During the same period last year, the firm earned $0.60 EPS. Research analysts forecast that AT&T Inc. will post 2.24 earnings per share for the current fiscal year.

AT&T Dividend Announcement

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

Institutional Investors Weigh In On AT&T

A number of large investors have recently bought and sold shares of the stock. Cantor Fitzgerald Investment Advisors L.P. acquired a new stake in AT&T in the 4th quarter worth about $11,554,000. Provence Wealth Management Group lifted its holdings in shares of AT&T by 55.8% during the 4th quarter. Provence Wealth Management Group now owns 16,217 shares of the technology company’s stock worth $272,000 after acquiring an additional 5,807 shares during the period. Clearbridge Investments LLC boosted its position in shares of AT&T by 250.3% in the fourth quarter. Clearbridge Investments LLC now owns 67,303 shares of the technology company’s stock worth $1,129,000 after acquiring an additional 48,091 shares during the last quarter. Retireful LLC purchased a new stake in AT&T in the fourth quarter valued at approximately $1,163,000. Finally, Brighton Jones LLC increased its position in AT&T by 12.6% during the fourth quarter. Brighton Jones LLC now owns 46,265 shares of the technology company’s stock worth $776,000 after purchasing an additional 5,161 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

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.