AT&T Inc. (NYSE:T – Get Free Report)’s share price gapped down prior to trading on Monday . The stock had previously closed at $19.12, but opened at $18.70. AT&T shares last traded at $18.41, with a volume of 4,938,027 shares trading hands.
Analysts Set New Price Targets
Several research firms have commented on T. The Goldman Sachs Group started coverage on AT&T in a research note on Monday, July 1st. They set a “buy” rating and a $22.00 price objective for the company. UBS Group reissued a “buy” rating and issued a $24.00 price objective on shares of AT&T in a research note on Tuesday, June 18th. Oppenheimer restated an “outperform” rating and issued a $21.00 price objective on shares of AT&T in a report on Tuesday, June 25th. BNP Paribas upgraded shares of AT&T from an “underperform” rating to a “neutral” rating in a research report on Tuesday, June 11th. Finally, Barclays raised shares of AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price target on the stock in a research note on Monday, April 29th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $21.85.
Read Our Latest Report on AT&T
AT&T Trading Up 5.2 %
AT&T (NYSE:T – Get Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.02. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The firm had revenue of $30.03 billion for the quarter, compared to the consensus estimate of $30.62 billion. During the same quarter in the previous year, the business earned $0.60 EPS. The company’s quarterly revenue was down .4% compared to the same quarter last year. On average, analysts predict that AT&T Inc. will post 2.23 EPS for the current fiscal year.
AT&T Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders 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 annualized dividend and a dividend yield of 5.79%. AT&T’s dividend payout ratio is presently 59.68%.
Institutional Investors Weigh In On AT&T
A number of hedge funds have recently added to or reduced their stakes in the business. Blackston Financial Advisory Group LLC purchased a new stake in shares of AT&T during the fourth quarter worth approximately $360,000. Schechter Investment Advisors LLC acquired a new stake in shares of AT&T in the 4th quarter valued at $269,000. Roberts Wealth Advisors LLC raised its holdings in shares of AT&T by 6.7% in the 4th quarter. Roberts Wealth Advisors LLC now owns 77,947 shares of the technology company’s stock valued at $1,308,000 after purchasing an additional 4,916 shares in the last quarter. Cultivar Capital Inc. purchased a new stake in shares of AT&T during the 4th quarter worth $182,000. Finally, Next Level Private LLC grew its stake in shares of AT&T by 1.4% during the fourth quarter. Next Level Private LLC now owns 213,809 shares of the technology company’s stock worth $3,588,000 after purchasing an additional 3,047 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.
Read More
- Five stocks we like better than AT&T
- What is the S&P 500 and How It is Distinct from Other Indexes
- Food Processing Company Stock Gets Fried by Recall: Time to Buy
- Special Purpose Acquisition Company (SPAC) What You Need to Know
- Entertainment Stock Offers A Rare and Tempting Entry Opportunity
- Using the MarketBeat Stock Split Calculator
- Will China’s Interest Rate Cuts Ignite a Rally for This Stock?
Receive News & Ratings for AT&T Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AT&T and related companies with MarketBeat.com's FREE daily email newsletter.