AT&T (NYSE:T) Trading Down 0% – Here’s What Happened

AT&T Inc. (NYSE:T) fell 0% on Monday . The stock traded as low as $21.30 and last traded at $21.36. 3,878,976 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 35,535,699 shares. The stock had previously closed at $21.37.

Wall Street Analyst Weigh In

A number of analysts have commented on T shares. Scotiabank lowered AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Tigress Financial increased their price target on AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Oppenheimer lifted their price objective on shares of AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Moffett Nathanson increased their target price on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Finally, The Goldman Sachs Group started coverage on shares of AT&T in a research report on Monday, July 1st. They set a “buy” rating and a $22.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, AT&T has an average rating of “Moderate Buy” and a consensus price target of $22.69.

AT&T Price Performance

The business’s 50-day simple moving average is $20.81 and its two-hundred day simple moving average is $18.89. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. The stock has a market cap of $155.59 billion, a P/E ratio of 11.67, a price-to-earnings-growth ratio of 3.62 and a beta of 0.60.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The business had revenue of $29.80 billion during the quarter, compared to analyst estimates of $30.05 billion. During the same period in the previous year, the business earned $0.63 EPS. AT&T’s revenue was down .3% compared to the same quarter last year. Sell-side analysts expect that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 5.12%. The ex-dividend date is Thursday, October 10th. AT&T’s payout ratio is presently 59.68%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of T. Strategic Financial Concepts LLC increased its holdings in shares of AT&T by 227.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after buying an additional 91,578 shares during the last quarter. Riggs Asset Managment Co. Inc. raised its position in AT&T by 356.5% during the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after purchasing an additional 1,116 shares in the last quarter. American Capital Advisory LLC lifted its stake in AT&T by 107.5% during the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after purchasing an additional 807 shares during the last quarter. Altshuler Shaham Ltd purchased a new position in shares of AT&T in the 2nd quarter worth about $30,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in shares of AT&T by 176.6% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock valued at $35,000 after purchasing an additional 1,192 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

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.