AT&T (NYSE:T) Shares Down 2.7% - Time to Sell?

AT&T Inc. (NYSE:T - Get Free Report) shares traded down 2.7% during trading on Friday . The stock traded as low as $26.90 and last traded at $26.87. 9,289,914 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 36,339,868 shares. The stock had previously closed at $27.62.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. UBS Group reissued a "buy" rating and set a $31.00 price target (up from $30.00) on shares of AT&T in a report on Wednesday, June 18th. Morgan Stanley reiterated an "overweight" rating and set a $31.00 price objective (up previously from $30.00) on shares of AT&T in a research report on Thursday, April 24th. JPMorgan Chase & Co. raised their target price on shares of AT&T from $28.00 to $31.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. Cowen reissued a "hold" rating on shares of AT&T in a research note on Thursday, April 24th. Finally, Scotiabank raised their price objective on AT&T from $29.50 to $30.00 and gave the stock a "sector outperform" rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $29.12.

AT&T Trading Down 2.4%

The company has a quick ratio of 0.65, a current ratio of 0.70 and a debt-to-equity ratio of 0.98. The company has a 50-day moving average price of $27.84 and a 200-day moving average price of $26.27. The company has a market capitalization of $193.89 billion, a price-to-earnings ratio of 16.54, a P/E/G ratio of 3.51 and a beta of 0.42.

AT&T (NYSE:T - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). The company had revenue of $30.63 billion for the quarter, compared to the consensus estimate of $30.39 billion. AT&T had a return on equity of 13.63% and a net margin of 9.64%. The business's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.55 EPS. Research analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be given a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.12%. The ex-dividend date of this dividend is Thursday, July 10th. AT&T's dividend payout ratio (DPR) is presently 68.10%.

Hedge Funds Weigh In On AT&T

Several hedge funds and other institutional investors have recently modified their holdings of T. Minot DeBlois Advisors LLC acquired a new position in AT&T during the 4th quarter worth about $25,000. Capital A Wealth Management LLC bought a new position in AT&T in the 4th quarter worth approximately $25,000. Stone House Investment Management LLC bought a new position in AT&T in the 1st quarter worth approximately $25,000. O Brien Wealth Partners LLC acquired a new position in AT&T during the 2nd quarter worth $26,000. Finally, Putney Financial Group LLC bought a new position in AT&T in the 4th quarter valued at $27,000. Institutional investors own 57.10% of the company's stock.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.

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