AT&T (NYSE:T) Stock Price Down 0.5%

Shares of AT&T Inc. (NYSE:T - Get Free Report) dropped 0.5% during trading on Wednesday . The stock traded as low as $16.38 and last traded at $16.42. Approximately 28,451,332 shares changed hands during mid-day trading, a decline of 27% from the average daily volume of 38,716,324 shares. The stock had previously closed at $16.50.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on T shares. TheStreet raised shares of AT&T from a "c" rating to a "b-" rating in a research report on Wednesday, January 24th. Barclays lifted their price objective on shares of AT&T from $17.00 to $20.00 and gave the stock an "equal weight" rating in a research report on Wednesday, January 31st. 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. Oppenheimer upgraded shares of AT&T from a "market perform" rating to an "outperform" rating and set a $21.00 price target on the stock in a research note on Friday, January 19th. Finally, Tigress Financial lifted their price target on shares of AT&T from $28.00 to $29.00 and gave the stock a "buy" rating in a research note on Wednesday, January 31st. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $20.50.

AT&T Stock Up 1.9 %

The stock has a market capitalization of $120.24 billion, a PE ratio of 8.58, a PEG ratio of 2.46 and a beta of 0.57. The firm's fifty day moving average is $16.98 and its 200-day moving average is $16.54. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T - Get Free Report) last issued its earnings results on Wednesday, January 24th. The technology company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.01). AT&T had a return on equity of 15.39% and a net margin of 11.76%. The company had revenue of $32 billion for the quarter, compared to analyst estimates of $31.44 billion. During the same quarter in the previous year, the company posted $0.61 earnings per share. The company's quarterly revenue was up 2.2% compared to the same quarter last year. On average, equities research analysts predict that AT&T Inc. will post 2.21 earnings per share for the current year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.11 annualized dividend and a yield of 6.60%. AT&T's payout ratio is currently 56.63%.

Institutional Trading of AT&T

Several large investors have recently modified their holdings of the business. Texas Capital Bank Wealth Management Services Inc lifted its stake in AT&T by 1.7% in the fourth quarter. Texas Capital Bank Wealth Management Services Inc now owns 35,098 shares of the technology company's stock valued at $589,000 after acquiring an additional 598 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA lifted its stake in AT&T by 35.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company's stock valued at $39,000 after acquiring an additional 606 shares during the last quarter. JB Capital LLC lifted its stake in AT&T by 2.4% in the fourth quarter. JB Capital LLC now owns 26,620 shares of the technology company's stock valued at $447,000 after acquiring an additional 614 shares during the last quarter. Fortitude Family Office LLC lifted its stake in AT&T by 1.5% in the first quarter. Fortitude Family Office LLC now owns 41,595 shares of the technology company's stock valued at $732,000 after acquiring an additional 614 shares during the last quarter. Finally, Connecticut Wealth Management LLC lifted its stake in AT&T by 3.0% in the fourth quarter. Connecticut Wealth Management LLC now owns 21,601 shares of the technology company's stock valued at $362,000 after acquiring an additional 620 shares during 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.