AT&T (NYSE:T) Trading Down 0.4%

AT&T Inc. (NYSE:T - Get Free Report) dropped 0.4% on Tuesday . The company traded as low as $16.80 and last traded at $16.96. Approximately 6,521,990 shares traded hands during trading, a decline of 83% from the average daily volume of 39,054,457 shares. The stock had previously closed at $17.02.

Analysts Set New Price Targets

Several research firms have issued reports on T. Oppenheimer upgraded AT&T from a "market perform" rating to an "outperform" rating and set a $21.00 target price on the stock in a research note on Friday, January 19th. TheStreet upgraded shares of AT&T from a "c" rating to a "b-" rating in a research note on Wednesday, January 24th. Wolfe Research upgraded shares of AT&T from a "peer perform" rating to an "outperform" rating and set a $21.00 target price for the company in a research note on Tuesday, March 5th. Citigroup upped their price target on AT&T from $19.00 to $20.00 and gave the stock a "buy" rating in a research report on Thursday, February 1st. Finally, StockNews.com raised AT&T from a "hold" rating to a "buy" rating in a research report on Thursday, April 25th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $20.81.

AT&T Stock Performance

The firm has a market capitalization of $120.85 billion, a price-to-earnings ratio of 9.08, a PEG ratio of 3.32 and a beta of 0.57. The firm's 50 day simple moving average is $16.97 and its 200 day simple moving average is $16.62. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.63 and a current ratio of 0.68.

AT&T (NYSE:T - Get Free Report) last posted its 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 firm's quarterly revenue was down .4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.60 earnings per share. Sell-side analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 6.57%. The ex-dividend date is Tuesday, April 9th. AT&T's dividend payout ratio is currently 59.68%.

Hedge Funds Weigh In On AT&T

Institutional investors have recently made changes to their positions in the company. Carmel Capital Partners LLC raised its holdings in AT&T by 16,250.0% in the 3rd quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company's stock worth $25,000 after purchasing an additional 1,625 shares during the period. Frank Rimerman Advisors LLC purchased a new stake in shares of AT&T in the fourth quarter valued at approximately $25,000. Pineridge Advisors LLC acquired a new position in shares of AT&T during the 4th quarter worth approximately $25,000. First Pacific Financial lifted its position in shares of AT&T by 166.7% during the 1st quarter. First Pacific Financial now owns 1,600 shares of the technology company's stock valued at $28,000 after buying an additional 1,000 shares in the last quarter. Finally, Lipe & Dalton acquired a new stake in AT&T in the 3rd quarter valued at $30,000. 57.10% of the stock is owned by hedge funds and other 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.