AT&T (NYSE:T) Trading Down 1.3% – Here’s Why

AT&T Inc. (NYSE:T) traded down 1.3% on Monday . The company traded as low as $25.43 and last traded at $25.60. 65,890,102 shares were traded during mid-day trading, an increase of 64% from the average session volume of 40,158,133 shares. The stock had previously closed at $25.93.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Barclays decreased their price target on shares of AT&T from $30.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 23rd. The Goldman Sachs Group started coverage on AT&T in a report on Tuesday, September 2nd. They set a “buy” rating and a $32.00 price objective on the stock. Wall Street Zen lowered AT&T from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Citigroup reissued a “buy” rating on shares of AT&T in a research note on Tuesday, August 26th. Finally, UBS Group restated a “buy” rating on shares of AT&T in a research report on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.64.

AT&T Stock Performance

The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 1.01. The company has a market cap of $181.49 billion, a price-to-earnings ratio of 8.31, a P/E/G ratio of 2.16 and a beta of 0.40. The stock has a 50 day moving average price of $26.29 and a two-hundred day moving average price of $27.46.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, October 22nd. The technology company reported $0.54 EPS for the quarter, hitting analysts’ consensus estimates of $0.54. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The business had revenue of $30.71 billion during the quarter, compared to analysts’ expectations of $30.85 billion. During the same period in the previous year, the firm earned $0.60 earnings per share. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. Analysts predict that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Friday, October 10th were paid a $0.2775 dividend. The ex-dividend date of this dividend was Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.3%. AT&T’s dividend payout ratio is 36.04%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of T. Kingstone Capital Partners Texas LLC acquired a new position in shares of AT&T in the 2nd quarter valued at $5,266,758,000. Norges Bank bought a new position in AT&T during the second quarter worth about $2,228,655,000. Nuveen LLC acquired a new position in AT&T in the first quarter valued at about $1,072,128,000. GQG Partners LLC increased its holdings in shares of AT&T by 17.7% in the first quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock worth $3,222,711,000 after acquiring an additional 17,177,874 shares in the last quarter. Finally, Amundi increased its holdings in shares of AT&T by 67.5% in the third quarter. Amundi now owns 42,295,492 shares of the technology company’s stock worth $1,094,184,000 after acquiring an additional 17,040,328 shares in the last quarter. 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.