A number of other analysts have also issued reports on the stock. Robert W. Baird reissued a neutral rating and set a $41.00 target price on shares of AT&T in a research note on Tuesday, June 28th. Citigroup Inc. lowered shares of AT&T from a buy rating to a neutral rating and boosted their target price for the company from $42.00 to $46.00 in a research note on Thursday, July 7th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of AT&T from a buy rating to a hold rating in a research note on Monday, July 25th. FBR & Co boosted their target price on shares of AT&T from $38.00 to $42.00 and gave the company a market perform rating in a research note on Friday, July 22nd. Finally, Buckingham Research lowered shares of AT&T from a buy rating to a neutral rating and upped their price objective for the stock from $30.97 to $39.56 in a research note on Friday, June 24th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the company’s stock. AT&T currently has a consensus rating of Hold and an average price target of $41.57.
AT&T (NYSE:T) traded down 0.61% during mid-day trading on Thursday, reaching $38.87. 8,003,355 shares of the company’s stock were exchanged. The company’s 50-day moving average is $40.65 and its 200 day moving average is $40.51. AT&T has a one year low of $32.22 and a one year high of $43.89. The firm has a market capitalization of $239.13 billion, a P/E ratio of 16.76 and a beta of 0.30.
AT&T (NYSE:T) last posted its quarterly earnings data on Thursday, July 21st. The company reported $0.72 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.72. AT&T had a net margin of 8.76% and a return on equity of 13.93%. The business had revenue of $40.50 billion for the quarter, compared to analysts’ expectations of $40.75 billion. Equities analysts predict that AT&T will post $2.86 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Monday, October 10th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.91%. AT&T’s dividend payout ratio (DPR) is 83.12%.
In other news, CEO John T. Stankey sold 2,131 shares of the stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $43.38, for a total transaction of $92,442.78. Following the transaction, the chief executive officer now owns 13,583 shares in the company, valued at approximately $589,230.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.07% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Proficio Capital Partners LLC raised its position in shares of AT&T by 170.8% in the second quarter. Proficio Capital Partners LLC now owns 2,361 shares of the company’s stock worth $101,000 after buying an additional 1,489 shares during the period. Taylor Wealth Management Partners raised its position in shares of AT&T by 38.1% in the second quarter. Taylor Wealth Management Partners now owns 2,539 shares of the company’s stock worth $110,000 after buying an additional 700 shares during the last quarter. WealthTrust Arizona LLC raised its position in shares of AT&T by 13.0% in the second quarter. WealthTrust Arizona LLC now owns 2,612 shares of the company’s stock worth $113,000 after buying an additional 300 shares during the last quarter. Wealthcare Capital Management LLC purchased a new position in shares of AT&T during the second quarter worth $117,000. Finally, Invictus RG raised its position in shares of AT&T by 266.4% in the first quarter. Invictus RG now owns 3,521 shares of the company’s stock worth $138,000 after buying an additional 2,560 shares during the last quarter. Hedge funds and other institutional investors own 53.64% of the company’s stock.
AT&T Inc is a holding company. The Company offers communications and digital entertainment services in the United States and the world. It operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Business Solutions segment includes various categories, including wireless service, fixed strategic services, legacy voice and data services, other services and wireless equipment.
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