AT&T Inc. (NYSE:T) was downgraded by equities research analysts at Vetr from a “buy” rating to a “hold” rating in a research note issued on Wednesday. They currently have a $40.78 price objective on the stock. Vetr‘s target price suggests a potential upside of 3.69% from the company’s previous close.
A number of other research firms also recently issued reports on T. Zacks Investment Research raised AT&T from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research report on Tuesday, July 5th. Jefferies Group reaffirmed a “buy” rating on shares of AT&T in a research report on Wednesday, August 3rd. Robert W. Baird reaffirmed a “neutral” rating and issued a $41.00 target price on shares of AT&T in a research report on Monday, July 25th. S&P Equity Research set a $46.00 target price on AT&T and gave the stock a “buy” rating in a research report on Sunday, July 24th. Finally, Citigroup Inc. downgraded AT&T from a “buy” rating to a “neutral” rating and upped their target price for the stock from $42.00 to $46.00 in a research report on Thursday, July 7th. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $41.86.
Shares of AT&T (NYSE:T) traded up 0.59% during midday trading on Wednesday, hitting $39.33. The stock had a trading volume of 17,179,912 shares. AT&T has a one year low of $32.22 and a one year high of $43.89. The company has a market cap of $241.96 billion, a P/E ratio of 16.96 and a beta of 0.30. The stock has a 50 day moving average of $40.43 and a 200-day moving average of $40.52.
AT&T (NYSE:T) last posted its quarterly earnings results on Thursday, July 21st. The company reported $0.72 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.72. AT&T had a return on equity of 13.93% and a net margin of 8.76%. The firm earned $40.50 billion during the quarter, compared to the consensus estimate of $40.75 billion. Analysts forecast that AT&T will post $2.86 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Monday, October 10th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 4.88%. The ex-dividend date is Wednesday, October 5th. AT&T’s payout ratio is currently 83.12%.
In other AT&T news, CEO John T. Stankey sold 2,131 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 13,583 shares of the company’s stock, valued at approximately $589,230.54. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.07% of the company’s stock.
Several large investors have recently added to or reduced their stakes in T. Bollard Group LLC raised its stake in AT&T by 1.1% in the second quarter. Bollard Group LLC now owns 451,190 shares of the company’s stock valued at $19,496,000 after buying an additional 4,776 shares in the last quarter. Aviva PLC raised its stake in AT&T by 5.5% in the first quarter. Aviva PLC now owns 4,540,243 shares of the company’s stock valued at $177,841,000 after buying an additional 237,012 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its stake in AT&T by 6.2% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 811,263 shares of the company’s stock valued at $35,055,000 after buying an additional 47,100 shares in the last quarter. Community Trust & Investment Co. raised its stake in AT&T by 1.8% in the second quarter. Community Trust & Investment Co. now owns 516,263 shares of the company’s stock valued at $22,307,000 after buying an additional 9,126 shares in the last quarter. Finally, Logan Capital Management Inc. raised its stake in AT&T by 0.3% in the first quarter. Logan Capital Management Inc. now owns 736,564 shares of the company’s stock valued at $28,851,000 after buying an additional 2,079 shares in the last quarter. 53.64% of the stock is owned by institutional investors and hedge funds.
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.
To view Vetr’s full report, visit Vetr’s official website.
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