AT&T (NYSE:T) Shares Down 1.3% – Should You Sell?

AT&T Inc. (NYSE:T)’s stock price was down 1.3% during mid-day trading on Wednesday . The stock traded as low as $25.09 and last traded at $25.2650. Approximately 33,405,761 shares changed hands during trading, a decline of 16% from the average daily volume of 39,951,652 shares. The stock had previously closed at $25.60.

Wall Street Analyst Weigh In

Several brokerages have recently commented on T. HSBC cut AT&T from a “buy” rating to a “hold” rating and set a $30.00 target price for the company. in a research report on Thursday, July 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of AT&T in a research note on Wednesday, October 8th. JPMorgan Chase & Co. upped their target price on AT&T from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Wall Street Zen cut shares of AT&T from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Sanford C. Bernstein boosted their price objective on shares of AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, September 4th. One equities 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 stock. According to data from MarketBeat, AT&T presently has an average rating of “Moderate Buy” and an average price target of $30.64.

AT&T Trading Down 1.3%

The company has a 50 day moving average of $26.60 and a 200 day moving average of $27.53. The firm has a market cap of $179.11 billion, a P/E ratio of 8.20, a PEG ratio of 2.16 and a beta of 0.40. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.96 and a current ratio of 1.01.

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

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 10th were paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend was Friday, October 10th. AT&T’s payout ratio is presently 36.04%.

Hedge Funds Weigh In On AT&T

Hedge funds have recently bought and sold shares of the business. Kingstone Capital Partners Texas LLC bought a new stake in shares of AT&T during the 2nd quarter worth about $5,266,758,000. Norges Bank bought a new position in shares of AT&T in the 2nd quarter valued at approximately $2,228,655,000. Nuveen LLC acquired a new stake in AT&T in the 1st quarter worth approximately $1,072,128,000. GQG Partners LLC boosted its position in AT&T by 17.7% during the first quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock worth $3,222,711,000 after purchasing an additional 17,177,874 shares during the period. Finally, Amundi boosted its position in AT&T by 67.5% during the third quarter. Amundi now owns 42,295,492 shares of the technology company’s stock worth $1,094,184,000 after purchasing an additional 17,040,328 shares during the period. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Company Profile

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.