AT&T (NYSE:T) Trading Down 0.1% – Here’s What Happened

Shares of AT&T Inc. (NYSE:T) traded down 0.1% on Wednesday . The stock traded as low as $26.45 and last traded at $26.59. 3,847,129 shares traded hands during trading, a decline of 89% from the average session volume of 33,955,758 shares. The stock had previously closed at $26.61.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Scotiabank boosted their price target on shares of AT&T from $26.00 to $28.50 and gave the company a “sector outperform” rating in a research report on Monday, March 3rd. Oppenheimer assumed coverage on shares of AT&T in a research report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price target on the stock. BNP Paribas raised shares of AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price target on the stock in a research report on Thursday, February 13th. Citigroup upped their target price on shares of AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, UBS Group upped their target price on shares of AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $26.79.

AT&T Price Performance

The stock’s 50 day moving average is $24.84 and its two-hundred day moving average is $23.18. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The stock has a market capitalization of $191.55 billion, a PE ratio of 17.90, a price-to-earnings-growth ratio of 3.00 and a beta of 0.56.

AT&T (NYSE:T) last released its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. As a group, sell-side analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

Institutional Trading of AT&T

A number of large investors have recently made changes to their positions in T. Legacy Investment Solutions LLC purchased a new position in AT&T in the third quarter valued at approximately $25,000. Minot DeBlois Advisors LLC purchased a new position in AT&T in the fourth quarter valued at approximately $25,000. Capital A Wealth Management LLC purchased a new position in AT&T in the fourth quarter valued at approximately $25,000. Putney Financial Group LLC purchased a new position in AT&T in the fourth quarter valued at approximately $27,000. Finally, Marshall Investment Management LLC purchased a new position in AT&T in the fourth quarter valued at approximately $28,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

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.