AT&T (NYSE:T) Shares Down 0.3% – Here’s Why

AT&T Inc. (NYSE:T) shares traded down 0.3% during mid-day trading on Thursday . The stock traded as low as $26.68 and last traded at $26.76. 3,753,351 shares changed hands during trading, a decline of 89% from the average session volume of 33,963,195 shares. The stock had previously closed at $26.84.

Analyst Ratings Changes

A number of brokerages recently weighed in on T. UBS Group boosted their target price on shares of AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. DZ Bank upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Wednesday, January 29th. The Goldman Sachs Group upped their target price on shares of AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, December 5th. New Street Research upgraded AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. Finally, Argus upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $26.79.

AT&T Trading Up 0.9 %

The firm has a market capitalization of $194.06 billion, a P/E ratio of 18.14, a PEG ratio of 3.00 and a beta of 0.56. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The firm has a 50 day moving average of $25.13 and a 200-day moving average of $23.28.

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, beating analysts’ consensus estimates of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. On average, equities research analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new position in AT&T during the fourth quarter worth about $14,700,000. Franklin Resources Inc. increased its position in AT&T by 41.4% during the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock worth $168,969,000 after purchasing an additional 2,326,904 shares in the last quarter. Consolidated Planning Corp lifted its stake in AT&T by 7.4% in the 4th quarter. Consolidated Planning Corp now owns 320,089 shares of the technology company’s stock valued at $7,288,000 after purchasing an additional 21,927 shares during the last quarter. Fortress Financial Solutions LLC acquired a new stake in AT&T in the fourth quarter valued at approximately $691,000. Finally, West Family Investments Inc. grew its stake in shares of AT&T by 70.4% during the fourth quarter. West Family Investments Inc. now owns 37,961 shares of the technology company’s stock worth $864,000 after buying an additional 15,680 shares during the last quarter. 57.10% of the stock is owned by 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.