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

AT&T Inc. (NYSE:T)’s stock price fell 0.3% on Thursday . The stock traded as low as $26.68 and last traded at $26.76. 3,753,351 shares were traded 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 Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Royal Bank of Canada raised their price objective on shares of AT&T from $27.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday. JPMorgan Chase & Co. raised their price target on shares of AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Argus raised 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 Thursday, January 16th. Morgan Stanley raised AT&T from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $19.00 to $28.00 in a research report on Monday, December 16th. Finally, Barclays upped their price target on AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. One 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $26.79.

AT&T Stock Up 0.9 %

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

AT&T (NYSE:T) last announced its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. Analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

Institutional Investors Weigh In On AT&T

Hedge funds and other institutional investors have recently bought and sold shares of the business. Carolinas Wealth Consulting LLC increased its holdings in shares of AT&T by 1.6% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company’s stock worth $550,000 after purchasing an additional 384 shares during the period. Buska Wealth Management LLC increased its stake in AT&T by 3.2% in the 4th quarter. Buska Wealth Management LLC now owns 13,391 shares of the technology company’s stock worth $305,000 after acquiring an additional 412 shares during the last quarter. 1620 Investment Advisors Inc. raised its holdings in shares of AT&T by 1.6% in the 4th quarter. 1620 Investment Advisors Inc. now owns 26,161 shares of the technology company’s stock valued at $596,000 after acquiring an additional 421 shares in the last quarter. Tradewinds Capital Management LLC raised its holdings in shares of AT&T by 48.6% in the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock valued at $30,000 after acquiring an additional 430 shares in the last quarter. Finally, BNP Paribas grew its holdings in shares of AT&T by 1.0% during the fourth quarter. BNP Paribas now owns 41,716 shares of the technology company’s stock worth $942,000 after purchasing an additional 430 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

About AT&T

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.