AT&T Inc. (T) Stock Rating Lowered by Vetr Inc.
AT&T Inc. (NYSE:T) was downgraded by Vetr from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday. They presently have a $40.78 price target on the stock. Vetr‘s price objective would suggest a potential upside of 3.69% from the company’s previous close.
Several other equities research analysts have also issued reports on T. Zacks Investment Research raised shares of AT&T from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research note on Tuesday, July 5th. Jefferies Group reaffirmed a “buy” rating on shares of AT&T in a research note on Wednesday, August 3rd. Robert W. Baird reaffirmed a “neutral” rating and issued a $41.00 price objective on shares of AT&T in a research note on Monday, July 25th. S&P Equity Research set a $46.00 price objective on shares of AT&T and gave the company a “buy” rating in a research note on Sunday, July 24th. Finally, Citigroup Inc. lowered shares of AT&T from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $42.00 to $46.00 in a research note on Thursday, July 7th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have issued a buy rating to the company. AT&T currently has an average rating of “Hold” and a consensus target price of $41.86.
Shares of AT&T (NYSE:T) traded up 0.59% during trading on Wednesday, reaching $39.33. 17,179,912 shares of the company’s stock were exchanged. The company has a market capitalization of $241.96 billion, a PE ratio of 16.96 and a beta of 0.30. The company has a 50 day moving average price of $40.43 and a 200-day moving average price of $40.52. AT&T has a 52-week low of $32.22 and a 52-week high of $43.89.
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AT&T (NYSE:T) last issued its earnings results on Thursday, July 21st. The company reported $0.72 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.72. The company earned $40.50 billion during the quarter, compared to analyst estimates of $40.75 billion. AT&T had a net margin of 8.76% and a return on equity of 13.93%. On average, equities analysts forecast that AT&T will post $2.86 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Monday, October 10th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $1.92 annualized dividend and a yield of 4.88%. AT&T’s dividend payout ratio is currently 83.12%.
In related news, CEO John T. Stankey sold 2,131 shares of the stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $43.38, for a total value of $92,442.78. Following the transaction, the chief executive officer now directly owns 13,583 shares in the company, valued at $589,230.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.07% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Proficio Capital Partners LLC increased its stake in shares of AT&T by 170.8% in the second quarter. Proficio Capital Partners LLC now owns 2,361 shares of the company’s stock valued at $101,000 after buying an additional 1,489 shares during the last quarter. Taylor Wealth Management Partners increased its stake in shares of AT&T by 38.1% in the second quarter. Taylor Wealth Management Partners now owns 2,539 shares of the company’s stock valued at $110,000 after buying an additional 700 shares during the last quarter. WealthTrust Arizona LLC increased its stake in shares of AT&T by 13.0% in the second quarter. WealthTrust Arizona LLC now owns 2,612 shares of the company’s stock valued at $113,000 after buying an additional 300 shares during the last quarter. Wealthcare Capital Management LLC purchased a new stake in shares of AT&T during the second quarter valued at approximately $117,000. Finally, Invictus RG increased its stake in shares of AT&T by 266.4% in the first quarter. Invictus RG now owns 3,521 shares of the company’s stock valued at $138,000 after buying an additional 2,560 shares during the last quarter. Institutional investors and hedge funds own 53.64% of the company’s stock.
AT&T Company Profile
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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