AT&T (NYSE:T) Cut to Strong Sell at Arete Research

Arete Research cut shares of AT&T (NYSE:T) from a hold rating to a strong sell rating in a research note published on Tuesday morning,Zacks.com reports.

Other equities analysts also recently issued research reports about the stock. Loop Capital set a $29.00 price target on shares of AT&T in a report on Friday, December 19th. Wells Fargo & Company decreased their price objective on shares of AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a research report on Thursday, October 16th. Royal Bank Of Canada lowered their target price on shares of AT&T from $31.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, October 23rd. Citigroup cut their price target on AT&T from $32.00 to $29.00 and set a “buy” rating for the company in a research note on Monday, December 22nd. Finally, Scotiabank set a $30.25 price target on AT&T and gave the company a “sector perform” rating in a report on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.42.

AT&T Stock Up 0.9%

Shares of T stock opened at $24.19 on Tuesday. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 1.01. AT&T has a 12 month low of $21.38 and a 12 month high of $29.79. The stock has a market cap of $171.49 billion, a P/E ratio of 7.85, a P/E/G ratio of 1.28 and a beta of 0.39. The company has a 50 day simple moving average of $24.92 and a two-hundred day simple moving average of $26.81.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.54. The firm had revenue of $30.71 billion for the quarter, compared to analysts’ expectations of $30.85 billion. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The business’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.60 EPS. On average, research analysts expect that AT&T will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 12th will be paid a $0.2775 dividend. The ex-dividend date is Monday, January 12th. This represents a $1.11 annualized dividend and a yield of 4.6%. AT&T’s payout ratio is presently 36.04%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. J. L. Bainbridge & Co. Inc. increased its stake in AT&T by 1.7% in the 2nd quarter. J. L. Bainbridge & Co. Inc. now owns 21,253 shares of the technology company’s stock worth $615,000 after acquiring an additional 355 shares during the last quarter. Financial & Tax Architects LLC boosted its position in shares of AT&T by 4.9% during the 2nd quarter. Financial & Tax Architects LLC now owns 7,588 shares of the technology company’s stock valued at $220,000 after acquiring an additional 356 shares during the last quarter. Roberts Glore & Co. Inc. IL grew its holdings in shares of AT&T by 2.0% in the second quarter. Roberts Glore & Co. Inc. IL now owns 18,386 shares of the technology company’s stock valued at $532,000 after purchasing an additional 357 shares in the last quarter. Investment Partners LTD. grew its holdings in shares of AT&T by 3.5% in the second quarter. Investment Partners LTD. now owns 10,464 shares of the technology company’s stock valued at $303,000 after purchasing an additional 357 shares in the last quarter. Finally, Parcion Private Wealth LLC increased its position in AT&T by 2.5% in the second quarter. Parcion Private Wealth LLC now owns 14,910 shares of the technology company’s stock worth $431,000 after purchasing an additional 364 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Company Profile

AT&T Inc is a global telecommunications company that provides a broad range of communications and digital entertainment services. Its core activities include consumer and business wireless services, broadband and fiber internet, and network infrastructure. The company operates branded wireless services through AT&T Mobility and deploys fixed-line and fiber networks to deliver high-speed internet and related home services.

AT&T’s product and service portfolio spans mobile voice and data plans, smartphones and device sales, home internet (including fiber-to-the-home where available), and managed connectivity solutions for enterprise customers.