AT&T (NYSE:T) Upgraded to Strong Sell by Redburn Atlantic

Redburn Atlantic upgraded shares of AT&T (NYSE:T) to a strong sell rating in a report released on Monday morning, Zacks.com reports.

Other research analysts also recently issued research reports about the company. Citigroup upped their price objective on AT&T from $21.00 to $24.00 and gave the company a buy rating in a research note on Wednesday, September 11th. Barclays raised their price objective on shares of AT&T from $20.00 to $22.00 and gave the stock an overweight rating in a report on Thursday, July 25th. BNP Paribas raised shares of AT&T from an underperform rating to a neutral rating in a research report on Tuesday, June 11th. UBS Group reissued a buy rating and set a $24.00 target price on shares of AT&T in a research report on Tuesday, June 18th. Finally, The Goldman Sachs Group began coverage on shares of AT&T in a report on Monday, July 1st. They issued a buy rating and a $22.00 price target on the stock. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, AT&T presently has an average rating of Hold and a consensus target price of $22.31.

AT&T Trading Down 2.2 %

NYSE T opened at $21.78 on Monday. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. The business has a fifty day simple moving average of $19.72 and a 200 day simple moving average of $18.26. AT&T has a 12 month low of $14.12 and a 12 month high of $22.34. The firm has a market capitalization of $156.17 billion, a P/E ratio of 11.71, a PEG ratio of 3.68 and a beta of 0.59.

AT&T (NYSE:T) last announced its earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, meeting the consensus estimate of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The company had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. During the same quarter in the prior year, the company posted $0.63 earnings per share. The firm’s revenue for the quarter was down .3% on a year-over-year basis. On average, analysts predict that AT&T will post 2.2 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were issued a dividend of $0.2775 per share. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.10%. AT&T’s dividend payout ratio (DPR) is 59.68%.

Hedge Funds Weigh In On AT&T

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. grew its position in AT&T by 0.4% during the first quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock worth $10,999,912,000 after buying an additional 2,588,539 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of AT&T by 7.4% during the second quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock worth $1,549,375,000 after purchasing an additional 5,592,123 shares in the last quarter. Legal & General Group Plc increased its position in shares of AT&T by 2.7% in the second quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock worth $1,148,689,000 after purchasing an additional 1,569,374 shares during the last quarter. Ameriprise Financial Inc. raised its stake in AT&T by 2.0% in the second quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock valued at $985,307,000 after purchasing an additional 1,007,228 shares in the last quarter. Finally, LSV Asset Management lifted its position in AT&T by 1.1% during the second quarter. LSV Asset Management now owns 30,092,610 shares of the technology company’s stock valued at $575,070,000 after purchasing an additional 315,580 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Company Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.