AT&T Inc. (NYSE:T) declared a quarterly dividend on Friday, March 29th, RTT News reports. Stockholders of record on Wednesday, April 10th will be paid a dividend of 0.51 per share by the technology company on Wednesday, May 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 6.65%. The ex-dividend date of this dividend is Tuesday, April 9th.
AT&T has raised its dividend payment by an average of 2.1% per year over the last three years and has raised its dividend every year for the last 34 years. AT&T has a dividend payout ratio of 58.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect AT&T to earn $3.67 per share next year, which means the company should continue to be able to cover its $2.04 annual dividend with an expected future payout ratio of 55.6%.
Shares of T stock traded up $0.34 during trading hours on Friday, reaching $30.68. 33,721,757 shares of the company were exchanged, compared to its average volume of 31,765,682. AT&T has a fifty-two week low of $26.80 and a fifty-two week high of $34.53. The firm has a market capitalization of $197.06 billion, a price-to-earnings ratio of 8.72, a PEG ratio of 1.35 and a beta of 0.59. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.86.
In other AT&T news, CEO John T. Stankey sold 3,748 shares of the firm’s stock in a transaction dated Thursday, January 31st. The shares were sold at an average price of $29.84, for a total value of $111,840.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.07% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in the stock. WealthTrust Arizona LLC lifted its position in shares of AT&T by 76.2% in the 4th quarter. WealthTrust Arizona LLC now owns 1,427 shares of the technology company’s stock worth $41,000 after purchasing an additional 617 shares during the period. Cranbrook Wealth Management LLC lifted its position in shares of AT&T by 76.4% during the 4th quarter. Cranbrook Wealth Management LLC now owns 1,596 shares of the technology company’s stock valued at $46,000 after acquiring an additional 691 shares during the period. PRW Wealth Management LLC acquired a new position in shares of AT&T during the 4th quarter valued at $53,000. Clarfeld Financial Advisors LLC acquired a new position in shares of AT&T during the 4th quarter valued at $59,000. Finally, Wakefield Asset Management LLLP acquired a new position in shares of AT&T during the 4th quarter valued at $86,000. 64.51% of the stock is currently owned by institutional investors.
Several equities research analysts have recently issued reports on T shares. Raymond James raised shares of AT&T from a “market perform” rating to an “outperform” rating and set a $34.00 price objective for the company in a research report on Friday, March 15th. They noted that the move was a valuation call. Cowen reissued a “buy” rating and set a $35.00 price objective on shares of AT&T in a research report on Thursday, January 31st. ValuEngine downgraded shares of AT&T from a “sell” rating to a “strong sell” rating in a research report on Tuesday, March 5th. Desjardins reaffirmed an “average” rating and issued a $56.50 target price on shares of AT&T in a research report on Friday, April 5th. Finally, Barclays set a $32.00 target price on shares of AT&T and gave the company a “hold” rating in a research report on Friday, January 18th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $36.26.
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.
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