AT&T (NYSE:T) Lowered to “Sell” at ValuEngine

ValuEngine downgraded shares of AT&T (NYSE:T) from a hold rating to a sell rating in a research report released on Thursday morning, ValuEngine reports.

T has been the subject of several other reports. Credit Suisse Group upgraded shares of AT&T from an underperform rating to a neutral rating and set a $29.00 price target for the company in a report on Thursday, July 25th. Desjardins reiterated an average rating and set a $56.50 price target on shares of AT&T in a report on Friday, April 5th. Raymond James upped their price target on shares of AT&T from $34.00 to $35.00 and gave the stock an outperform rating in a report on Thursday, July 25th. Morgan Stanley reiterated a buy rating and set a $37.00 price target on shares of AT&T in a report on Thursday. Finally, Cowen upped their price target on shares of AT&T from $34.00 to $40.00 and gave the stock an outperform rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $36.78.

T traded down $0.61 during trading on Thursday, hitting $33.56. 567,642 shares of the stock traded hands, compared to its average volume of 31,755,744. AT&T has a twelve month low of $26.80 and a twelve month high of $34.64. The firm has a market cap of $249.38 billion, a P/E ratio of 9.54, a price-to-earnings-growth ratio of 2.14 and a beta of 0.62. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.72 and a current ratio of 0.71. The business’s 50 day moving average is $33.30.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.89 EPS for the quarter, meeting the consensus estimate of $0.89. AT&T had a net margin of 9.47% and a return on equity of 13.38%. The business had revenue of $44.96 billion during the quarter, compared to the consensus estimate of $44.97 billion. During the same period in the previous year, the business earned $0.91 earnings per share. The company’s revenue was up 15.3% on a year-over-year basis. On average, analysts forecast that AT&T will post 3.57 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were issued a dividend of $0.51 per share. The ex-dividend date was Tuesday, July 9th. This represents a $2.04 annualized dividend and a dividend yield of 6.08%. AT&T’s dividend payout ratio (DPR) is presently 57.95%.

In related news, CEO John T. Stankey sold 4,024 shares of the stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $34.15, for a total value of $137,419.60. Following the completion of the sale, the chief executive officer now directly owns 2,366 shares in the company, valued at $80,798.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.07% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Nordea Investment Management AB boosted its position in AT&T by 16.9% during the fourth quarter. Nordea Investment Management AB now owns 21,383,855 shares of the technology company’s stock valued at $610,299,000 after acquiring an additional 3,097,958 shares during the last quarter. Covenant Multifamily Offices LLC bought a new stake in AT&T during the second quarter valued at $81,364,000. Oregon Public Employees Retirement Fund boosted its position in AT&T by 140.3% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,387,550 shares of the technology company’s stock valued at $96,681,000 after acquiring an additional 1,978,124 shares during the last quarter. First Trust Advisors LP boosted its position in AT&T by 24.0% during the second quarter. First Trust Advisors LP now owns 10,154,439 shares of the technology company’s stock valued at $340,275,000 after acquiring an additional 1,964,977 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its position in AT&T by 34.1% during the second quarter. DekaBank Deutsche Girozentrale now owns 6,924,472 shares of the technology company’s stock valued at $229,188,000 after acquiring an additional 1,762,632 shares during the last quarter. Institutional investors and hedge funds own 52.93% of the company’s stock.

AT&T Company Profile

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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Analyst Recommendations for AT&T (NYSE:T)

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