AT&T (NYSE:T) Downgraded by Wolfe Research to “Peer Perform”

Wolfe Research lowered shares of AT&T (NYSE:T) from an outperform rating to a peer perform rating in a research report report published on Monday morning, Marketbeat Ratings reports.

A number of other equities research analysts also recently commented on the stock. Scotiabank set a $30.25 price objective on shares of AT&T and gave the company a “sector perform” rating in a research report on Monday, October 6th. Raymond James Financial reissued a “strong-buy” rating and set a $33.00 target price (up from $31.00) on shares of AT&T in a research note on Thursday, September 18th. TD Cowen lifted their price target on AT&T from $32.00 to $33.00 and gave the company a “hold” rating in a research note on Thursday, October 23rd. Morgan Stanley dropped their price objective on AT&T from $32.00 to $30.00 and set an “overweight” rating on the stock in a report on Wednesday, December 10th. Finally, KeyCorp raised AT&T from a “sector weight” rating to an “overweight” rating and set a $30.00 target price for the company in a report on Tuesday, November 11th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, AT&T currently has an average rating of “Moderate Buy” and a consensus price target of $30.55.

AT&T Price Performance

Shares of NYSE T opened at $24.33 on Monday. The stock has a fifty day moving average price of $25.37 and a 200 day moving average price of $27.23. AT&T has a 1-year low of $21.38 and a 1-year high of $29.79. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.01 and a quick ratio of 0.96. The company has a market cap of $172.46 billion, a PE ratio of 7.90, a P/E/G ratio of 1.44 and a beta of 0.38.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, October 22nd. The technology company reported $0.54 EPS for the quarter, hitting analysts’ consensus estimates of $0.54. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The company had revenue of $30.71 billion during the quarter, compared to the consensus estimate of $30.85 billion. During the same quarter in the prior year, the firm earned $0.60 EPS. AT&T’s quarterly revenue was up 1.7% on a year-over-year basis. Sell-side analysts forecast that AT&T will post 2.14 EPS for the current year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 12th will be issued a dividend of $0.2775 per share. The ex-dividend date of this dividend is Monday, January 12th. This represents a $1.11 annualized dividend and a yield of 4.6%. AT&T’s payout ratio is currently 36.04%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Mirabella Financial Services LLP purchased a new position in AT&T during the 3rd quarter valued at about $4,591,000. Farmers National Bank raised its position in shares of AT&T by 1.9% during the 3rd quarter. Farmers National Bank now owns 137,900 shares of the technology company’s stock worth $3,894,000 after purchasing an additional 2,594 shares during the last quarter. Hudson Bay Capital Management LP raised its position in shares of AT&T by 1,369.5% during the 3rd quarter. Hudson Bay Capital Management LP now owns 804,960 shares of the technology company’s stock worth $22,732,000 after purchasing an additional 750,182 shares during the last quarter. IFP Advisors Inc lifted its stake in AT&T by 0.7% in the 3rd quarter. IFP Advisors Inc now owns 294,469 shares of the technology company’s stock valued at $8,414,000 after buying an additional 2,004 shares in the last quarter. Finally, Groupama Asset Managment grew its holdings in AT&T by 35.1% during the 3rd quarter. Groupama Asset Managment now owns 375,548 shares of the technology company’s stock valued at $10,605,000 after buying an additional 97,481 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 holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.