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

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

Other equities analysts have also recently issued research reports about the stock. Barclays lifted their target price on shares of AT&T from $20.00 to $22.00 and gave the stock an overweight rating in a research report on Thursday, July 25th. Royal Bank of Canada boosted their target price on AT&T from $18.00 to $19.00 and gave the company a sector perform rating in a research note on Thursday, July 25th. TD Cowen raised their price target on AT&T from $21.00 to $23.00 and gave the stock a hold rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. lifted their price target on AT&T from $21.00 to $24.00 and gave the stock an overweight rating in a research note on Thursday, July 25th. Finally, BNP Paribas raised AT&T from an underperform rating to a neutral rating in a research note on Tuesday, June 11th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, AT&T currently has a consensus rating of Hold and a consensus target price of $22.31.

AT&T Price Performance

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 stock 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. The stock has a 50-day moving average price of $19.72 and a 200-day moving average price of $18.26. AT&T has a 12-month low of $14.12 and a 12-month high of $22.34.

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

AT&T Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in T. Mercer Global Advisors Inc. ADV boosted its stake in AT&T by 1,379.0% during the second quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock worth $270,581,000 after acquiring an additional 13,201,774 shares in the last quarter. Kodai Capital Management LP bought a new stake in shares of AT&T in the 4th quarter worth approximately $152,109,000. AQR Capital Management LLC boosted its position in shares of AT&T by 43.3% in the 2nd quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock worth $414,563,000 after purchasing an additional 6,602,586 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of AT&T by 7.4% in the 2nd 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 buying an additional 5,592,123 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its position in AT&T by 120.8% during the 4th quarter. Point72 Asset Management L.P. now owns 9,086,854 shares of the technology company’s stock valued at $152,477,000 after buying an additional 4,970,954 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

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.