Vetr downgraded shares of AT&T Inc. (NYSE:T) from a buy rating to a hold rating in a research report sent to investors on Tuesday. Vetr currently has $39.81 price target on the stock.
A number of other analysts have also recently issued reports on T. Zacks Investment Research cut shares of AT&T from a buy rating to a hold rating in a research note on Monday, July 25th. Robert W. Baird reissued a neutral rating and issued a $41.00 price objective on shares of AT&T in a research note on Monday, July 25th. Argus reissued a buy rating and issued a $51.00 price objective (up from $45.00) on shares of AT&T in a research note on Tuesday, July 26th. Jefferies Group reissued a buy rating on shares of AT&T in a research note on Wednesday, August 3rd. Finally, Pacific Crest reissued a hold rating on shares of AT&T in a research note on Wednesday, September 7th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twelve have given a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $41.24.
AT&T (NYSE:T) opened at 38.73 on Tuesday. AT&T has a 12 month low of $33.01 and a 12 month high of $43.89. The company has a 50-day moving average of $37.71 and a 200-day moving average of $40.24. The stock has a market cap of $237.84 billion, a PE ratio of 16.47 and a beta of 0.35.
The company also recently declared a quarterly dividend, which was paid on Tuesday, November 1st. Stockholders of record on Monday, October 10th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.96%. The ex-dividend date of this dividend was Wednesday, October 5th. AT&T’s dividend payout ratio is currently 81.70%.
In other news, Director Geoffrey Y. Yang purchased 27,129 shares of the stock in a transaction dated Tuesday, October 25th. The shares were acquired at an average cost of $36.91 per share, for a total transaction of $1,001,331.39. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 0.07% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. American Economic Planning Group Inc. ADV boosted its stake in AT&T by 0.4% in the third quarter. American Economic Planning Group Inc. ADV now owns 8,898 shares of the company’s stock worth $362,000 after buying an additional 32 shares in the last quarter. Family Firm Inc. boosted its stake in AT&T by 0.5% in the second quarter. Family Firm Inc. now owns 7,536 shares of the company’s stock worth $326,000 after buying an additional 35 shares during the period. Delphi Private Advisors LLC boosted its stake in AT&T by 0.9% in the second quarter. Delphi Private Advisors LLC now owns 5,074 shares of the company’s stock worth $219,000 after buying an additional 44 shares during the period. Cornerstone Investment Partners LLC boosted its stake in AT&T by 0.6% in the second quarter. Cornerstone Investment Partners LLC now owns 9,554 shares of the company’s stock worth $413,000 after buying an additional 54 shares during the period. Finally, Cohen Lawrence B boosted its stake in AT&T by 0.4% in the second quarter. Cohen Lawrence B now owns 13,585 shares of the company’s stock worth $587,000 after buying an additional 60 shares during the period. Institutional investors and hedge funds own 53.97% of the company’s stock.
AT&T Inc is a holding company. The Company offers communications and digital entertainment services in the United States and the world. It operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Business Solutions segment includes various categories, including wireless service, fixed strategic services, legacy voice and data services, other services and wireless equipment.