AT&T Inc. (NYSE:T) declared a quarterly dividend on Friday, June 26th, Zacks reports. Stockholders of record on Friday, July 10th will be paid a dividend of 0.52 per share by the technology company on Monday, August 3rd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 6.86%. The ex-dividend date of this dividend is Thursday, July 9th.
AT&T has increased its dividend by an average of 4.4% per year over the last three years and has increased its dividend annually for the last 35 consecutive years. AT&T has a payout ratio of 64.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect AT&T to earn $3.37 per share next year, which means the company should continue to be able to cover its $2.08 annual dividend with an expected future payout ratio of 61.7%.
Shares of T opened at $30.32 on Wednesday. The company has a 50-day simple moving average of $30.54 and a 200-day simple moving average of $33.57. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $217.79 billion, a PE ratio of 15.39, a P/E/G ratio of 1.73 and a beta of 0.72. AT&T has a 52-week low of $26.08 and a 52-week high of $39.70.
Several equities research analysts have issued reports on T shares. Raymond James cut shares of AT&T from an “outperform” rating to a “market perform” rating in a research note on Monday, March 16th. SunTrust Banks decreased their price target on shares of AT&T from $36.00 to $30.00 and set a “hold” rating on the stock in a research note on Friday, April 3rd. Deutsche Bank decreased their price target on shares of AT&T from $45.00 to $38.00 and set a “buy” rating on the stock in a research note on Tuesday, April 28th. DZ Bank cut shares of AT&T from a “hold” rating to a “sell” rating and set a $26.00 price target on the stock. in a research note on Friday, April 24th. Finally, Oppenheimer started coverage on shares of AT&T in a research note on Wednesday, April 22nd. They set a “buy” rating and a $47.00 price target on the stock. Four investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $35.94.
In related news, Director Geoffrey Y. Yang acquired 6,754 shares of AT&T stock in a transaction that occurred on Friday, April 24th. The stock was acquired at an average price of $29.39 per share, with a total value of $198,500.06. Following the completion of the acquisition, the director now directly owns 9,398 shares of the company’s stock, valued at approximately $276,207.22. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Stephen J. Luczo acquired 36,000 shares of AT&T stock in a transaction that occurred on Wednesday, April 22nd. The stock was bought at an average cost of $29.38 per share, with a total value of $1,057,680.00. The disclosure for this purchase can be found here. 0.07% of the stock is owned by insiders.
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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