AT&T Inc. (NYSE:T) declared a quarterly dividend on Friday, June 28th, RTT News reports. Shareholders of record on Wednesday, July 10th will be paid a dividend of 0.51 per share by the technology company on Thursday, August 1st. This represents a $2.04 dividend on an annualized basis and a yield of 6.22%. The ex-dividend date of this dividend is Tuesday, July 9th.
AT&T has raised its dividend by an average of 2.1% annually over the last three years and has raised its dividend every year for the last 34 years. AT&T has a dividend payout ratio of 58.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect AT&T to earn $3.66 per share next year, which means the company should continue to be able to cover its $2.04 annual dividend with an expected future payout ratio of 55.7%.
Shares of NYSE:T traded down $0.30 during trading on Friday, hitting $32.79. 32,147,185 shares of the company’s stock traded hands, compared to its average volume of 25,507,694. The firm has a 50-day simple moving average of $32.78. AT&T has a 52 week low of $26.80 and a 52 week high of $34.37. The firm has a market cap of $239.31 billion, a P/E ratio of 9.32, a price-to-earnings-growth ratio of 2.04 and a beta of 0.61. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.84.
A number of research analysts recently weighed in on the company. ValuEngine lowered Wolverine World Wide from a “hold” rating to a “sell” rating in a report on Monday, May 20th. Desjardins reissued an “average” rating and set a $90.00 target price on shares of MFS California Municipal Fund in a report on Friday, April 5th. Finally, Bank of America boosted their target price on CarMax from $95.00 to $112.00 in a report on Monday, June 24th. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. AT&T currently has a consensus rating of “Buy” and an average target price of $36.77.
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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