AT&T (NYSE:T) Shares Up 0.7%

AT&T Inc. (NYSE:TGet Free Report) shares shot up 0.7% during mid-day trading on Tuesday . The company traded as high as $18.23 and last traded at $18.14. 7,684,565 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 36,989,516 shares. The stock had previously closed at $18.01.

Wall Street Analyst Weigh In

T has been the topic of a number of research analyst reports. StockNews.com downgraded shares of AT&T from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. Scotiabank lifted their target price on AT&T from $22.00 to $22.50 and gave the company a “sector outperform” rating in a research report on Thursday, April 25th. Wolfe Research raised AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a research report on Tuesday, March 5th. Barclays raised shares of AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price objective for the company in a research note on Monday, April 29th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $17.00 target price on shares of AT&T in a research report on Thursday, April 11th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $20.81.

Read Our Latest Research Report on T

AT&T Price Performance

The stock has a market cap of $131.14 billion, a price-to-earnings ratio of 9.75, a price-to-earnings-growth ratio of 3.58 and a beta of 0.60. The stock’s 50 day moving average price is $17.10 and its two-hundred day moving average price is $16.95. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06.

AT&T (NYSE:TGet Free Report) last released its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The firm had revenue of $30.03 billion for the quarter, compared to analyst estimates of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The business’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.60 earnings per share. Equities research analysts forecast that AT&T Inc. will post 2.24 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 6.07%. The ex-dividend date was Tuesday, April 9th. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Hedge Funds Weigh In On AT&T

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Frank Rimerman Advisors LLC purchased a new position in shares of AT&T in the fourth quarter worth about $25,000. Pineridge Advisors LLC acquired a new stake in AT&T during the fourth quarter worth about $25,000. First Pacific Financial increased its position in shares of AT&T by 166.7% during the first quarter. First Pacific Financial now owns 1,600 shares of the technology company’s stock valued at $28,000 after acquiring an additional 1,000 shares during the last quarter. Ramirez Asset Management Inc. acquired a new stake in shares of AT&T during the third quarter valued at about $30,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA increased its position in shares of AT&T by 35.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock valued at $39,000 after acquiring an additional 606 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Company Profile

(Get Free Report)

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.

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