AT&T Inc. (NYSE:T – Get Free Report) shares shot up 0.7% on Wednesday . The stock traded as high as $19.84 and last traded at $19.78. 3,052,705 shares were traded during trading, a decline of 91% from the average session volume of 35,509,590 shares. The stock had previously closed at $19.65.
Analyst Upgrades and Downgrades
T has been the topic of several research reports. TD Cowen raised their target price on shares of AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Daiwa America raised shares of AT&T to a “hold” rating in a research report on Friday, July 26th. The Goldman Sachs Group assumed coverage on shares of AT&T in a research report on Monday, July 1st. They set a “buy” rating and a $22.00 target price for the company. Oppenheimer increased their price target on shares of AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, Moffett Nathanson boosted their price objective on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.06.
Check Out Our Latest Stock Report on T
AT&T Stock Performance
AT&T (NYSE:T – Get Free Report) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting the consensus estimate of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The company had revenue of $29.80 billion during the quarter, compared to analyst estimates of $30.05 billion. During the same quarter last year, the firm posted $0.63 EPS. The business’s revenue for the quarter was down .3% on a year-over-year basis. On average, analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current year.
AT&T Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were paid a dividend of $0.2775 per share. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.58%. AT&T’s dividend payout ratio (DPR) is currently 59.68%.
Hedge Funds Weigh In On AT&T
A number of large investors have recently added to or reduced their stakes in T. Frank Rimerman Advisors LLC bought a new position in AT&T in the 4th quarter valued at about $25,000. Pineridge Advisors LLC purchased a new stake in AT&T in the 4th quarter valued at $25,000. Strategic Financial Concepts LLC lifted its holdings in AT&T by 227.6% during the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after acquiring an additional 91,578 shares during the period. Riggs Asset Managment Co. Inc. lifted its stake in AT&T by 356.5% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after purchasing an additional 1,116 shares during the last quarter. Finally, First Pacific Financial boosted its holdings in AT&T by 166.7% in the 1st quarter. First Pacific Financial now owns 1,600 shares of the technology company’s stock worth $28,000 after buying an additional 1,000 shares during the period. 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.
See Also
- Five stocks we like better than AT&T
- What is the Dogs of the Dow Strategy? Overview and Examples
- The Solar Stock Battle: Is Daqo or JinkoSolar Your Next Big Win?
- High Dividend REITs: Are They an Ideal Way to Diversify?
- Are These Chinese Stocks a Buy? Michael Burry’s Top Picks Say Yes
- Which Wall Street Analysts are the Most Accurate?
- Five Below Stock Faces Challenges Despite Strong Revenue Growth
Receive News & Ratings for AT&T Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AT&T and related companies with MarketBeat.com's FREE daily email newsletter.