AT&T (NYSE:T) Trading 1.8% Higher

AT&T Inc. (NYSE:T)’s stock price traded up 1.8% during mid-day trading on Tuesday . The company traded as high as $19.30 and last traded at $19.25. 8,303,882 shares changed hands during trading, a decline of 77% from the average session volume of 36,753,637 shares. The stock had previously closed at $18.91.

Wall Street Analyst Weigh In

T has been the topic of several research reports. JPMorgan Chase & Co. raised their price target on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Daiwa America raised shares of AT&T to a “hold” rating in a research note on Friday, July 26th. TD Cowen upped their price target on shares of AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Royal Bank of Canada raised their price objective on AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. Finally, Barclays upped their target price on AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, AT&T presently has an average rating of “Moderate Buy” and a consensus target price of $22.33.

AT&T Stock Performance

The company has a 50-day moving average of $18.52 and a 200-day moving average of $17.59. The firm has a market capitalization of $137.60 billion, a price-to-earnings ratio of 10.35, a price-to-earnings-growth ratio of 3.26 and a beta of 0.58. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05.

AT&T (NYSE:T) last issued its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, hitting analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $30.05 billion. During the same period in the prior year, the company earned $0.63 earnings per share. The firm’s revenue was down .3% compared to the same quarter last year. On average, equities research analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 5.78%. The ex-dividend date was Wednesday, July 10th. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Institutional Trading of AT&T

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of AT&T by 0.4% during the first quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock valued at $10,999,912,000 after acquiring an additional 2,588,539 shares during the period. Bank of New York Mellon Corp boosted its stake in AT&T by 7.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock valued at $1,549,375,000 after purchasing an additional 5,592,123 shares during the period. Norges Bank bought a new position in AT&T in the 4th quarter worth about $1,118,288,000. Charles Schwab Investment Management Inc. increased its stake in shares of AT&T by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 50,589,421 shares of the technology company’s stock valued at $848,888,000 after purchasing an additional 798,024 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of AT&T by 2.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 47,377,267 shares of the technology company’s stock valued at $794,978,000 after buying an additional 1,137,792 shares during the last quarter. 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.