AT&T (NYSE:T) Shares Up 1.5% – Here’s What Happened

AT&T Inc. (NYSE:T) shot up 1.5% during mid-day trading on Friday . The stock traded as high as $27.19 and last traded at $27.20. 17,051,290 shares changed hands during trading, a decline of 50% from the average session volume of 34,009,969 shares. The stock had previously closed at $26.79.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on T. Morgan Stanley upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $19.00 to $28.00 in a research report on Monday, December 16th. Royal Bank of Canada boosted their price target on shares of AT&T from $27.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday. New Street Research upgraded shares of AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 3rd. BNP Paribas upgraded shares of AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price target on the stock in a research report on Thursday, February 13th. Finally, Oppenheimer began coverage on shares of AT&T in a report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $26.79.

AT&T Trading Up 0.3 %

The company has a market cap of $192.93 billion, a P/E ratio of 18.04, a P/E/G ratio of 3.00 and a beta of 0.56. The stock’s 50-day moving average is $25.02 and its two-hundred day moving average is $23.23. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62.

AT&T (NYSE:T) last released its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. As a group, equities research analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in T. Segall Bryant & Hamill LLC bought a new stake in shares of AT&T during the 3rd quarter valued at $1,030,000. Commerce Bank raised its position in shares of AT&T by 0.9% during the 3rd quarter. Commerce Bank now owns 440,927 shares of the technology company’s stock valued at $9,700,000 after purchasing an additional 3,921 shares during the period. Ontario Teachers Pension Plan Board raised its position in shares of AT&T by 71.2% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 36,409 shares of the technology company’s stock valued at $801,000 after purchasing an additional 15,141 shares during the period. King Luther Capital Management Corp raised its position in shares of AT&T by 1.0% during the 3rd quarter. King Luther Capital Management Corp now owns 1,482,990 shares of the technology company’s stock valued at $32,626,000 after purchasing an additional 14,933 shares during the period. Finally, Intech Investment Management LLC raised its position in shares of AT&T by 1.9% during the 3rd quarter. Intech Investment Management LLC now owns 290,672 shares of the technology company’s stock valued at $6,395,000 after purchasing an additional 5,469 shares during the period. 57.10% of the stock is currently owned by institutional investors.

AT&T Company Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.