AT&T (NYSE:T) Hits New 1-Year High After Analyst Upgrade

AT&T Inc. (NYSE:T)’s stock price reached a new 52-week high during trading on Wednesday after Oppenheimer raised their price target on the stock from $27.00 to $32.00. Oppenheimer currently has an outperform rating on the stock. AT&T traded as high as $28.61 and last traded at $28.49, with a volume of 43976615 shares traded. The stock had previously closed at $28.28.

Several other brokerages have also issued reports on T. Scotiabank raised their target price on AT&T from $26.00 to $28.50 and gave the company a “sector outperform” rating in a research report on Monday, March 3rd. Barclays upped their price target on shares of AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Citigroup boosted their price objective on AT&T from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Monday. Morgan Stanley raised shares of AT&T from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $19.00 to $28.00 in a report on Monday, December 16th. Finally, Royal Bank of Canada boosted their target price on AT&T from $27.00 to $28.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $27.21.

Institutional Investors Weigh In On AT&T

Large investors have recently modified their holdings of the stock. Capital A Wealth Management LLC bought a new stake in shares of AT&T during the 4th quarter valued at $25,000. Minot DeBlois Advisors LLC bought a new position in AT&T in the 4th quarter valued at approximately $25,000. Legacy Investment Solutions LLC bought a new stake in shares of AT&T in the 3rd quarter worth $25,000. Putney Financial Group LLC purchased a new position in AT&T in the 4th quarter worth about $27,000. Finally, Marshall Investment Management LLC bought a new position in AT&T during the fourth quarter valued at approximately $28,000. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

The firm has a market cap of $205.20 billion, a P/E ratio of 19.19, a P/E/G ratio of 3.00 and a beta of 0.56. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. The business’s 50-day simple moving average is $26.18 and its 200 day simple moving average is $23.70.

AT&T (NYSE:T) last posted its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts predict that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 3.88%. The ex-dividend date is Thursday, April 10th. AT&T’s dividend payout ratio is currently 74.50%.

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.