AT&T (NYSE:T) Trading Up 2.2% – What’s Next?

Shares of AT&T Inc. (NYSE:T) shot up 2.2% during mid-day trading on Thursday . The company traded as high as $29.03 and last traded at $28.75. 16,788,357 shares traded hands during trading, a decline of 54% from the average session volume of 36,227,675 shares. The stock had previously closed at $28.14.

Wall Street Analyst Weigh In

Several analysts have issued reports on T shares. UBS Group raised their price target on shares of AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Morgan Stanley upgraded 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 note on Monday, December 16th. DZ Bank upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Wednesday, January 29th. Royal Bank of Canada raised their price target on shares of AT&T from $27.00 to $28.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 19th. Finally, Tigress Financial upped their price objective on AT&T from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.21.

AT&T Stock Performance

The firm has a fifty day moving average of $26.26 and a 200-day moving average of $23.73. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The firm has a market cap of $191.27 billion, a P/E ratio of 17.88, a PEG ratio of 3.00 and a beta of 0.42.

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

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.17%. The ex-dividend date of this dividend is Thursday, April 10th. AT&T’s payout ratio is 74.50%.

Institutional Investors Weigh In On AT&T

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Legacy Investment Solutions LLC bought a new stake in AT&T in the third quarter valued at approximately $25,000. Minot DeBlois Advisors LLC bought a new stake in AT&T in the 4th quarter valued at $25,000. Capital A Wealth Management LLC acquired a new stake in AT&T during the 4th quarter valued at $25,000. Putney Financial Group LLC bought a new stake in shares of AT&T during the 4th quarter worth about $27,000. Finally, Marshall Investment Management LLC bought a new stake in shares of AT&T during the fourth quarter worth approximately $28,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

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.