AT&T (NYSE:T) Trading 0.7% Higher

Shares of AT&T Inc. (NYSE:T) rose 0.7% during trading on Tuesday . The company traded as high as $21.64 and last traded at $21.64. Approximately 4,844,504 shares changed hands during trading, a decline of 87% from the average daily volume of 36,233,059 shares. The stock had previously closed at $21.49.

Analysts Set New Price Targets

A number of equities analysts have issued reports on T shares. Citigroup increased their price target on AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. TD Cowen boosted 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. Barclays raised their target price on shares of AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. BNP Paribas raised AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. Finally, Oppenheimer raised their price objective on AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $22.31.

AT&T Trading Up 0.0 %

The company has a market cap of $154.16 billion, a price-to-earnings ratio of 11.63, a price-to-earnings-growth ratio of 3.79 and a beta of 0.59. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. The company’s fifty day moving average price is $19.94 and its two-hundred day moving average price is $18.38.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, hitting analysts’ consensus estimates of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The company had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. During the same quarter in the previous year, the firm earned $0.63 earnings per share. The business’s revenue was down .3% on a year-over-year basis. Research analysts expect that AT&T Inc. will post 2.2 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were paid a $0.2775 dividend. The ex-dividend date was Wednesday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.16%. AT&T’s dividend payout ratio (DPR) is currently 59.68%.

Institutional Investors Weigh In On AT&T

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Davidson Kempner Capital Management LP acquired a new stake in AT&T in the second quarter valued at $23,888,000. Clearbridge Investments LLC raised its position in shares of AT&T by 250.3% in the 4th quarter. Clearbridge Investments LLC now owns 67,303 shares of the technology company’s stock valued at $1,129,000 after buying an additional 48,091 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of AT&T by 4.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 1,037,529 shares of the technology company’s stock worth $19,827,000 after acquiring an additional 43,062 shares in the last quarter. M&G Plc bought a new position in AT&T in the first quarter valued at approximately $9,074,000. Finally, DRW Securities LLC raised its position in AT&T by 642.2% during the second quarter. DRW Securities LLC now owns 104,309 shares of the technology company’s stock valued at $1,997,000 after purchasing an additional 90,255 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

About AT&T

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.