AT&T (NYSE:T) Stock Price Up 0.6% on Analyst Upgrade

AT&T Inc. (NYSE:T) was up 0.6% on Tuesday 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 $28.49 and last traded at $28.45. Approximately 13,478,048 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 41,593,508 shares. The stock had previously closed at $28.28.

Other equities research analysts have also issued research reports about the company. Tigress Financial upped their price objective on AT&T from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. DZ Bank raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Wednesday, January 29th. UBS Group lifted their price objective on shares of AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Morgan Stanley raised shares of AT&T from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $19.00 to $28.00 in a research note on Monday, December 16th. Finally, Barclays raised their target price on AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.21.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in T. Tradition Wealth Management LLC acquired a new position in AT&T during the 3rd quarter worth about $270,000. Kestra Investment Management LLC bought a new position in shares of AT&T in the third quarter worth about $382,000. Paloma Partners Management Co lifted its position in shares of AT&T by 141.8% during the third quarter. Paloma Partners Management Co now owns 31,038 shares of the technology company’s stock worth $683,000 after purchasing an additional 105,338 shares in the last quarter. Benjamin Edwards Inc. grew its stake in shares of AT&T by 1,855.5% during the third quarter. Benjamin Edwards Inc. now owns 92,810 shares of the technology company’s stock valued at $2,042,000 after purchasing an additional 88,064 shares during the last quarter. Finally, Concentric Capital Strategies LP acquired a new stake in shares of AT&T in the third quarter valued at approximately $1,978,000. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 0.7 %

The stock has a market cap of $204.47 billion, a P/E ratio of 19.12, a PEG 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 firm’s 50-day moving average is $25.94 and its two-hundred day moving average is $23.64.

AT&T (NYSE:T) last released its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. On average, equities research analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.90%. AT&T’s payout ratio is 74.50%.

About AT&T

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.