AT&T (NYSE:T) Trading 2.1% Higher

AT&T Inc. (NYSE:T)’s stock price traded up 2.1% during mid-day trading on Monday . The company traded as high as $22.19 and last traded at $22.10. 10,442,544 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 35,960,500 shares. The stock had previously closed at $21.64.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on T shares. The Goldman Sachs Group started coverage on AT&T in a report on Monday, July 1st. They set a “buy” rating and a $22.00 price objective on the stock. Citigroup upped their price objective on AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft upped their price objective on AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, June 28th. JPMorgan Chase & Co. upped their price objective on AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, UBS Group reaffirmed a “buy” rating and set a $24.00 price objective on shares of AT&T in a report on Tuesday, June 18th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, AT&T has a consensus rating of “Hold” and a consensus target price of $22.31.

AT&T Trading Down 0.2 %

The business has a fifty day moving average price of $19.72 and a 200 day moving average price of $18.26. The company has a market capitalization of $155.84 billion, a PE ratio of 11.68, a P/E/G ratio of 3.68 and a beta of 0.59. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70.

AT&T (NYSE:T) last announced its earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, meeting the consensus estimate of $0.57. The business had revenue of $29.80 billion for the quarter, compared to the consensus estimate of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The company’s revenue was down .3% on a year-over-year basis. During the same period last year, the business posted $0.63 EPS. Analysts expect that AT&T Inc. will post 2.2 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were paid a dividend of $0.2775 per share. The ex-dividend date was Wednesday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.11%. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Institutional Investors Weigh In On AT&T

A number of hedge funds have recently bought and sold shares of the business. Frank Rimerman Advisors LLC acquired a new position in shares of AT&T in the 4th quarter worth approximately $25,000. Pineridge Advisors LLC acquired a new position in shares of AT&T in the 4th quarter worth approximately $25,000. Strategic Financial Concepts LLC grew its position in shares of AT&T by 227.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after acquiring an additional 91,578 shares in the last quarter. Riggs Asset Managment Co. Inc. grew its position in shares of AT&T by 356.5% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after acquiring an additional 1,116 shares in the last quarter. Finally, American Capital Advisory LLC grew its position in shares of AT&T by 107.5% in the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after acquiring an additional 807 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

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.