AT&T (NYSE:T) Reaches New 12-Month High Following Analyst Upgrade

AT&T Inc. (NYSE:T)’s share price hit a new 52-week high during trading on Monday after Scotiabank raised their price target on the stock from $26.00 to $28.50. Scotiabank currently has a sector outperform rating on the stock. AT&T traded as high as $27.63 and last traded at $27.68, with a volume of 3616825 shares traded. The stock had previously closed at $27.41.

T has been the topic of a number of other reports. UBS Group upped their price target on shares of AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Sanford C. Bernstein raised their price target on shares of AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Morgan Stanley raised shares of AT&T from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $19.00 to $28.00 in a research note on Monday, December 16th. Citigroup increased their price objective on shares of AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, The Goldman Sachs Group increased their price objective on shares of AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. One analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, AT&T presently has an average rating of “Moderate Buy” and a consensus price target of $26.45.

Hedge Funds Weigh In On AT&T

A number of hedge funds have recently added to or reduced their stakes in T. Capital A Wealth Management LLC bought a new stake in AT&T in the fourth quarter valued at $25,000. Minot DeBlois Advisors LLC bought a new stake in shares of AT&T during the fourth quarter valued at about $25,000. Legacy Investment Solutions LLC bought a new stake in shares of AT&T during the third quarter valued at about $25,000. Putney Financial Group LLC bought a new stake in AT&T in the fourth quarter worth about $27,000. Finally, Marshall Investment Management LLC bought a new stake in AT&T in the fourth quarter worth about $28,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Trading Up 1.0 %

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’s 50-day simple moving average is $24.01 and its 200 day simple moving average is $22.64. The stock has a market capitalization of $198.76 billion, a P/E ratio of 18.58, a PEG ratio of 3.00 and a beta of 0.59.

AT&T (NYSE:T) last issued its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping 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%. Equities research analysts anticipate that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were paid a dividend of $0.2775 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.11 annualized dividend and a yield of 4.01%. AT&T’s dividend payout ratio (DPR) is presently 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.