Shares of AT&T Inc. (NYSE:T – Get Free Report) shot up 0.9% during mid-day trading on Tuesday . The company traded as high as $16.49 and last traded at $16.45. 10,971,878 shares were traded during mid-day trading, a decline of 71% from the average session volume of 38,406,129 shares. The stock had previously closed at $16.31.
Analysts Set New Price Targets
A number of research firms have recently issued reports on T. Deutsche Bank Aktiengesellschaft upped their price target on AT&T from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. TheStreet upgraded AT&T from a “c” rating to a “b-” rating in a research report on Wednesday, January 24th. StockNews.com lowered AT&T from a “buy” rating to a “hold” rating in a research report on Thursday, April 4th. Oppenheimer upgraded AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a research report on Friday, January 19th. Finally, Tigress Financial increased their price objective on AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.50.
Check Out Our Latest Research Report on T
AT&T Stock Performance
AT&T (NYSE:T – Get Free Report) last announced its quarterly earnings data on Wednesday, January 24th. The technology company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). The firm had revenue of $32 billion during the quarter, compared to analyst estimates of $31.44 billion. AT&T had a net margin of 11.76% and a return on equity of 15.39%. AT&T’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.61 EPS. On average, equities analysts forecast that AT&T Inc. will post 2.21 EPS for the current year.
AT&T Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.74%. AT&T’s payout ratio is 56.63%.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. Pineridge Advisors LLC purchased a new stake in AT&T in the 4th quarter worth approximately $25,000. Frank Rimerman Advisors LLC purchased a new stake in AT&T in the 4th quarter worth approximately $25,000. Carmel Capital Partners LLC boosted its position in AT&T by 16,250.0% during the 3rd quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock worth $25,000 after purchasing an additional 1,625 shares during the period. Lipe & Dalton acquired a new stake in AT&T in the 3rd quarter valued at $30,000. Finally, Ramirez Asset Management Inc. purchased a new position in AT&T in the third quarter valued at about $30,000. 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.
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