AT&T (NYSE:T) Trading 0.5% Higher

AT&T Inc. (NYSE:T)’s stock price was up 0.5% on Thursday . The stock traded as high as $20.83 and last traded at $20.68. Approximately 7,726,012 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 35,542,242 shares. The stock had previously closed at $20.57.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Oppenheimer increased their price objective on AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. BNP Paribas raised shares of AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 11th. TD Cowen increased their price objective on shares of AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Daiwa America raised AT&T to a “hold” rating in a report on Friday, July 26th. Finally, Moffett Nathanson lifted their price target on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.06.

AT&T Price Performance

The firm has a market capitalization of $147.42 billion, a price-to-earnings ratio of 11.07, a P/E/G ratio of 3.36 and a beta of 0.59. The company’s 50 day moving average is $19.23 and its 200 day moving average is $17.96. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05.

AT&T (NYSE:T) last released its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.57. The firm had revenue of $29.80 billion during 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% compared to the same quarter last year. During the same period in the prior year, the company posted $0.63 EPS. On average, equities research analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 5.40%. The ex-dividend date of this dividend was Wednesday, July 10th. AT&T’s dividend payout ratio is 59.68%.

Institutional Trading of AT&T

Several hedge funds and other institutional investors have recently made changes to their positions in T. Vanguard Group Inc. lifted its holdings in AT&T by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock worth $10,999,912,000 after buying an additional 2,588,539 shares during the period. Bank of New York Mellon Corp boosted its holdings in AT&T by 7.4% in the second quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock valued at $1,549,375,000 after acquiring an additional 5,592,123 shares during the last quarter. Norges Bank acquired a new stake in AT&T during the 4th quarter valued at approximately $1,118,288,000. Legal & General Group Plc raised its holdings in AT&T by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock worth $1,148,689,000 after purchasing an additional 1,569,374 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of AT&T by 2.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock worth $985,307,000 after purchasing an additional 1,007,228 shares during the period. 57.10% of the stock is currently owned by institutional investors.

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.