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

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

Analyst Ratings Changes

A number of research analysts have recently weighed in on T shares. Citigroup raised their price target on shares of AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Moffett Nathanson raised their price objective on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Barclays raised their price objective on AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Scotiabank cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, Oppenheimer boosted their price target on AT&T from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and a consensus target price of $22.31.

AT&T Trading Up 2.8 %

The stock has a 50-day simple moving average of $19.59 and a two-hundred day simple moving average of $18.19. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. The firm has a market cap of $159.47 billion, a PE ratio of 11.88, a price-to-earnings-growth ratio of 3.68 and a beta of 0.59.

AT&T (NYSE:T) last posted 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 company 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%. AT&T’s revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.63 earnings per share. As a group, sell-side analysts anticipate that AT&T Inc. will post 2.2 EPS for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were issued a $0.2775 dividend. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.99%. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Frank Rimerman Advisors LLC bought a new stake in AT&T during the 4th quarter valued at about $25,000. Pineridge Advisors LLC purchased a new position in shares of AT&T during the fourth quarter worth approximately $25,000. Strategic Financial Concepts LLC raised its stake in shares of AT&T by 227.6% during the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after acquiring an additional 91,578 shares in the last quarter. Riggs Asset Managment Co. Inc. boosted its holdings in shares of AT&T by 356.5% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after purchasing an additional 1,116 shares during the period. Finally, American Capital Advisory LLC raised its holdings in shares of AT&T by 107.5% in the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after acquiring an additional 807 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Company Profile

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.