AT&T (NYSE:T) Trading Up 0.6% – Here’s Why

Shares of AT&T Inc. (NYSE:TGet Free Report) were up 0.6% on Friday . The company traded as high as $22.40 and last traded at $22.39. Approximately 7,161,780 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 35,362,418 shares. The stock had previously closed at $22.25.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Royal Bank of Canada reissued a “sector perform” rating and set a $22.00 price target on shares of AT&T in a report on Thursday, October 24th. Citigroup increased their target price on shares of AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Moffett Nathanson lifted their price target on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Daiwa America raised shares of AT&T to a “hold” rating in a research note on Friday, July 26th. Finally, TD Cowen boosted their target price on shares of AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $23.40.

Read Our Latest Stock Report on AT&T

AT&T Price Performance

The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. The company has a fifty day moving average of $21.89 and a 200 day moving average of $19.71. The firm has a market capitalization of $162.74 billion, a P/E ratio of 18.45, a PEG ratio of 3.35 and a beta of 0.59.

AT&T (NYSE:TGet Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.03. The company had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. AT&T’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.64 earnings per share. Sell-side analysts predict that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were given a dividend of $0.2775 per share. The ex-dividend date was Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.89%. AT&T’s payout ratio is 90.24%.

Institutional Trading of AT&T

Several hedge funds have recently modified their holdings of the stock. Davidson Kempner Capital Management LP bought a new stake in AT&T in the 2nd quarter valued at about $23,888,000. Talbot Financial LLC bought a new stake in shares of AT&T during the third quarter valued at approximately $7,438,000. Mackenzie Financial Corp raised its position in shares of AT&T by 12.2% during the second quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock worth $50,486,000 after purchasing an additional 288,093 shares during the period. DRW Securities LLC lifted its holdings in shares of AT&T by 642.2% in the 2nd quarter. DRW Securities LLC now owns 104,309 shares of the technology company’s stock worth $1,997,000 after purchasing an additional 90,255 shares in the last quarter. Finally, Van ECK Associates Corp grew its position in AT&T by 7.2% in the 3rd quarter. Van ECK Associates Corp now owns 396,958 shares of the technology company’s stock valued at $8,928,000 after purchasing an additional 26,706 shares during the period. Institutional investors own 57.10% of the company’s stock.

AT&T Company Profile

(Get Free Report)

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.

See Also

Receive News & Ratings for AT&T Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AT&T and related companies with MarketBeat.com's FREE daily email newsletter.