AT&T (NYSE:T) Stock Price Up 0.9%

AT&T Inc. (NYSE:T)’s stock price rose 0.9% during trading on Tuesday . The stock traded as high as $16.49 and last traded at $16.45. Approximately 10,971,878 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 38,406,129 shares. The stock had previously closed at $16.31.

Analysts Set New Price Targets

T has been the subject of several research analyst reports. Citigroup raised their target price on shares of AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. JPMorgan Chase & Co. raised shares of AT&T from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $18.00 to $21.00 in a research report on Thursday, February 1st. TheStreet upgraded shares of AT&T from a “c” rating to a “b-” rating in a research note on Wednesday, January 24th. Tigress Financial increased their price target on shares of AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Finally, Barclays increased their price target on shares of AT&T from $17.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 31st. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $20.50.

AT&T Stock Performance

The business’s fifty day moving average price is $16.98 and its 200-day moving average price is $16.54. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.71. The stock has a market cap of $120.24 billion, a PE ratio of 8.58, a P/E/G ratio of 2.49 and a beta of 0.57.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, January 24th. The technology company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). The company had revenue of $32 billion for the quarter, compared to analysts’ expectations of $31.44 billion. AT&T had a net margin of 11.76% and a return on equity of 15.39%. The business’s revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.61 EPS. As a group, equities research analysts forecast that AT&T Inc. will post 2.21 EPS for the current fiscal 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 issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.60%. The ex-dividend date of this dividend is Tuesday, April 9th. AT&T’s payout ratio is presently 56.63%.

Hedge Funds Weigh In On AT&T

Institutional investors and hedge funds have recently made changes to their positions in the business. Pineridge Advisors LLC purchased a new position in shares of AT&T in the fourth quarter worth approximately $25,000. Frank Rimerman Advisors LLC purchased a new position in shares of AT&T in the fourth quarter worth approximately $25,000. First Pacific Financial boosted its holdings in shares of AT&T by 166.7% in the first quarter. First Pacific Financial now owns 1,600 shares of the technology company’s stock worth $28,000 after buying an additional 1,000 shares during the last quarter. Carmel Capital Partners LLC boosted its holdings in shares of AT&T by 16,250.0% in the third quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock worth $25,000 after buying an additional 1,625 shares during the last quarter. Finally, Lipe & Dalton purchased a new position in shares of AT&T in the third quarter worth approximately $30,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

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.