AT&T (NYSE:T) Stock Price Up 0.3%

AT&T Inc. (NYSE:T)’s stock price rose 0.3% on Tuesday . The company traded as high as $18.87 and last traded at $18.87. Approximately 7,279,829 shares changed hands during trading, a decline of 80% from the average daily volume of 36,335,020 shares. The stock had previously closed at $18.81.

Wall Street Analyst Weigh In

T has been the subject of several recent analyst reports. Scotiabank upped their price objective on AT&T from $22.50 to $23.00 and gave the stock a “sector outperform” rating in a research report on Wednesday. Royal Bank of Canada restated a “sector perform” rating and set a $18.00 price objective on shares of AT&T in a research report on Wednesday. Deutsche Bank Aktiengesellschaft upped their price objective on AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. The Goldman Sachs Group assumed coverage on AT&T in a research report on Monday, July 1st. They set a “buy” rating and a $22.00 price objective for the company. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $21.00 target price on shares of AT&T in a report on Tuesday, June 25th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $21.85.

AT&T Stock Up 0.6 %

The firm has a 50 day moving average of $17.90 and a 200 day moving average of $17.30. The firm has a market cap of $135.23 billion, a price-to-earnings ratio of 10.13, a PEG ratio of 3.55 and a beta of 0.58. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06.

AT&T (NYSE:T) last released its earnings results on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.53 by $0.02. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The business had revenue of $30.03 billion during the quarter, compared to analysts’ expectations of $30.62 billion. During the same quarter last year, the firm posted $0.60 earnings per share. The firm’s revenue was down .4% on a year-over-year basis. As a group, sell-side analysts predict that AT&T Inc. will post 2.23 earnings per share for the current year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.89%. AT&T’s payout ratio is 59.68%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Frank Rimerman Advisors LLC purchased a new position in AT&T in the fourth quarter worth $25,000. Pineridge Advisors LLC purchased a new position in AT&T in the fourth quarter worth $25,000. First Pacific Financial boosted its position in 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 purchasing an additional 1,000 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA boosted its position in AT&T by 35.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock worth $39,000 after purchasing an additional 606 shares during the last quarter. Finally, Western Pacific Wealth Management LP bought a new stake in shares of AT&T in the fourth quarter valued at $39,000. Hedge funds and other 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.