AT&T (NYSE:T) Stock Price Up 1.1%

AT&T Inc. (NYSE:T)’s stock price was up 1.1% during mid-day trading on Tuesday . The stock traded as high as $18.82 and last traded at $18.78. Approximately 5,364,734 shares were traded during trading, a decline of 85% from the average daily volume of 36,134,754 shares. The stock had previously closed at $18.58.

Analyst Ratings Changes

T has been the topic of a number of research analyst reports. UBS Group reiterated a “buy” rating and set a $24.00 price target on shares of AT&T in a report on Tuesday, June 18th. Royal Bank of Canada reissued a “sector perform” rating and issued a $18.00 price target on shares of AT&T in a research report on Wednesday, July 10th. Barclays upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 target price for the company in a research report on Monday, April 29th. BNP Paribas upgraded shares of AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. Finally, StockNews.com cut AT&T from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $21.85.

AT&T Stock Performance

The firm’s 50 day moving average price is $18.01 and its 200-day moving average price is $17.35. The firm has a market cap of $135.16 billion, a price-to-earnings ratio of 10.10, a P/E/G ratio of 3.55 and a beta of 0.58. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.63.

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

AT&T Announces Dividend

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

Hedge Funds Weigh In On AT&T

Hedge funds have recently made changes to their positions in the business. Cantor Fitzgerald Investment Advisors L.P. bought a new stake in shares of AT&T in the 4th quarter worth about $11,554,000. Provence Wealth Management Group increased its holdings in AT&T by 55.8% during the 4th quarter. Provence Wealth Management Group now owns 16,217 shares of the technology company’s stock valued at $272,000 after purchasing an additional 5,807 shares in the last quarter. Clearbridge Investments LLC increased its stake in shares of AT&T by 250.3% in the fourth quarter. Clearbridge Investments LLC now owns 67,303 shares of the technology company’s stock valued at $1,129,000 after buying an additional 48,091 shares in the last quarter. Retireful LLC bought a new position in shares of AT&T in the fourth quarter valued at about $1,163,000. Finally, Brighton Jones LLC lifted its position in AT&T by 12.6% during the 4th quarter. Brighton Jones LLC now owns 46,265 shares of the technology company’s stock worth $776,000 after buying an additional 5,161 shares in the last quarter. Institutional investors and hedge funds 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.