AT&T (NYSE:T) Stock Price Up 0.1% – Here’s Why

AT&T Inc. (NYSE:T)’s stock price traded up 0.1% during trading on Thursday . The company traded as high as $26.27 and last traded at $26.26. 6,320,011 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 37,010,289 shares. The stock had previously closed at $26.24.

Wall Street Analyst Weigh In

T has been the subject of several research reports. The Goldman Sachs Group increased their price objective on AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Oppenheimer began coverage on AT&T in a report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price objective for the company. Tigress Financial upped their price objective on shares of AT&T from $30.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. DZ Bank upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Wednesday, January 29th. Finally, Royal Bank of Canada upped their price target on shares of AT&T from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $26.33.

AT&T Trading Down 0.9 %

The stock’s 50 day simple moving average is $23.38 and its 200 day simple moving average is $22.20. The firm has a market cap of $186.74 billion, a PE ratio of 17.45, a PEG ratio of 2.99 and a beta of 0.59. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66.

AT&T (NYSE:T) last announced its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. On average, sell-side analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were issued a dividend of $0.2775 per share. The ex-dividend date was Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.27%. AT&T’s dividend payout ratio is 74.50%.

Institutional Investors Weigh In On AT&T

Institutional investors have recently made changes to their positions in the business. AMF Tjanstepension AB increased its stake in AT&T by 305.1% in the 3rd quarter. AMF Tjanstepension AB now owns 1,541,724 shares of the technology company’s stock worth $33,918,000 after purchasing an additional 1,161,152 shares during the period. Whittier Trust Co. increased its stake in shares of AT&T by 1.9% in the third quarter. Whittier Trust Co. now owns 58,961 shares of the technology company’s stock worth $1,297,000 after buying an additional 1,078 shares during the period. Foundations Investment Advisors LLC raised its holdings in AT&T by 20.4% during the 3rd quarter. Foundations Investment Advisors LLC now owns 292,688 shares of the technology company’s stock valued at $6,439,000 after buying an additional 49,590 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in AT&T by 45.8% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 247,992 shares of the technology company’s stock valued at $5,456,000 after buying an additional 77,849 shares during the period. Finally, Alexander Labrunerie & CO. Inc. grew its holdings in AT&T by 35.0% in the 3rd quarter. Alexander Labrunerie & CO. Inc. now owns 31,629 shares of the technology company’s stock worth $696,000 after acquiring an additional 8,196 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.