AT&T (NYSE:T) Reaches New 1-Year High – Here’s What Happened

AT&T Inc. (NYSE:T) shares reached a new 52-week high on Thursday . The stock traded as high as $28.09 and last traded at $28.07, with a volume of 5539062 shares traded. The stock had previously closed at $27.65.

Analyst Ratings Changes

T has been the subject of a number of recent research reports. New Street Research upgraded AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. The Goldman Sachs Group upped their price target on shares of AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. JPMorgan Chase & Co. increased their price objective on shares of AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Argus raised 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 Thursday, January 16th. Finally, Oppenheimer began coverage on shares of AT&T in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and an average price target of $26.79.

AT&T Trading Up 1.6 %

The company has a market cap of $201.69 billion, a PE ratio of 18.87, a PEG ratio of 3.00 and a beta of 0.56. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. The company has a 50 day simple moving average of $25.46 and a two-hundred day simple moving average of $23.43.

AT&T (NYSE:T) last released its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. Sell-side analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

Hedge Funds Weigh In On AT&T

A number of hedge funds have recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new stake in AT&T in the third quarter worth approximately $25,000. Minot DeBlois Advisors LLC acquired a new stake in shares of AT&T in the 4th quarter valued at $25,000. Capital A Wealth Management LLC bought a new stake in AT&T in the fourth quarter worth $25,000. Putney Financial Group LLC acquired a new position in AT&T during the fourth quarter worth $27,000. Finally, Marshall Investment Management LLC bought a new position in AT&T during the fourth quarter valued at about $28,000. Institutional investors and hedge funds 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.