AT&T Inc. (NYSE:T – Get Free Report) shares traded up 1.8% on Tuesday . The stock traded as high as $19.30 and last traded at $19.25. 8,303,882 shares traded hands during trading, a decline of 77% from the average session volume of 36,753,637 shares. The stock had previously closed at $18.91.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. The Goldman Sachs Group started coverage on shares of AT&T in a report on Monday, July 1st. They set a “buy” rating and a $22.00 target price for the company. StockNews.com cut shares of AT&T from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. Evercore ISI upped their price target on shares of AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a research report on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $22.33.
View Our Latest Research Report on T
AT&T Trading Up 0.8 %
AT&T (NYSE:T – Get Free Report) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, hitting the consensus estimate of $0.57. The company had revenue of $29.80 billion for the quarter, compared to the consensus estimate of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The firm’s revenue was down .3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.63 EPS. As a group, sell-side analysts forecast that AT&T Inc. will post 2.22 EPS for the current year.
AT&T Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 5.72%. The ex-dividend date was Wednesday, July 10th. AT&T’s dividend payout ratio is presently 59.68%.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the business. Cantor Fitzgerald Investment Advisors L.P. bought a new stake in shares of AT&T in the 4th quarter valued at about $11,554,000. Provence Wealth Management Group boosted its holdings in shares of AT&T by 55.8% in the 4th quarter. Provence Wealth Management Group now owns 16,217 shares of the technology company’s stock valued at $272,000 after buying an additional 5,807 shares in the last quarter. Clearbridge Investments LLC boosted its holdings in shares of AT&T by 250.3% in the 4th 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. Brighton Jones LLC boosted its stake in AT&T by 12.6% in the 4th quarter. Brighton Jones LLC now owns 46,265 shares of the technology company’s stock worth $776,000 after purchasing an additional 5,161 shares in the last quarter. Finally, Summa Corp. acquired a new stake in AT&T in the 4th quarter worth approximately $395,000. 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.
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