AT&T (NYSE:T) Hits New 52-Week High at $19.99

Shares of AT&T Inc. (NYSE:T) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $19.99 and last traded at $19.93, with a volume of 3291436 shares trading hands. The stock had previously closed at $19.47.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. TD Cowen raised their price target on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a report on Thursday, July 25th. BNP Paribas raised AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. Barclays raised their price target on AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Scotiabank lifted their target price on AT&T from $23.00 to $24.00 and gave the stock a “sector outperform” rating in a report on Thursday, July 25th. Finally, Daiwa America raised AT&T to a “hold” rating in a report on Friday, July 26th. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, AT&T currently has an average rating of “Moderate Buy” and a consensus price target of $22.33.

AT&T Stock Up 1.3 %

The business has a fifty day moving average of $18.46 and a 200 day moving average of $17.53. The firm has a market cap of $141.40 billion, a P/E ratio of 10.47, a P/E/G ratio of 3.24 and a beta of 0.58. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, hitting the consensus estimate of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The company had revenue of $29.80 billion during the quarter, compared to analysts’ expectations of $30.05 billion. During the same period in the prior year, the firm earned $0.63 earnings per share. AT&T’s revenue for the quarter was down .3% compared to the same quarter last year. On average, equities research analysts predict that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were given a $0.2775 dividend. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.63%. AT&T’s payout ratio is 59.68%.

Institutional Trading of AT&T

A number of hedge funds have recently made changes to their positions in the business. Riggs Asset Managment Co. Inc. increased its stake in shares of AT&T by 356.5% during the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after purchasing an additional 1,116 shares during the period. Pineridge Advisors LLC acquired a new stake in shares of AT&T in the 4th quarter valued at $25,000. Frank Rimerman Advisors LLC acquired a new stake in shares of AT&T in the 4th quarter valued at $25,000. American Capital Advisory LLC boosted its holdings in shares of AT&T by 107.5% in the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after purchasing an additional 807 shares in the last quarter. Finally, First Pacific Financial boosted its holdings in shares of AT&T by 166.7% in the 1st quarter. First Pacific Financial now owns 1,600 shares of the technology company’s stock valued at $28,000 after purchasing an additional 1,000 shares in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

About AT&T

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.