AT&T (NYSE:T) Trading 1% Higher

AT&T Inc. (NYSE:T) shares traded up 1% on Tuesday . The company traded as high as $20.23 and last traded at $20.10. 8,540,027 shares traded hands during trading, a decline of 76% from the average session volume of 35,329,305 shares. The stock had previously closed at $19.90.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. TD Cowen raised their price target on shares of AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. BNP Paribas raised shares of AT&T from an “underperform” rating to a “neutral” rating in a research report on Tuesday, June 11th. Daiwa America raised shares of AT&T to a “hold” rating in a research report on Friday, July 26th. The Goldman Sachs Group began coverage on shares of AT&T in a research report on Monday, July 1st. They issued a “buy” rating and a $22.00 price objective on the stock. Finally, Oppenheimer lifted their price objective on shares of AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.06.

AT&T Trading Up 0.4 %

The firm’s 50 day moving average is $19.23 and its 200 day moving average is $17.96. The company has a market cap of $148.10 billion, a PE ratio of 11.07, a PEG ratio of 3.36 and a beta of 0.59. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, hitting analysts’ consensus estimates of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The business had revenue of $29.80 billion during the quarter, compared to analysts’ expectations of $30.05 billion. During the same quarter in the previous year, the company earned $0.63 EPS. The business’s quarterly revenue was down .3% compared to the same quarter last year. On average, equities analysts anticipate that AT&T Inc. will post 2.22 earnings per share 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 issued 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 5.37%. AT&T’s payout ratio is 59.68%.

Institutional Investors Weigh In On AT&T

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Riggs Asset Managment Co. Inc. raised its holdings in AT&T by 356.5% in the 2nd 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 in the last quarter. Pineridge Advisors LLC bought a new position in AT&T in the 4th quarter worth $25,000. Frank Rimerman Advisors LLC bought a new position in AT&T in the 4th quarter worth $25,000. American Capital Advisory LLC raised its holdings in AT&T by 107.5% in the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after purchasing an additional 807 shares in the last quarter. Finally, Altshuler Shaham Ltd purchased a new stake in shares of AT&T in the 2nd quarter worth about $30,000. 57.10% of the stock is currently owned by institutional investors.

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.