AT&T (NYSE:T) Hits New 1-Year High at $21.05

AT&T Inc. (NYSE:T)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $21.05 and last traded at $20.99, with a volume of 2756071 shares trading hands. The stock had previously closed at $20.97.

Wall Street Analyst Weigh In

Several analysts recently weighed in on T shares. JPMorgan Chase & Co. lifted their price objective on AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. TD Cowen upped their price objective on AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Daiwa America raised AT&T to a “hold” rating in a research report on Friday, July 26th. Royal Bank of Canada increased their target price on shares of AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. Finally, Barclays upped their price target on AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.06.

AT&T Stock Up 0.6 %

The business’s 50-day moving average is $19.31 and its 200-day moving average is $18.02. The company has a market capitalization of $151.29 billion, a price-to-earnings ratio of 11.27, a P/E/G ratio of 3.57 and a beta of 0.59. 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 issued its earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, hitting analysts’ consensus estimates of $0.57. The firm had revenue of $29.80 billion for the quarter, compared to the consensus estimate of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The company’s revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.63 earnings per share. As a group, equities analysts predict that AT&T Inc. will post 2.2 earnings per share for the current year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 5.26%. The ex-dividend date was Wednesday, July 10th. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Hedge Funds Weigh In On AT&T

Several institutional investors and hedge funds have recently modified their holdings of the business. Riggs Asset Managment Co. Inc. lifted its holdings in 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 valued at $27,000 after purchasing an additional 1,116 shares in the last quarter. Pineridge Advisors LLC acquired a new stake in AT&T in the 4th quarter worth about $25,000. Frank Rimerman Advisors LLC acquired a new stake in AT&T in the 4th quarter worth about $25,000. American Capital Advisory LLC increased its stake in AT&T by 107.5% during the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after buying an additional 807 shares in the last quarter. Finally, Altshuler Shaham Ltd acquired a new position in shares of AT&T during the second quarter valued at approximately $30,000. 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.