AT&T (NYSE:T) Hits New 52-Week High at $21.99

AT&T Inc. (NYSE:T)’s stock price reached a new 52-week high on Monday . The company traded as high as $21.99 and last traded at $21.99, with a volume of 4353482 shares traded. The stock had previously closed at $21.64.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on T shares. TD Cowen upped their price target on AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Scotiabank cut AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. The Goldman Sachs Group assumed coverage on AT&T in a research note on Monday, July 1st. They set a “buy” rating and a $22.00 price target for the company. Royal Bank of Canada increased their target price on AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. Finally, UBS Group reaffirmed a “buy” rating and set a $24.00 price objective on shares of AT&T in a research note on Tuesday, June 18th. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.31.

AT&T Trading Up 2.1 %

The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. The stock has a market capitalization of $158.46 billion, a price-to-earnings ratio of 11.88, a price-to-earnings-growth ratio of 3.68 and a beta of 0.59. The business has a fifty day moving average of $19.59 and a 200-day moving average of $18.19.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.57. The firm had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The firm’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.63 earnings per share. On average, equities analysts anticipate that AT&T Inc. will post 2.2 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were given a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 5.02%. The ex-dividend date of this dividend was Wednesday, July 10th. AT&T’s payout ratio is currently 59.68%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of T. Cantor Fitzgerald Investment Advisors L.P. bought a new stake in AT&T during the fourth quarter valued at about $11,554,000. Clearbridge Investments LLC grew its holdings in 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 during the last quarter. Skopos Labs Inc. bought a new position in AT&T in the 4th quarter worth approximately $839,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of AT&T by 4.3% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 1,037,529 shares of the technology company’s stock worth $19,827,000 after buying an additional 43,062 shares during the last quarter. Finally, M&G Plc acquired a new position in shares of AT&T during the first quarter worth approximately $9,074,000. Institutional investors own 57.10% of the company’s stock.

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.