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

AT&T Inc. (NYSE:T) shares were up 1% on Monday . The stock traded as high as $17.04 and last traded at $17.02. Approximately 7,202,652 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 38,737,453 shares. The stock had previously closed at $16.85.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Wolfe Research upgraded AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a report on Tuesday, March 5th. Deutsche Bank Aktiengesellschaft increased their target price on shares of AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. TheStreet upgraded shares of AT&T from a “c” rating to a “b-” rating in a research note on Wednesday, January 24th. Oppenheimer upgraded shares of AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a report on Friday, January 19th. Finally, StockNews.com cut AT&T from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.81.

AT&T Stock Up 0.2 %

The stock’s fifty day simple moving average is $16.98 and its two-hundred day simple moving average is $16.69. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.63. The company has a market capitalization of $122.68 billion, a price-to-earnings ratio of 9.20, a PEG ratio of 3.32 and a beta of 0.57.

AT&T (NYSE:T) last issued its earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The firm had revenue of $30.03 billion for the quarter, compared to analysts’ expectations of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. AT&T’s revenue was down .4% on a year-over-year basis. During the same quarter last year, the company posted $0.60 earnings per share. On average, sell-side analysts predict that AT&T Inc. will post 2.24 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $1.11 annualized dividend and a dividend yield of 6.49%. AT&T’s dividend payout ratio is currently 59.68%.

Hedge Funds Weigh In On AT&T

Several hedge funds and other institutional investors have recently made changes to their positions in T. Richard C. Young & CO. LTD. grew its stake in shares of AT&T by 1.1% in the first quarter. Richard C. Young & CO. LTD. now owns 807,590 shares of the technology company’s stock worth $14,214,000 after purchasing an additional 8,690 shares in the last quarter. Bleakley Financial Group LLC raised its position in shares of AT&T by 7.2% during the 1st quarter. Bleakley Financial Group LLC now owns 257,045 shares of the technology company’s stock worth $4,524,000 after buying an additional 17,315 shares in the last quarter. Great Diamond Partners LLC boosted its holdings in shares of AT&T by 9.2% in the first quarter. Great Diamond Partners LLC now owns 17,268 shares of the technology company’s stock valued at $304,000 after acquiring an additional 1,457 shares in the last quarter. Focused Wealth Management Inc increased its stake in shares of AT&T by 2.2% during the first quarter. Focused Wealth Management Inc now owns 63,074 shares of the technology company’s stock valued at $1,110,000 after acquiring an additional 1,384 shares during the period. Finally, US Bancorp DE lifted its position in AT&T by 0.8% in the first quarter. US Bancorp DE now owns 2,261,311 shares of the technology company’s stock worth $39,799,000 after purchasing an additional 18,935 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

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.