AT&T (NYSE:T) Shares Up 1.4% – Here’s Why

AT&T Inc. (NYSE:T) shares traded up 1.4% during mid-day trading on Monday . The stock traded as high as $27.07 and last traded at $26.99. 12,637,616 shares traded hands during trading, a decline of 66% from the average session volume of 37,624,715 shares. The stock had previously closed at $26.62.

Wall Street Analysts Forecast Growth

T has been the subject of several research analyst reports. Barclays increased their price objective on shares of AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Citigroup lifted their price objective on shares of AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Scotiabank upped their target price on AT&T from $24.00 to $26.00 and gave the company a “sector outperform” rating in a research report on Tuesday, January 28th. Oppenheimer assumed coverage on AT&T in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 target price for the company. Finally, UBS Group boosted their price target on AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $26.33.

AT&T Stock Performance

The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The firm’s fifty day moving average is $23.50 and its 200 day moving average is $22.32. The company has a market cap of $191.84 billion, a PE ratio of 17.94, a price-to-earnings-growth ratio of 3.00 and a beta of 0.59.

AT&T (NYSE:T) last released its earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. As a group, research analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date of this dividend was Friday, January 10th. AT&T’s dividend payout ratio is presently 74.50%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC purchased a new stake in shares of AT&T during the third quarter worth $25,000. Minot DeBlois Advisors LLC acquired a new stake in AT&T in the 4th quarter valued at about $25,000. Putney Financial Group LLC purchased a new position in AT&T in the 4th quarter worth approximately $27,000. Marshall Investment Management LLC acquired a new position in shares of AT&T during the 4th quarter worth approximately $28,000. Finally, Ritter Daniher Financial Advisory LLC DE increased its holdings in shares of AT&T by 169.2% in the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after purchasing an additional 841 shares during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.