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

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on T. Wolfe Research upgraded AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a research note on Tuesday, March 5th. Citigroup raised their price target on AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Barclays raised AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 target price for the company in a report on Monday, April 29th. Royal Bank of Canada reissued a “sector perform” rating and issued a $17.00 target price on shares of AT&T in a report on Thursday, April 11th. Finally, Tigress Financial boosted their target price on AT&T from $28.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, AT&T presently has an average rating of “Moderate Buy” and a consensus price target of $20.81.

AT&T Stock Up 0.8 %

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 firm’s 50-day moving average price is $16.97 and its 200 day moving average price is $16.67. The firm has a market cap of $121.82 billion, a P/E ratio of 9.15, a PEG ratio of 3.32 and a beta of 0.57.

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

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were issued a $0.2775 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a yield of 6.53%. AT&T’s dividend payout ratio is currently 59.68%.

Institutional Investors Weigh In On AT&T

Hedge funds have recently made changes to their positions in the business. Carmel Capital Partners LLC increased its stake in shares of AT&T by 16,250.0% during the third quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock valued at $25,000 after acquiring an additional 1,625 shares during the period. Frank Rimerman Advisors LLC acquired a new position in shares of AT&T during the fourth quarter valued at approximately $25,000. Pineridge Advisors LLC acquired a new position in AT&T in the fourth quarter worth approximately $25,000. First Pacific Financial grew its position in AT&T by 166.7% in the first quarter. First Pacific Financial now owns 1,600 shares of the technology company’s stock worth $28,000 after buying an additional 1,000 shares during the last quarter. Finally, Lipe & Dalton acquired a new position in AT&T in the third quarter worth approximately $30,000. 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.