AT&T (NYSE:T) Stock Jumps 2.4% – What’s Next?

Shares of AT&T Inc. (NYSE:T) traded up 2.4% during trading on Wednesday. The stock traded as high as $22.13 and last traded at $21.8950. 47,441,598 shares were traded during mid-day trading, a decline of 3% from the average daily volume of 48,887,117 shares. The stock had previously closed at $21.39.

Wall Street Analysts Forecast Growth

T has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of AT&T from $32.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, October 27th. Arete Research cut their price target on shares of AT&T from $28.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, October 1st. KeyCorp reduced their price objective on AT&T from $36.00 to $33.00 and set an “overweight” rating on the stock in a report on Thursday, October 22nd. Moffett Nathanson cut their price target on AT&T from $24.00 to $23.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 22nd. Finally, Wolfe Research raised shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $29.00 price target on the stock in a research report on Thursday, July 23rd. Twelve investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, AT&T presently has an average rating of “Hold” and a consensus target price of $27.56.

AT&T Stock Up 2.4%

The firm has a 50 day simple moving average of $24.20 and a 200-day simple moving average of $24.94. The company has a quick ratio of 0.82, a current ratio of 0.87 and a debt-to-equity ratio of 1.22. The stock has a market cap of $147.50 billion, a P/E ratio of 11.84, a price-to-earnings-growth ratio of 1.06 and a beta of 0.30.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, October 21st. The technology company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.05. The company had revenue of $32.32 billion during the quarter, compared to analysts’ expectations of $31.69 billion. AT&T had a return on equity of 13.41% and a net margin of 10.19%. The business’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.54 earnings per share. On average, equities research analysts forecast that AT&T Inc. will post 2.39 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 2nd. Stockholders of record on Monday, October 12th were given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date was Friday, October 9th. AT&T’s payout ratio is presently 60.00%.

Institutional Investors Weigh In On AT&T

Several institutional investors and hedge funds have recently bought and sold shares of T. Hibernia Wealth Partners LLC increased its stake in shares of AT&T by 4.5% in the 1st quarter. Hibernia Wealth Partners LLC now owns 9,105 shares of the technology company’s stock valued at $264,000 after purchasing an additional 392 shares during the last quarter. M.E. Allison & CO. Inc. lifted its holdings in shares of AT&T by 0.5% during the second quarter. M.E. Allison & CO. Inc. now owns 76,978 shares of the technology company’s stock worth $1,593,000 after purchasing an additional 397 shares during the period. Accredited Investors Inc. increased its stake in shares of AT&T by 3.5% in the first quarter. Accredited Investors Inc. now owns 11,901 shares of the technology company’s stock valued at $345,000 after buying an additional 400 shares during the period. Nicholas Hoffman & Company LLC. raised its holdings in AT&T by 0.4% during the 1st quarter. Nicholas Hoffman & Company LLC. now owns 97,209 shares of the technology company’s stock worth $2,818,000 after purchasing an additional 402 shares during the last quarter. Finally, Welch & Forbes LLC lifted its holdings in AT&T by 0.3% in the first quarter. Welch & Forbes LLC now owns 133,287 shares of the technology company’s stock valued at $3,864,000 after buying an additional 432 shares during the period. Institutional investors own 57.10% of the company’s stock.

About AT&T

AT&T Inc (NYSE: T) is a telecommunications company that provides wireless communications, broadband, and related connectivity services. Its offerings include mobile voice and data plans, internet access, fiber broadband, fixed wireless services, and business communications solutions.

The company serves consumers, businesses, government agencies, and other organizations primarily in the United States. AT&T’s business operations include wireless network services, wireline connectivity, fiber-optic internet, voice services, and networking solutions designed to connect locations, devices, and applications.

AT&T traces its history to the Bell System and has operated under its current corporate name since 2005, following the acquisition of AT&T Corp.