AT&T (NYSE:T) Trading Up 1.2% on Analyst Upgrade

Shares of AT&T Inc. (NYSE:T) were up 1.2% during trading on Tuesday after Wells Fargo & Company raised their price target on the stock from $22.00 to $25.00. Wells Fargo & Company currently has an overweight rating on the stock. AT&T traded as high as $21.60 and last traded at $21.52. Approximately 9,243,739 shares were traded during trading, a decline of 74% from the average daily volume of 35,555,449 shares. The stock had previously closed at $21.26.

T has been the topic of a number of other research reports. The Goldman Sachs Group began coverage on shares of AT&T in a research note on Monday, July 1st. They issued a “buy” rating and a $22.00 price target on the stock. Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a research report on Monday, September 16th. Royal Bank of Canada lifted their price objective on AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft increased their price objective on AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Finally, TD Cowen increased their target price on shares of AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and a consensus price target of $22.69.

Hedge Funds Weigh In On AT&T

Several hedge funds have recently made changes to their positions in T. Strategic Financial Concepts LLC grew its stake in shares of AT&T by 227.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after purchasing an additional 91,578 shares during the last quarter. Riggs Asset Managment Co. Inc. raised its position in AT&T by 356.5% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after buying an additional 1,116 shares during the last quarter. American Capital Advisory LLC raised its position in AT&T by 107.5% during the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after buying an additional 807 shares during the last quarter. Altshuler Shaham Ltd acquired a new stake in shares of AT&T in the 2nd quarter worth $30,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its holdings in shares of AT&T by 176.6% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock valued at $35,000 after acquiring an additional 1,192 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 1.2 %

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 firm has a market capitalization of $154.30 billion, a price-to-earnings ratio of 11.57, a price-to-earnings-growth ratio of 3.62 and a beta of 0.60. The business’s 50 day moving average price is $20.76 and its 200-day moving average price is $18.86.

AT&T (NYSE:T) last issued its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, hitting the consensus estimate of $0.57. The company 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 revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.63 earnings per share. Equities analysts forecast that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be paid a $0.2775 dividend. The ex-dividend date is Thursday, October 10th. This represents a $1.11 annualized dividend and a yield of 5.16%. AT&T’s payout ratio is currently 59.68%.

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.