AT&T (NYSE:T) Trading Up 0.8% – Here’s Why

AT&T Inc. (NYSE:T) was up 0.8% during trading on Wednesday . The stock traded as high as $22.35 and last traded at $22.33. Approximately 4,763,267 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 35,448,520 shares. The stock had previously closed at $22.15.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on T shares. Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $22.00 price target on shares of AT&T in a research note on Thursday, October 24th. Daiwa America raised shares of AT&T to a “hold” rating in a research note on Friday, July 26th. Tigress Financial upped their price target on shares of AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Finally, Wells Fargo & Company reduced their price target on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $23.40.

AT&T Stock Up 0.0 %

The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The firm has a market cap of $159.00 billion, a price-to-earnings ratio of 18.15, a PEG ratio of 3.33 and a beta of 0.59. The business’s 50-day moving average is $21.79 and its 200-day moving average is $19.63.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.03. The firm had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The company’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter last year, the company posted $0.64 EPS. On average, equities analysts predict that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 5.01%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Ritter Daniher Financial Advisory LLC DE boosted its stake in shares of AT&T by 169.2% in the 3rd 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. Riggs Asset Managment Co. Inc. boosted its stake 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 acquiring an additional 1,116 shares during the last quarter. American Capital Advisory LLC boosted its stake 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 acquiring an additional 807 shares during the last quarter. Reston Wealth Management LLC bought a new position in AT&T during the 3rd quarter worth approximately $35,000. Finally, Altshuler Shaham Ltd bought a new position in AT&T during the 2nd quarter worth approximately $30,000. Institutional investors own 57.10% of the company’s stock.

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.