AT&T Inc. (NYSE:T – Get Free Report)’s share price traded up 0.4% during trading on Wednesday . The company traded as high as $16.96 and last traded at $16.96. 8,393,505 shares traded hands during trading, a decline of 78% from the average session volume of 38,994,352 shares. The stock had previously closed at $16.89.
Analyst Ratings Changes
A number of equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Royal Bank of Canada restated a “sector perform” rating and set a $17.00 target price on shares of AT&T in a report on Thursday, April 11th. JPMorgan Chase & Co. upgraded shares of AT&T from a “neutral” rating to an “overweight” rating and raised their target price for the company from $18.00 to $21.00 in a report on Thursday, February 1st. Oppenheimer raised shares of AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a research note on Friday, January 19th. Finally, Tigress Financial raised their price target on shares of AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, AT&T has an average rating of “Moderate Buy” and a consensus price target of $20.81.
Check Out Our Latest Report on AT&T
AT&T Trading Up 0.2 %
AT&T (NYSE:T – Get Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02. The business had revenue of $30.03 billion during the quarter, compared to analysts’ expectations of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The firm’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.60 EPS. Sell-side analysts forecast that AT&T Inc. will post 2.24 EPS for the current year.
AT&T Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were paid a $0.2775 dividend. The ex-dividend date was Tuesday, April 9th. This represents a $1.11 annualized dividend and a dividend yield of 6.58%. AT&T’s payout ratio is 59.68%.
Institutional Investors Weigh In On AT&T
A number of large investors have recently added to or reduced their stakes in T. Carmel Capital Partners LLC boosted its position in 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 worth $25,000 after purchasing an additional 1,625 shares during the period. Frank Rimerman Advisors LLC acquired a new position in shares of AT&T in the fourth quarter valued at $25,000. Pineridge Advisors LLC acquired a new position in shares of AT&T in the fourth quarter valued at $25,000. First Pacific Financial raised its stake in shares of AT&T by 166.7% in the first quarter. First Pacific Financial now owns 1,600 shares of the technology company’s stock valued at $28,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Lipe & Dalton acquired a new position in shares of AT&T in the third quarter valued at $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.
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