AT&T (NYSE:T) Trading Up 1.1% – Here’s What Happened

AT&T Inc. (NYSE:T)’s stock price traded up 1.1% during trading on Thursday . The company traded as high as $25.63 and last traded at $25.5480. 42,826,157 shares traded hands during mid-day trading, an increase of 7% from the average session volume of 39,968,496 shares. The stock had previously closed at $25.27.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Wells Fargo & Company lowered their price target on shares of AT&T from $31.00 to $29.00 and set an “overweight” rating for the company in a research note on Thursday, October 16th. Hsbc Global Res lowered AT&T from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 24th. HSBC lowered AT&T from a “buy” rating to a “hold” rating and set a $30.00 price target on the stock. in a research report on Thursday, July 24th. Barclays lowered their price objective on AT&T from $30.00 to $28.00 and set an “equal weight” rating for the company in a research report on Thursday, October 23rd. Finally, KeyCorp upgraded shares of AT&T from a “sector weight” rating to an “overweight” rating and set a $30.00 target price on the stock in a report on Tuesday, November 11th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $30.64.

AT&T Price Performance

The company has a market cap of $181.12 billion, a PE ratio of 8.29, a PEG ratio of 2.16 and a beta of 0.40. The firm’s 50-day moving average is $26.53 and its 200-day moving average is $27.51. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, meeting the consensus estimate of $0.54. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The business had revenue of $30.71 billion for the quarter, compared to analysts’ expectations of $30.85 billion. During the same period in the previous year, the firm posted $0.60 EPS. The business’s revenue was up 1.7% on a year-over-year basis. On average, equities analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Friday, October 10th were issued a $0.2775 dividend. The ex-dividend date was Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.3%. AT&T’s dividend payout ratio is 36.04%.

Institutional Investors Weigh In On AT&T

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of AT&T by 1.6% during the second quarter. Vanguard Group Inc. now owns 661,355,210 shares of the technology company’s stock valued at $19,139,620,000 after acquiring an additional 10,310,560 shares in the last quarter. State Street Corp raised its holdings in AT&T by 0.8% in the third quarter. State Street Corp now owns 323,775,045 shares of the technology company’s stock worth $9,143,407,000 after buying an additional 2,704,536 shares during the last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in shares of AT&T during the second quarter valued at approximately $5,266,758,000. Geode Capital Management LLC grew its holdings in shares of AT&T by 1.2% during the second quarter. Geode Capital Management LLC now owns 172,039,872 shares of the technology company’s stock valued at $4,958,066,000 after buying an additional 2,066,026 shares during the last quarter. Finally, GQG Partners LLC increased its position in shares of AT&T by 17.7% during the first quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock valued at $3,222,711,000 after acquiring an additional 17,177,874 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Company Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.