AT&T (NYSE:T) Shares Up 1.4% – Time to Buy?

AT&T Inc. (NYSE:T) shares were up 1.4% during trading on Wednesday. The company traded as high as $22.27 and last traded at $22.2370. 31,880,232 shares were traded during mid-day trading, a decline of 35% from the average session volume of 48,759,207 shares. The stock had previously closed at $21.94.

Key AT&T News

Here’s some of the latest news about T:

• Positive Sentiment: AT&T took part in a reported historic satellite call with AST SpaceMobile, highlighting the potential for satellite-enabled mobile service. The milestone supports the long-term opportunity, though it does not yet establish meaningful near-term revenue. Space Stocks Are Complex. York Sinks, AST and AT&T Make Historic Satellite Call
• Neutral Sentiment: Elon Musk’s comment that SpaceX could acquire a legacy telecom underscores the strategic value of spectrum owned by AT&T and peers. It is not an announced offer or transaction, so any benefit to AT&T is speculative. Musk Says SpaceX Could Acquire a Legacy Telco
• Negative Sentiment: AT&T and Verizon plan to retire some copper landlines, drawing concern from rural Texans about continued service. The transition could invite customer backlash or regulatory scrutiny if alternatives are inadequate. AT&T, Verizon Move to Retire Some Copper Landlines

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on T shares. Morgan Stanley cut their price target on AT&T from $28.00 to $25.00 and set an “overweight” rating on the stock in a research note on Thursday, October 22nd. Scotiabank lowered their price objective on AT&T from $27.50 to $26.50 and set a “sector perform” rating for the company in a research report on Friday, October 9th. Moffett Nathanson dropped their price objective on AT&T from $24.00 to $23.00 and set a “neutral” rating for the company in a report on Tuesday, September 22nd. Barclays dropped their price objective on AT&T from $24.00 to $21.00 and set an “equal weight” rating for the company in a report on Thursday, October 22nd. Finally, Sanford C. Bernstein downgraded shares of AT&T from an “outperform” rating to a “market perform” rating and set a $24.00 target price on the stock. in a research report on Tuesday, October 13th. Twelve equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, AT&T has an average rating of “Moderate Buy” and an average price target of $27.56.

AT&T Stock Down 0.1%

The business’s fifty day simple moving average is $23.65 and its 200 day simple moving average is $24.88. The stock has a market cap of $149.23 billion, a price-to-earnings ratio of 11.98, a price-to-earnings-growth ratio of 1.10 and a beta of 0.30. The company has a current ratio of 0.87, a quick ratio of 0.82 and a debt-to-equity ratio of 1.22.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, October 21st. The technology company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.05. AT&T had a return on equity of 13.41% and a net margin of 10.19%. The company had revenue of $32.32 billion for the quarter, compared to the consensus estimate of $31.69 billion. During the same quarter in the prior year, the business posted $0.54 EPS. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. Equities analysts forecast that AT&T Inc. will post 2.40 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 2nd. Shareholders of record on Monday, October 12th were paid a $0.2775 dividend. The ex-dividend date of this dividend was Friday, October 9th. This represents a $1.11 annualized dividend and a yield of 5.0%. AT&T’s dividend payout ratio is presently 60.00%.

Hedge Funds Weigh In On AT&T

Several institutional investors have recently modified their holdings of T. M.E. Allison & CO. Inc. raised its holdings in AT&T by 0.5% in 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. Bank & Trust Co grew its holdings in shares of AT&T by 0.9% in the 3rd quarter. Bank & Trust Co now owns 52,105 shares of the technology company’s stock valued at $1,271,000 after buying an additional 440 shares during the period. Cross Staff Investments Inc increased its position in shares of AT&T by 3.5% in the 3rd quarter. Cross Staff Investments Inc now owns 13,077 shares of the technology company’s stock valued at $319,000 after buying an additional 441 shares in the last quarter. Private Client Services LLC increased its position in shares of AT&T by 4.5% in the 3rd quarter. Private Client Services LLC now owns 10,247 shares of the technology company’s stock valued at $250,000 after buying an additional 443 shares in the last quarter. Finally, FAS Wealth Partners Inc. increased its position in shares of AT&T by 1.3% in the 1st quarter. FAS Wealth Partners Inc. now owns 34,273 shares of the technology company’s stock valued at $994,000 after buying an additional 446 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

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.