AT&T (NYSE:T) Trading 0.6% Higher – Here’s What Happened

Shares of AT&T Inc. (NYSE:T) shot up 0.6% on Friday . The stock traded as high as $27.50 and last traded at $27.49. 7,925,228 shares were traded during mid-day trading, a decline of 78% from the average session volume of 36,645,366 shares. The stock had previously closed at $27.33.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on T. JPMorgan Chase & Co. increased their price objective on AT&T from $28.00 to $31.00 and gave the company an “overweight” rating in a report on Thursday, April 24th. Cowen reissued a “hold” rating on shares of AT&T in a report on Thursday, April 24th. Tigress Financial increased their price objective on AT&T from $32.00 to $34.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Scotiabank reissued an “outperform” rating on shares of AT&T in a report on Thursday, April 24th. Finally, Barclays increased their price objective on AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, AT&T has an average rating of “Moderate Buy” and an average target price of $28.71.

AT&T Trading Up 1.4%

The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The business has a fifty day simple moving average of $27.18 and a 200 day simple moving average of $24.92. The company has a market cap of $199.43 billion, a price-to-earnings ratio of 18.60, a P/E/G ratio of 3.00 and a beta of 0.42.

AT&T (NYSE:T) last released its earnings results on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). AT&T had a net margin of 8.95% and a return on equity of 13.97%. The business had revenue of $30.63 billion during the quarter, compared to analyst estimates of $30.39 billion. During the same period last year, the business posted $0.55 EPS. AT&T’s revenue was up 2.0% compared to the same quarter last year. On average, equities analysts anticipate that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date was Thursday, April 10th. AT&T’s dividend payout ratio (DPR) is currently 68.10%.

Institutional Investors Weigh In On AT&T

Hedge funds and other institutional investors have recently bought and sold shares of the business. Minot DeBlois Advisors LLC acquired a new stake in AT&T in the fourth quarter valued at $25,000. Capital A Wealth Management LLC purchased a new position in shares of AT&T in the fourth quarter valued at $25,000. Stone House Investment Management LLC purchased a new position in shares of AT&T in the first quarter valued at $25,000. Putney Financial Group LLC purchased a new position in shares of AT&T in the fourth quarter valued at $27,000. Finally, Marshall Investment Management LLC purchased a new position in shares of AT&T in the fourth quarter valued at $28,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

About AT&T

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.