AT&T (NYSE:T) Shares Up 1.3% After Analyst Upgrade

Shares of AT&T Inc. (NYSE:T) traded up 1.3% during mid-day trading on Friday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $24.00 to $26.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. AT&T traded as high as $19.08 and last traded at $19.00. 10,447,687 shares were traded during mid-day trading, a decline of 71% from the average session volume of 36,555,313 shares. The stock had previously closed at $18.75.

Other analysts also recently issued reports about the stock. UBS Group reiterated a “buy” rating and issued a $24.00 price objective on shares of AT&T in a research report on Tuesday, June 18th. Oppenheimer reaffirmed an “outperform” rating and set a $21.00 price target on shares of AT&T in a report on Tuesday. Wolfe Research raised AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a report on Tuesday, March 5th. BNP Paribas raised AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 11th. Finally, Scotiabank increased their price target on AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a research note on Thursday, April 25th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $21.71.

Hedge Funds Weigh In On AT&T

Several large investors have recently made changes to their positions in T. Texas Capital Bank Wealth Management Services Inc raised its holdings in shares of AT&T by 1.7% in the fourth quarter. Texas Capital Bank Wealth Management Services Inc now owns 35,098 shares of the technology company’s stock valued at $589,000 after purchasing an additional 598 shares during the last quarter. Klingman & Associates LLC increased its stake in AT&T by 3.1% in the 1st quarter. Klingman & Associates LLC now owns 19,889 shares of the technology company’s stock valued at $350,000 after buying an additional 603 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA lifted its position in shares of AT&T by 35.3% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock worth $39,000 after buying an additional 606 shares in the last quarter. JB Capital LLC boosted its stake in shares of AT&T by 2.4% in the 4th quarter. JB Capital LLC now owns 26,620 shares of the technology company’s stock worth $447,000 after buying an additional 614 shares during the last quarter. Finally, Fortitude Family Office LLC boosted its stake in shares of AT&T by 1.5% in the 1st quarter. Fortitude Family Office LLC now owns 41,595 shares of the technology company’s stock worth $732,000 after buying an additional 614 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 2.0 %

The stock has a 50-day moving average of $17.57 and a 200 day moving average of $17.17. The company has a market capitalization of $137.17 billion, a PE ratio of 10.28, a P/E/G ratio of 4.26 and a beta of 0.60. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The firm had revenue of $30.03 billion during the quarter, compared to the consensus estimate of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The business’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.60 EPS. Sell-side analysts anticipate that AT&T Inc. will post 2.24 EPS for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be given a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 5.80%. The ex-dividend date is Wednesday, July 10th. AT&T’s dividend payout ratio is 59.68%.

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.