AT&T (NYSE:T) Trading Up 0.4% Following Analyst Upgrade

AT&T Inc. (NYSE:T)’s share price rose 0.4% on Tuesday after Tigress Financial raised their price target on the stock from $30.00 to $32.00. Tigress Financial currently has a buy rating on the stock. AT&T traded as high as $24.33 and last traded at $24.35. Approximately 6,756,796 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 38,818,258 shares. The stock had previously closed at $24.25.

A number of other equities analysts also recently weighed in on T. Morgan Stanley raised shares of AT&T from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $19.00 to $28.00 in a research note on Monday, December 16th. Oppenheimer started coverage on AT&T in a research note on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price target for the company. The Goldman Sachs Group boosted their price target on AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Scotiabank raised their price objective on shares of AT&T from $24.00 to $26.00 and gave the company a “sector outperform” rating in a research report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. boosted their target price on shares of AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $26.21.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Legacy Investment Solutions LLC acquired a new stake in AT&T during the third quarter worth $25,000. Marshall Investment Management LLC bought a new position in shares of AT&T during the 4th quarter worth about $28,000. Ritter Daniher Financial Advisory LLC DE boosted its position in shares of AT&T by 169.2% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after acquiring an additional 841 shares in the last quarter. YANKCOM Partnership bought a new stake in AT&T in the fourth quarter valued at about $30,000. Finally, Tradewinds Capital Management LLC raised its position in AT&T by 48.6% in the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock worth $30,000 after purchasing an additional 430 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Trading Up 0.0 %

The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The business’s 50 day simple moving average is $22.94 and its 200 day simple moving average is $21.70. The stock has a market cap of $174.05 billion, a P/E ratio of 16.28, a PEG ratio of 2.71 and a beta of 0.59.

AT&T (NYSE:T) last posted its earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. On average, analysts expect that AT&T Inc. will post 2.15 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.58%. The ex-dividend date of this dividend was Friday, January 10th. AT&T’s payout ratio is 74.50%.

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.