AT&T (NYSE:T) Sets New 52-Week High on Analyst Upgrade

Shares of AT&T Inc. (NYSE:T) hit a new 52-week high during mid-day trading on Wednesday after Oppenheimer raised their price target on the stock from $27.00 to $32.00. Oppenheimer currently has an outperform rating on the stock. AT&T traded as high as $28.61 and last traded at $28.49, with a volume of 43976615 shares traded. The stock had previously closed at $28.28.

Several other equities research analysts also recently weighed in on the company. Royal Bank of Canada increased their price target on AT&T from $27.00 to $28.00 and gave the stock an “outperform” rating in a report on Wednesday, March 19th. UBS Group increased their price target on shares of AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Argus raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Thursday, January 16th. Sanford C. Bernstein increased their price target on AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Finally, The Goldman Sachs Group lifted their price objective on shares of AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, AT&T presently has an average rating of “Moderate Buy” and an average target price of $27.21.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Capital A Wealth Management LLC acquired a new position in shares of AT&T during the 4th quarter worth about $25,000. Minot DeBlois Advisors LLC acquired a new position in AT&T during the fourth quarter worth $25,000. Legacy Investment Solutions LLC purchased a new stake in shares of AT&T in the third quarter valued at about $25,000. Putney Financial Group LLC purchased a new stake in shares of AT&T in the 4th quarter valued at approximately $27,000. Finally, Marshall Investment Management LLC acquired a new stake in AT&T during the fourth quarter worth $28,000. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Up 1.6 %

The business has a 50-day moving average of $26.18 and a 200-day moving average of $23.70. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. The stock has a market capitalization of $205.20 billion, a price-to-earnings ratio of 19.19, a P/E/G ratio of 3.00 and a beta of 0.56.

AT&T (NYSE:T) last posted its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates 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, sell-side analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be paid a dividend of $0.2775 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.88%. AT&T’s payout ratio is 74.50%.

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.