AT&T (NYSE:T) Trading 0.9% Higher – What’s Next?

AT&T Inc. (NYSE:T) traded up 0.9% during mid-day trading on Wednesday . The stock traded as high as $21.76 and last traded at $21.71. 4,018,139 shares were traded during mid-day trading, a decline of 89% from the average session volume of 35,531,254 shares. The stock had previously closed at $21.51.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Moffett Nathanson lifted their target price on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a research report on Monday, September 16th. Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. TD Cowen lifted their target price on shares of AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Finally, The Goldman Sachs Group began coverage on shares of AT&T in a research report on Monday, July 1st. They set a “buy” rating and a $22.00 target price on the stock. One analyst has rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.69.

AT&T Stock Performance

The stock has a market cap of $156.67 billion, a price-to-earnings ratio of 11.71, a PEG ratio of 3.63 and a beta of 0.60. The stock’s fifty day moving average is $20.90 and its 200-day moving average is $18.93. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.57. The firm had revenue of $29.80 billion during the quarter, compared to analysts’ expectations of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The business’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.63 earnings per share. On average, analysts forecast that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.08%. The ex-dividend date is Thursday, October 10th. AT&T’s dividend payout ratio is presently 59.68%.

Institutional Trading of AT&T

A number of institutional investors have recently made changes to their positions in the business. Friedenthal Financial bought a new stake in shares of AT&T in the third quarter worth $777,000. Bartlett & CO. Wealth Management LLC raised its position in AT&T by 0.9% during the third quarter. Bartlett & CO. Wealth Management LLC now owns 110,601 shares of the technology company’s stock worth $2,433,000 after acquiring an additional 949 shares in the last quarter. Blue Trust Inc. raised its position in AT&T by 113.4% during the third quarter. Blue Trust Inc. now owns 83,736 shares of the technology company’s stock worth $1,842,000 after acquiring an additional 44,489 shares in the last quarter. Meridian Financial Partners LLC bought a new stake in AT&T during the third quarter worth $204,000. Finally, Moss Adams Wealth Advisors LLC raised its position in AT&T by 12.5% during the third quarter. Moss Adams Wealth Advisors LLC now owns 15,127 shares of the technology company’s stock worth $333,000 after acquiring an additional 1,678 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

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.