AT&T (NYSE:T) Shares Up 0.5% on Analyst Upgrade

AT&T Inc. (NYSE:T) shares were up 0.5% during trading on Tuesday after Tigress Financial raised their price target on the stock from $32.00 to $34.00. Tigress Financial currently has a buy rating on the stock. AT&T traded as high as $27.39 and last traded at $27.41. Approximately 5,020,527 shares traded hands during trading, a decline of 86% from the average daily volume of 36,333,048 shares. The stock had previously closed at $27.26.

T has been the subject of several other research reports. Citigroup reaffirmed a “buy” rating on shares of AT&T in a research note on Monday, April 7th. Barclays increased their price target on AT&T from $27.00 to $30.00 and gave the stock an “overweight” rating in a report on Friday, April 25th. Argus upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Thursday, January 16th. Scotiabank reissued an “outperform” rating on shares of AT&T in a research note on Thursday, April 24th. Finally, Oppenheimer lifted their price target on shares of AT&T from $27.00 to $32.00 and gave the company an “outperform” rating in a research note on Tuesday, April 1st. One analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and an average target price of $28.71.

Institutional Investors Weigh In On AT&T

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in AT&T during the fourth quarter worth about $1,858,418,000. GQG Partners LLC grew its position in shares of AT&T by 37.3% during the 4th quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock valued at $2,203,667,000 after acquiring an additional 26,280,866 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of AT&T by 31.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company’s stock worth $1,216,665,000 after purchasing an additional 12,881,578 shares during the last quarter. Northern Trust Corp raised its holdings in shares of AT&T by 16.3% in the 4th quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company’s stock worth $1,779,438,000 after purchasing an additional 10,945,679 shares during the period. Finally, Assetmark Inc. lifted its stake in AT&T by 4,986.1% in the fourth quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company’s stock valued at $225,741,000 after purchasing an additional 9,719,036 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 0.1 %

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 firm has a fifty day simple moving average of $27.00 and a two-hundred day simple moving average of $24.41. The firm has a market capitalization of $195.89 billion, a P/E ratio of 18.32, a price-to-earnings-growth ratio of 3.00 and a beta of 0.42.

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

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be given a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.07%. The ex-dividend date is Thursday, April 10th. AT&T’s dividend payout ratio (DPR) is currently 68.10%.

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.