AT&T (NYSE:T) Shares Up 0.6% on Analyst Upgrade

Shares of AT&T Inc. (NYSE:T) shot up 0.6% during mid-day trading on Wednesday 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 $27.89 and last traded at $27.48. 8,516,047 shares changed hands during trading, a decline of 80% from the average session volume of 41,952,195 shares. The stock had previously closed at $27.30.

A number of other equities analysts have also issued reports on the stock. Wells Fargo & Company boosted their target price on shares of AT&T from $27.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. TD Securities boosted their target price on shares of AT&T from $29.00 to $30.00 and gave the stock a “hold” rating in a research report on Thursday, April 24th. Morgan Stanley reissued an “overweight” rating and issued a $31.00 price target (up previously from $30.00) on shares of AT&T in a report on Thursday, April 24th. Barclays boosted their price target on shares of AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, April 25th. Finally, Royal Bank of Canada boosted their price target on shares of AT&T from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $28.71.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Norges Bank acquired a new stake in AT&T during the 4th quarter worth $1,858,418,000. GQG Partners LLC grew its holdings in AT&T by 37.3% during the 4th quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock worth $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 grew its holdings in 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 acquiring an additional 12,881,578 shares during the period. Northern Trust Corp grew its holdings in AT&T by 16.3% during the 4th quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company’s stock worth $1,779,438,000 after acquiring an additional 10,945,679 shares during the period. Finally, Assetmark Inc. grew its holdings in AT&T by 4,986.1% during the 4th quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company’s stock worth $225,741,000 after acquiring an additional 9,719,036 shares during the period. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Down 0.2 %

The business’s fifty day simple moving average is $27.04 and its 200 day simple moving average is $24.48. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The stock has a market cap of $198.53 billion, a price-to-earnings ratio of 18.56, a price-to-earnings-growth ratio of 3.00 and a beta of 0.42.

AT&T (NYSE:T) last released its earnings results on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The business had revenue of $30.63 billion for the quarter, compared to analyst estimates of $30.39 billion. AT&T had a return on equity of 13.97% and a net margin of 8.95%. AT&T’s revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.55 EPS. Equities analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.01%. AT&T’s dividend payout ratio is 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.