AT&T (NYSE:T) Stock Price Up 1.4% – What’s Next?

Shares of AT&T Inc. (NYSE:T) shot up 1.4% during trading on Wednesday. The company traded as high as $22.27 and last traded at $22.2370. 31,880,232 shares were traded during trading, a decline of 35% from the average daily volume of 48,759,207 shares. The stock had previously closed at $21.94.

Analyst Ratings Changes

A number of analysts recently weighed in on T shares. Royal Bank Of Canada reduced their price objective on shares of AT&T from $31.00 to $27.00 and set an “outperform” rating on the stock in a research report on Monday, July 20th. Morgan Stanley dropped their target price on AT&T from $28.00 to $25.00 and set an “overweight” rating for the company in a research report on Thursday, October 22nd. Raymond James Financial dropped their target price on AT&T from $33.00 to $29.00 in a research report on Thursday, October 22nd. Scotiabank decreased their price target on AT&T from $27.50 to $26.50 and set a “sector perform” rating for the company in a research note on Friday, October 9th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of AT&T in a report on Friday, October 30th. Twelve research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $27.56.

AT&T Stock Up 1.4%

The company has a debt-to-equity ratio of 1.22, a current ratio of 0.87 and a quick ratio of 0.82. The stock has a market cap of $149.80 billion, a PE ratio of 12.02, a price-to-earnings-growth ratio of 1.08 and a beta of 0.30. The business has a fifty day moving average of $23.80 and a 200-day moving average of $24.90.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, October 21st. The technology company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.05. The company had revenue of $32.32 billion for the quarter, compared to analysts’ expectations of $31.69 billion. AT&T had a return on equity of 13.41% and a net margin of 10.19%. AT&T’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.54 earnings per share. Equities research analysts anticipate that AT&T Inc. will post 2.40 earnings per share for the current year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 2nd. Stockholders of record on Monday, October 12th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Friday, October 9th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.0%. AT&T’s dividend payout ratio is presently 60.00%.

Hedge Funds Weigh In On AT&T

Several institutional investors have recently made changes to their positions in the company. Mayflower Financial Advisors LLC boosted its position in AT&T by 0.9% during the third quarter. Mayflower Financial Advisors LLC now owns 79,956 shares of the technology company’s stock valued at $1,951,000 after purchasing an additional 674 shares in the last quarter. Advisors Asset Management Inc. purchased a new stake in shares of AT&T during the third quarter valued at about $19,371,000. Edmond DE Rothschild Holding S.A. boosted its holdings in shares of AT&T by 5.5% in the 3rd quarter. Edmond DE Rothschild Holding S.A. now owns 1,661,331 shares of the technology company’s stock valued at $40,536,000 after buying an additional 85,880 shares in the last quarter. GW&K Investment Management LLC boosted its holdings in shares of AT&T by 7.1% in the 3rd quarter. GW&K Investment Management LLC now owns 8,797 shares of the technology company’s stock valued at $215,000 after buying an additional 581 shares in the last quarter. Finally, Private Wealth Asset Management LLC boosted its holdings in shares of AT&T by 35.2% in the 3rd quarter. Private Wealth Asset Management LLC now owns 41,226 shares of the technology company’s stock valued at $1,006,000 after buying an additional 10,733 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

About AT&T

AT&T Inc. (NYSE: T) is a telecommunications company that provides wireless communications, broadband, and related connectivity services. Its offerings include mobile voice and data plans, internet access, fiber broadband, fixed wireless services, and business communications solutions. The company serves consumers, businesses, government agencies, and other organizations primarily in the United States. AT&T’s business operations include wireless network services, wireline connectivity, fiber-optic internet, voice services, and networking solutions designed to connect locations, devices, and applications.