AT&T (NYSE:T) Sets New 52-Week High – Here’s What Happened

AT&T Inc. (NYSE:T) shares reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $22.60 and last traded at $22.60, with a volume of 181166 shares traded. The stock had previously closed at $22.54.

Analysts Set New Price Targets

Several equities research analysts have weighed in on T shares. Barclays increased their price target on shares of AT&T from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. TD Cowen increased their price target on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Moffett Nathanson lifted their price objective on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Daiwa America raised AT&T to a “hold” rating in a report on Friday, July 26th. Finally, Citigroup boosted their price target on AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $23.40.

AT&T Stock Down 0.2 %

The firm has a market cap of $161.44 billion, a P/E ratio of 18.31, a price-to-earnings-growth ratio of 3.31 and a beta of 0.60. The company’s 50-day simple moving average is $21.42 and its 200 day simple moving average is $19.27. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67.

AT&T (NYSE:T) last announced its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The firm had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. During the same quarter in the previous year, the business earned $0.64 EPS. The company’s quarterly revenue was down .5% on a year-over-year basis. Research analysts anticipate that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.93%. The ex-dividend date is Thursday, October 10th. AT&T’s dividend payout ratio is currently 90.24%.

Hedge Funds Weigh In On AT&T

Institutional investors have recently modified their holdings of the stock. Strategic Financial Concepts LLC lifted its stake in AT&T by 227.6% in the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after acquiring an additional 91,578 shares during the period. Riggs Asset Managment Co. Inc. lifted its position in shares of AT&T by 356.5% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after purchasing an additional 1,116 shares during the period. American Capital Advisory LLC lifted its position in shares of AT&T by 107.5% in the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after purchasing an additional 807 shares during the period. Altshuler Shaham Ltd bought a new position in shares of AT&T during the second quarter valued at approximately $30,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in AT&T by 176.6% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock worth $35,000 after buying an additional 1,192 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Company Profile

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.