AT&T (NYSE:T) Reaches New 12-Month High – What’s Next?

AT&T Inc. (NYSE:T) shares reached a new 52-week high on Monday . The stock traded as high as $23.30 and last traded at $23.10, with a volume of 363453 shares traded. The stock had previously closed at $23.18.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $22.00 target price on shares of AT&T in a research report on Thursday, October 24th. Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a report on Monday, September 16th. Moffett Nathanson upped their price target on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Wells Fargo & Company dropped their price objective on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Finally, Scotiabank downgraded AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.40.

AT&T Stock Down 0.0 %

The stock’s fifty day moving average price is $22.07 and its 200-day moving average price is $20.04. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $165.68 billion, a price-to-earnings ratio of 18.77, a P/E/G ratio of 3.47 and a beta of 0.59.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share 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 for the quarter, compared to the consensus estimate of $30.50 billion. During the same quarter in the previous year, the business earned $0.64 earnings per share. The business’s revenue was down .5% compared to the same quarter last year. On average, sell-side analysts predict that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.81%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

Hedge Funds Weigh In On AT&T

Large investors have recently bought and sold shares of the company. Tidal Investments LLC raised its position in AT&T by 1.7% during the 3rd quarter. Tidal Investments LLC now owns 640,725 shares of the technology company’s stock worth $14,096,000 after purchasing an additional 10,954 shares during the last quarter. Destination Wealth Management acquired a new position in shares of AT&T in the 3rd quarter worth approximately $240,000. Wilmington Savings Fund Society FSB boosted its stake in shares of AT&T by 386.1% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 266,565 shares of the technology company’s stock valued at $5,864,000 after purchasing an additional 211,723 shares during the last quarter. World Investment Advisors LLC increased its position in shares of AT&T by 28.4% during the third quarter. World Investment Advisors LLC now owns 174,118 shares of the technology company’s stock worth $3,831,000 after buying an additional 38,548 shares during the period. Finally, Sanctuary Advisors LLC increased its position in shares of AT&T by 15.1% during the third quarter. Sanctuary Advisors LLC now owns 1,100,943 shares of the technology company’s stock worth $25,520,000 after buying an additional 144,119 shares during the period. 57.10% of the stock is currently owned by 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.