AT&T (NYSE:T) Stock Price Up 0.4% on Analyst Upgrade

AT&T Inc. (NYSE:T)’s stock price traded up 0.4% during trading on Tuesday after Tigress Financial raised their price target on the stock from $30.00 to $32.00. Tigress Financial currently has a buy rating on the stock. AT&T traded as high as $24.33 and last traded at $24.35. 6,756,796 shares changed hands during trading, a decline of 83% from the average session volume of 38,818,258 shares. The stock had previously closed at $24.25.

Several other equities research analysts have also weighed in on T. Oppenheimer started coverage on shares of AT&T in a report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 target price on the stock. Argus upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Thursday, January 16th. Royal Bank of Canada increased their price objective on shares of AT&T from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Evercore ISI boosted their price objective on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. Finally, The Goldman Sachs Group raised their price target on AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.21.

Institutional Investors Weigh In On AT&T

A number of institutional investors have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of AT&T in the 2nd quarter worth approximately $44,000. AMF Tjanstepension AB raised its stake in AT&T by 305.1% during the 3rd quarter. AMF Tjanstepension AB now owns 1,541,724 shares of the technology company’s stock valued at $33,918,000 after purchasing an additional 1,161,152 shares during the period. Czech National Bank lifted its holdings in AT&T by 6.9% in the 3rd quarter. Czech National Bank now owns 1,460,655 shares of the technology company’s stock worth $32,134,000 after purchasing an additional 94,312 shares in the last quarter. GAMMA Investing LLC boosted its stake in AT&T by 39.2% in the 3rd quarter. GAMMA Investing LLC now owns 131,975 shares of the technology company’s stock worth $2,903,000 after purchasing an additional 37,162 shares during the period. Finally, WealthBridge Capital Management LLC purchased a new position in shares of AT&T in the third quarter worth $218,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 0.5 %

The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The company has a fifty day moving average price of $22.92 and a 200-day moving average price of $21.66. The stock has a market capitalization of $174.85 billion, a P/E ratio of 16.35, a PEG ratio of 2.71 and a beta of 0.59.

AT&T (NYSE:T) last released its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. As a group, research analysts forecast that AT&T Inc. will post 2.15 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were given a dividend of $0.2775 per share. The ex-dividend date was Friday, January 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.56%. AT&T’s dividend payout ratio (DPR) is 74.50%.

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.