AT&T (NYSE:T) Reaches New 1-Year High – Here’s Why

AT&T Inc. (NYSE:T)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $26.75 and last traded at $26.91, with a volume of 2031383 shares trading hands. The stock had previously closed at $26.62.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. New Street Research upgraded shares of AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 3rd. Scotiabank increased their target price on AT&T from $24.00 to $26.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, January 28th. Citigroup increased their target price on shares of AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. boosted their price objective on AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, Argus upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.33.

AT&T Price Performance

The firm has a 50 day simple moving average of $23.50 and a 200-day simple moving average of $22.32. 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 market cap of $194.08 billion, a PE ratio of 18.15, a price-to-earnings-growth ratio of 3.00 and a beta of 0.59.

AT&T (NYSE:T) last issued its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. As a group, research analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date of this dividend was Friday, January 10th. AT&T’s dividend payout ratio (DPR) is presently 74.50%.

Institutional Trading of AT&T

A number of institutional investors and hedge funds have recently modified their holdings of the stock. AMF Tjanstepension AB grew 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 acquiring an additional 1,161,152 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of AT&T by 1.3% in the third quarter. Assenagon Asset Management S.A. now owns 310,190 shares of the technology company’s stock valued at $6,824,000 after purchasing an additional 3,972 shares during the period. Mediolanum International Funds Ltd increased its position in AT&T by 7.1% during the third quarter. Mediolanum International Funds Ltd now owns 53,976 shares of the technology company’s stock worth $1,180,000 after purchasing an additional 3,561 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in AT&T by 22.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 476,079 shares of the technology company’s stock worth $10,393,000 after purchasing an additional 85,699 shares during the period. Finally, NorthCrest Asset Manangement LLC boosted its holdings in AT&T by 44.7% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 74,752 shares of the technology company’s stock valued at $1,645,000 after purchasing an additional 23,098 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

About AT&T

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.