AT&T (NYSE:T) Shares Up 1.6% – Here’s What Happened

AT&T Inc. (NYSE:T)’s share price was up 1.6% on Friday . The stock traded as high as $26.18 and last traded at $25.94. Approximately 58,740,782 shares were traded during trading, an increase of 47% from the average daily volume of 40,059,941 shares. The stock had previously closed at $25.52.

Wall Street Analyst Weigh In

T has been the topic of a number of research reports. Barclays cut their price objective on AT&T from $30.00 to $28.00 and set an “equal weight” rating on the stock in a report on Thursday, October 23rd. TD Cowen increased their price target on shares of AT&T from $32.00 to $33.00 and gave the stock a “hold” rating in a report on Thursday, October 23rd. Sanford C. Bernstein raised their price target on shares of AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, September 4th. Wall Street Zen downgraded shares of AT&T from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Finally, KeyCorp upgraded shares of AT&T from a “sector weight” rating to an “overweight” rating and set a $30.00 price objective on the stock in a research note on Tuesday, November 11th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $30.64.

AT&T Price Performance

The company has a debt-to-equity ratio of 1.01, a current ratio of 1.01 and a quick ratio of 0.96. The stock has a fifty day simple moving average of $26.45 and a 200-day simple moving average of $27.50. The company has a market capitalization of $183.90 billion, a price-to-earnings ratio of 8.42, a P/E/G ratio of 2.16 and a beta of 0.40.

AT&T (NYSE:T) last posted its earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, meeting the consensus estimate of $0.54. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The firm had revenue of $30.71 billion during the quarter, compared to analyst estimates of $30.85 billion. During the same period in the previous year, the firm earned $0.60 EPS. The business’s quarterly revenue was up 1.7% on a year-over-year basis. On average, equities research analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Friday, October 10th were paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend was Friday, October 10th. AT&T’s dividend payout ratio is presently 36.04%.

Hedge Funds Weigh In On AT&T

Institutional investors and hedge funds have recently modified their holdings of the business. Denali Advisors LLC grew its stake in shares of AT&T by 5.9% in the 2nd quarter. Denali Advisors LLC now owns 401,037 shares of the technology company’s stock valued at $11,606,000 after buying an additional 22,394 shares during the period. Tredje AP fonden lifted its holdings in AT&T by 1.8% in the second quarter. Tredje AP fonden now owns 1,221,395 shares of the technology company’s stock valued at $35,347,000 after acquiring an additional 21,720 shares during the last quarter. CHURCHILL MANAGEMENT Corp grew its position in AT&T by 1.5% in the second quarter. CHURCHILL MANAGEMENT Corp now owns 324,104 shares of the technology company’s stock worth $9,380,000 after acquiring an additional 4,793 shares during the period. Kickstand Ventures LLC. purchased a new position in AT&T in the second quarter worth approximately $489,000. Finally, Sentry Investment Management LLC increased its stake in AT&T by 153.2% during the second quarter. Sentry Investment Management LLC now owns 22,095 shares of the technology company’s stock worth $625,000 after acquiring an additional 13,370 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.