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

AT&T Inc. (NYSE:T) shot up 0.4% 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 were traded during mid-day 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 recently commented on T. DZ Bank raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a report on Wednesday, January 29th. Citigroup lifted their price target on AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. The Goldman Sachs Group raised their price objective on shares of AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. UBS Group raised their price target on shares of AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, Scotiabank raised their price objective 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. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, AT&T has an average rating of “Moderate Buy” and an average target price of $26.21.

Institutional Investors Weigh In On AT&T

Hedge funds have recently made changes to their positions in the business. Legacy Investment Solutions LLC purchased a new position in shares of AT&T in the third quarter valued at $25,000. Marshall Investment Management LLC acquired a new position in AT&T in the fourth quarter valued at approximately $28,000. Ritter Daniher Financial Advisory LLC DE lifted its holdings in shares of AT&T by 169.2% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after purchasing an additional 841 shares during the last quarter. YANKCOM Partnership acquired a new position in AT&T during the 4th quarter valued at approximately $30,000. Finally, Tradewinds Capital Management LLC grew its stake in AT&T by 48.6% during the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock worth $30,000 after buying an additional 430 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Price Performance

The company 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. 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 business has a 50 day simple moving average of $22.92 and a 200-day simple moving average of $21.66.

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

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.56%. The ex-dividend date of this dividend was Friday, January 10th. AT&T’s payout ratio is currently 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.