AT&T (NYSE:T) Trading Up 0%

AT&T Inc. (NYSE:T)’s share price rose 0% during mid-day trading on Wednesday . The stock traded as high as $21.74 and last traded at $21.60. Approximately 8,650,266 shares traded hands during trading, a decline of 76% from the average daily volume of 36,191,797 shares. The stock had previously closed at $21.59.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on T shares. Citigroup boosted their price objective on shares of AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. JPMorgan Chase & Co. upped their target price on shares of AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. TD Cowen upped their price target on shares of AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft upped their target price on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Finally, Daiwa America upgraded shares of AT&T to a “hold” rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $22.31.

AT&T Stock Performance

The business’s fifty day simple moving average is $19.99 and its 200-day simple moving average is $18.41. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. The firm has a market capitalization of $155.09 billion, a PE ratio of 11.61, a price-to-earnings-growth ratio of 3.66 and a beta of 0.59.

AT&T (NYSE:T) last posted its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.57. The firm had revenue of $29.80 billion during the quarter, compared to analyst estimates of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. AT&T’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period last year, the firm posted $0.63 earnings per share. As a group, equities research analysts expect that AT&T Inc. will post 2.2 EPS for the current year.

Institutional Trading of AT&T

Institutional investors and hedge funds have recently made changes to their positions in the business. Mercer Global Advisors Inc. ADV increased its stake in shares of AT&T by 1,379.0% during the second quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock valued at $270,581,000 after buying an additional 13,201,774 shares during the period. Kodai Capital Management LP acquired a new stake in shares of AT&T during the fourth quarter worth about $152,109,000. AQR Capital Management LLC lifted its holdings in shares of AT&T by 43.3% during the second quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock worth $414,563,000 after purchasing an additional 6,602,586 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of AT&T by 7.4% during the second quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock worth $1,549,375,000 after purchasing an additional 5,592,123 shares during the period. Finally, Point72 Asset Management L.P. lifted its holdings in AT&T by 120.8% in the fourth quarter. Point72 Asset Management L.P. now owns 9,086,854 shares of the technology company’s stock valued at $152,477,000 after acquiring an additional 4,970,954 shares during the period. 57.10% of the stock is currently owned by institutional investors.

About AT&T

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.