AT&T (NYSE:T) Stock Price Up 0.6% on Analyst Upgrade

AT&T Inc. (NYSE:T)’s stock price was up 0.6% during mid-day trading on Monday after Oppenheimer raised their price target on the stock from $27.00 to $32.00. Oppenheimer currently has an outperform rating on the stock. AT&T traded as high as $28.56 and last traded at $28.36. Approximately 8,962,893 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 36,084,870 shares. The stock had previously closed at $28.18.

Several other equities analysts also recently issued reports on the company. Scotiabank lifted their price objective on AT&T from $26.00 to $28.50 and gave the company a “sector outperform” rating in a research report on Monday, March 3rd. Tigress Financial raised their target price on AT&T from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. 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. New Street Research raised shares of AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. Finally, DZ Bank raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, AT&T has an average rating of “Moderate Buy” and an average target price of $27.21.

Institutional Investors Weigh In On AT&T

Institutional investors have recently made changes to their positions in the stock. Capital A Wealth Management LLC acquired a new position in AT&T during the fourth quarter valued at approximately $25,000. Minot DeBlois Advisors LLC bought a new position in shares of AT&T during the fourth quarter worth $25,000. Legacy Investment Solutions LLC acquired a new position in shares of AT&T in the 3rd quarter valued at $25,000. Putney Financial Group LLC bought a new stake in shares of AT&T in the 4th quarter valued at $27,000. Finally, Marshall Investment Management LLC acquired a new stake in AT&T during the 4th quarter worth $28,000. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Price Performance

The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The firm has a market cap of $204.47 billion, a price-to-earnings ratio of 19.12, a P/E/G ratio of 3.00 and a beta of 0.56. The company has a 50 day moving average of $25.94 and a 200 day moving average of $23.64.

AT&T (NYSE:T) last released its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, beating 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%. Equities research analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 3.90%. The ex-dividend date is Thursday, April 10th. AT&T’s dividend payout ratio (DPR) is presently 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.