AT&T (NYSE:T) Trading 2.1% Higher

AT&T Inc. (NYSE:T)’s stock price shot up 2.1% during mid-day trading on Monday . The company traded as high as $22.19 and last traded at $22.10. 10,442,544 shares were traded during trading, a decline of 71% from the average session volume of 35,960,500 shares. The stock had previously closed at $21.64.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on T. Deutsche Bank Aktiengesellschaft boosted their price objective on AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Evercore ISI boosted their price objective on AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a research report on Thursday, July 25th. Barclays boosted their price objective on AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. UBS Group restated a “buy” rating and set a $24.00 price objective on shares of AT&T in a research report on Tuesday, June 18th. Finally, JPMorgan Chase & Co. boosted their price objective on AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $22.31.

AT&T Stock Down 0.2 %

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 stock has a 50 day moving average price of $19.72 and a 200 day moving average price of $18.26. The company has a market cap of $155.84 billion, a P/E ratio of 11.68, a P/E/G ratio of 3.68 and a beta of 0.59.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, hitting analysts’ consensus estimates of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The company had revenue of $29.80 billion for the quarter, compared to the consensus estimate of $30.05 billion. During the same quarter in the previous year, the business earned $0.63 EPS. The company’s quarterly revenue was down .3% compared to the same quarter last year. Research analysts expect that AT&T Inc. will post 2.2 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.11%. The ex-dividend date of this dividend was Wednesday, July 10th. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Institutional Investors Weigh In On AT&T

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of AT&T during the second quarter worth $44,000. Heritage Wealth Management Inc. purchased a new position in shares of AT&T during the second quarter valued at $1,871,000. Sanctuary Advisors LLC purchased a new position in shares of AT&T during the second quarter valued at $18,285,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of AT&T during the second quarter valued at $232,000. Finally, New Wave Wealth Advisors LLC purchased a new position in shares of AT&T during the second quarter valued at $763,000. 57.10% of the stock is owned by institutional investors and hedge funds.

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.