AT&T (NYSE:T) Reaches New 52-Week High at $20.06

Shares of AT&T Inc. (NYSE:T) hit a new 52-week high on Tuesday . The stock traded as high as $20.06 and last traded at $20.03, with a volume of 1984109 shares. The stock had previously closed at $19.90.

Wall Street Analysts Forecast Growth

T has been the topic of several research reports. Royal Bank of Canada upped their price objective on AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a research note on Thursday, July 25th. BNP Paribas upgraded AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 11th. The Goldman Sachs Group started coverage on shares of AT&T in a research note on Monday, July 1st. They set a “buy” rating and a $22.00 target price for the company. UBS Group restated a “buy” rating and issued a $24.00 price target on shares of AT&T in a research report on Tuesday, June 18th. Finally, TD Cowen boosted their price objective on shares of AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $22.06.

AT&T Price Performance

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 company’s 50 day moving average price is $19.23 and its 200-day moving average price is $17.96. The company has a market cap of $147.56 billion, a price-to-earnings ratio of 11.06, a PEG ratio of 3.36 and a beta of 0.59.

AT&T (NYSE:T) last issued its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (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 business had revenue of $29.80 billion for the quarter, compared to analysts’ expectations of $30.05 billion. During the same period in the previous year, the firm posted $0.63 EPS. The company’s quarterly revenue was down .3% on a year-over-year basis. On average, equities research analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 5.39%. The ex-dividend date was Wednesday, July 10th. AT&T’s payout ratio is 59.68%.

Institutional Investors Weigh In On AT&T

A number of institutional investors have recently bought and sold shares of T. Frank Rimerman Advisors LLC purchased a new stake in shares of AT&T during the fourth quarter worth $25,000. Pineridge Advisors LLC acquired a new stake in shares of AT&T during the 4th quarter valued at about $25,000. Strategic Financial Concepts LLC grew its stake in shares of AT&T by 227.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after buying an additional 91,578 shares in the last quarter. Riggs Asset Managment Co. Inc. increased its holdings in AT&T by 356.5% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after buying an additional 1,116 shares during the last quarter. Finally, First Pacific Financial raised its position in AT&T by 166.7% during the first quarter. First Pacific Financial now owns 1,600 shares of the technology company’s stock valued at $28,000 after acquiring an additional 1,000 shares in the last quarter. 57.10% of the stock is currently 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.