AT&T (NYSE:T) Sets New 52-Week High at $21.05

AT&T Inc. (NYSE:T) shares reached a new 52-week high on Monday . The stock traded as high as $21.05 and last traded at $20.99, with a volume of 2756071 shares traded. The stock had previously closed at $20.97.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on T. The Goldman Sachs Group assumed coverage on AT&T in a report on Monday, July 1st. They issued a “buy” rating and a $22.00 price target for the company. BNP Paribas upgraded AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 11th. UBS Group reissued a “buy” rating and set a $24.00 price objective on shares of AT&T in a report on Tuesday, June 18th. Scotiabank downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, JPMorgan Chase & Co. boosted their price target on shares of AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.06.

AT&T Stock Performance

The company has a market capitalization of $155.66 billion, a PE ratio of 11.67, a PEG ratio of 3.57 and a beta of 0.59. 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 business’s 50-day moving average is $19.42 and its 200-day moving average is $18.09.

AT&T (NYSE:T) last released its earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, hitting analysts’ consensus estimates of $0.57. The firm had revenue of $29.80 billion for the quarter, compared to analysts’ expectations of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The company’s quarterly revenue was down .3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.63 earnings per share. On average, research analysts anticipate that AT&T Inc. will post 2.2 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.11%. The ex-dividend date was Wednesday, July 10th. AT&T’s payout ratio is 59.68%.

Hedge Funds Weigh In On AT&T

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vantage Financial Partners LLC increased its position in AT&T by 25.5% during the fourth quarter. Vantage Financial Partners LLC now owns 38,207 shares of the technology company’s stock valued at $641,000 after acquiring an additional 7,762 shares during the last quarter. Gilbert & Cook Inc. increased its position in shares of AT&T by 4.1% during the 4th quarter. Gilbert & Cook Inc. now owns 31,130 shares of the technology company’s stock valued at $522,000 after purchasing an additional 1,212 shares during the last quarter. Aveo Capital Partners LLC increased its position in shares of AT&T by 4.5% during the 4th quarter. Aveo Capital Partners LLC now owns 27,770 shares of the technology company’s stock valued at $466,000 after purchasing an additional 1,194 shares during the last quarter. Gryphon Financial Partners LLC lifted its stake in shares of AT&T by 21.8% in the 4th quarter. Gryphon Financial Partners LLC now owns 27,253 shares of the technology company’s stock worth $477,000 after purchasing an additional 4,870 shares during the period. Finally, Cary Street Partners Investment Advisory LLC boosted its holdings in shares of AT&T by 15.3% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 41,194 shares of the technology company’s stock worth $691,000 after buying an additional 5,466 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Company Profile

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.