AT&T (NYSE:T) Trading 2.1% Higher – What’s Next?

AT&T Inc. (NYSE:T) traded up 2.1% during trading on Wednesday . The stock traded as high as $22.09 and last traded at $21.96. 12,949,579 shares changed hands during trading, a decline of 63% from the average session volume of 35,458,547 shares. The stock had previously closed at $21.50.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Barclays boosted their price target on AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Scotiabank cut AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. JPMorgan Chase & Co. upped their target price on AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, The Goldman Sachs Group initiated coverage on AT&T in a research report on Monday, July 1st. They issued a “buy” rating and a $22.00 price target on the stock. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $22.69.

AT&T Price Performance

The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. The firm has a market cap of $160.47 billion, a PE ratio of 12.62, a price-to-earnings-growth ratio of 3.73 and a beta of 0.60. The stock has a 50 day simple moving average of $21.03 and a 200-day simple moving average of $19.04.

AT&T (NYSE:T) last issued its quarterly earnings data 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 return on equity of 14.16% and a net margin of 10.41%. The business’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter last year, the business posted $0.63 earnings per share. Equities analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be given a $0.2775 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.96%. AT&T’s dividend payout ratio is currently 63.79%.

Institutional Trading of AT&T

Several institutional investors have recently added to or reduced their stakes in the company. Hayek Kallen Investment Management boosted its stake in AT&T by 0.8% during the third quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company’s stock worth $1,326,000 after buying an additional 500 shares in the last quarter. Octavia Wealth Advisors LLC boosted its stake in AT&T by 2.1% during the second quarter. Octavia Wealth Advisors LLC now owns 25,313 shares of the technology company’s stock worth $484,000 after buying an additional 519 shares in the last quarter. Carolinas Wealth Consulting LLC boosted its stake in shares of AT&T by 2.3% in the 2nd quarter. Carolinas Wealth Consulting LLC now owns 23,650 shares of the technology company’s stock valued at $452,000 after purchasing an additional 521 shares in the last quarter. WealthCare Investment Partners LLC boosted its stake in shares of AT&T by 2.2% in the 2nd quarter. WealthCare Investment Partners LLC now owns 24,138 shares of the technology company’s stock valued at $461,000 after purchasing an additional 525 shares in the last quarter. Finally, Little House Capital LLC boosted its stake in shares of AT&T by 4.8% in the 3rd quarter. Little House Capital LLC now owns 11,619 shares of the technology company’s stock valued at $256,000 after purchasing an additional 537 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

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.