AT&T (NYSE:T) Stock Price Up 0% After Analyst Upgrade

AT&T Inc. (NYSE:T)’s stock price traded up 0% during trading on Wednesday 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 $28.59 and last traded at $28.49. 11,656,657 shares were traded during trading, a decline of 68% from the average session volume of 36,197,019 shares. The stock had previously closed at $28.48.

Several other research firms also recently weighed in on T. Morgan Stanley raised shares of AT&T from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $19.00 to $28.00 in a research report on Monday, December 16th. BNP Paribas upgraded shares of AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price objective on the stock in a research report on Thursday, February 13th. JPMorgan Chase & Co. boosted their target price on shares of AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Royal Bank of Canada raised their target price on AT&T from $27.00 to $28.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 19th. Finally, Tigress Financial lifted their price target on AT&T from $30.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $27.21.

Hedge Funds Weigh In On AT&T

Several hedge funds have recently bought and sold shares of T. Carolinas Wealth Consulting LLC boosted its position in AT&T by 1.6% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company’s stock worth $550,000 after purchasing an additional 384 shares during the period. Buska Wealth Management LLC grew its stake in AT&T by 3.2% in the 4th quarter. Buska Wealth Management LLC now owns 13,391 shares of the technology company’s stock valued at $305,000 after buying an additional 412 shares during the last quarter. 1620 Investment Advisors Inc. raised its holdings in AT&T by 1.6% in the 4th quarter. 1620 Investment Advisors Inc. now owns 26,161 shares of the technology company’s stock worth $596,000 after acquiring an additional 421 shares during the period. Tradewinds Capital Management LLC lifted its position in AT&T by 48.6% during the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock worth $30,000 after acquiring an additional 430 shares during the last quarter. Finally, BNP Paribas boosted its holdings in AT&T by 1.0% during the fourth quarter. BNP Paribas now owns 41,716 shares of the technology company’s stock valued at $942,000 after acquiring an additional 430 shares during the period. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Trading Down 0.1 %

The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The company has a 50-day moving average price of $25.94 and a 200-day moving average price of $23.64. The company has a market capitalization of $204.33 billion, a price-to-earnings ratio of 19.10, a P/E/G ratio of 3.00 and a beta of 0.56.

AT&T (NYSE:T) last released its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. Research analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date is Thursday, April 10th. AT&T’s dividend payout ratio (DPR) is presently 74.50%.

About AT&T

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.