AT&T (NYSE:T) Shares Up 0.6% Following Analyst Upgrade

Shares of AT&T Inc. (NYSE:T) traded up 0.6% during mid-day trading on Tuesday 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 $28.49 and last traded at $28.45. 13,478,048 shares were traded during mid-day trading, a decline of 68% from the average session volume of 41,593,508 shares. The stock had previously closed at $28.28.

Other research analysts have also recently issued reports about the stock. Tigress Financial boosted their target price on shares of AT&T from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Scotiabank boosted their target price on AT&T from $26.00 to $28.50 and gave the company a “sector outperform” rating in a research note on Monday, March 3rd. DZ Bank upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research note on Wednesday, January 29th. Citigroup boosted their price objective on AT&T from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Monday. Finally, BNP Paribas upgraded shares of AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 target price for the company in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, AT&T presently has an average rating of “Moderate Buy” and an average target price of $27.21.

Hedge Funds Weigh In On AT&T

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

AT&T Trading Down 1.2 %

The company has a market capitalization of $201.92 billion, a PE ratio of 18.88, a P/E/G ratio of 3.00 and a beta of 0.56. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The firm’s 50 day moving average is $26.06 and its 200 day moving average is $23.67.

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

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date of this dividend is Thursday, April 10th. AT&T’s payout ratio is 74.50%.

AT&T Company Profile

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.