AT&T (NYSE:T) Reaches New 52-Week High - Here's Why

AT&T Inc. (NYSE:T - Get Free Report) hit a new 52-week high during trading on Thursday . The stock traded as high as $28.09 and last traded at $28.07, with a volume of 5539062 shares traded. The stock had previously closed at $27.65.

Wall Street Analysts Forecast Growth

T has been the subject of a number of research analyst reports. Argus upgraded shares of AT&T from a "hold" rating to a "buy" rating and set a $27.00 price target for the company in a report on Thursday, January 16th. Oppenheimer started coverage on shares of AT&T in a report on Tuesday, December 10th. They issued an "outperform" rating and a $28.00 target price for the company. Tigress Financial boosted their price target on AT&T from $30.00 to $32.00 and gave the stock a "buy" rating in a research note on Tuesday, February 4th. DZ Bank upgraded AT&T from a "hold" rating to a "buy" rating and set a $27.00 price target on the stock in a report on Wednesday, January 29th. Finally, Morgan Stanley raised AT&T from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $19.00 to $28.00 in a report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $26.79.

AT&T Trading Down 0.0 %

The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $202.40 billion, a price-to-earnings ratio of 18.92, a price-to-earnings-growth ratio of 3.00 and a beta of 0.56. The business has a 50 day simple moving average of $25.70 and a 200-day simple moving average of $23.53.

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AT&T (NYSE:T - Get Free Report) 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 net margin of 8.95% and a return on equity of 13.97%. On average, equities analysts predict that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 3.94%. AT&T's dividend payout ratio (DPR) is presently 74.50%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Carolinas Wealth Consulting LLC grew its stake in shares of AT&T by 1.6% in 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 in the last quarter. Buska Wealth Management LLC boosted its holdings 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 acquiring an additional 412 shares during the period. 1620 Investment Advisors Inc. grew 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 acquiring an additional 421 shares in the last quarter. Tradewinds Capital Management LLC raised 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 lifted its position in shares of AT&T by 1.0% during 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 in the last quarter. Hedge funds and other institutional investors own 57.10% of the company's stock.

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.