AT&T (NYSE:T) Shares Up 1.1% - What's Next?

AT&T Inc. (NYSE:T - Get Free Report) shares shot up 1.1% during trading on Monday . The stock traded as high as $23.20 and last traded at $22.93. 7,894,861 shares were traded during trading, a decline of 78% from the average session volume of 35,390,961 shares. The stock had previously closed at $22.68.

Analysts Set New Price Targets

T has been the topic of several analyst reports. Wells Fargo & Company lowered their target price on AT&T from $25.00 to $24.00 and set an "overweight" rating on the stock in a research note on Thursday, October 24th. Evercore ISI raised their target price on shares of AT&T from $19.00 to $21.00 and gave the company an "in-line" rating in a report on Thursday, October 24th. TD Cowen boosted their price target on AT&T from $21.00 to $23.00 and gave the stock a "hold" rating in a report on Thursday, July 25th. Redburn Atlantic upgraded shares of AT&T to a "strong sell" rating in a research report on Monday, September 16th. Finally, Moffett Nathanson upped their price objective on shares of AT&T from $17.00 to $18.00 and gave the company a "neutral" rating in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $23.40.

AT&T Trading Up 1.4 %

The company has a 50 day simple moving average of $21.89 and a two-hundred day simple moving average of $19.75. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The company has a market cap of $165.03 billion, a PE ratio of 18.64, a PEG ratio of 3.40 and a beta of 0.59.

AT&T (NYSE:T - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.57 by $0.03. The firm had revenue of $30.20 billion during the quarter, compared to analysts' expectations of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company's revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.64 earnings per share. Sell-side analysts forecast that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were paid a dividend of $0.2775 per share. The ex-dividend date was Thursday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.83%. AT&T's payout ratio is 90.24%.

Hedge Funds Weigh In On AT&T

Several institutional investors have recently bought and sold shares of T. Patten & Patten Inc. TN raised its holdings in AT&T by 14.9% in the first quarter. Patten & Patten Inc. TN now owns 16,315 shares of the technology company's stock worth $287,000 after purchasing an additional 2,116 shares during the period. Covestor Ltd lifted its position in AT&T by 30.3% during the 1st quarter. Covestor Ltd now owns 2,678 shares of the technology company's stock worth $48,000 after buying an additional 622 shares in the last quarter. Bahl & Gaynor Inc. grew its holdings in shares of AT&T by 13.5% in the 1st quarter. Bahl & Gaynor Inc. now owns 40,623 shares of the technology company's stock valued at $715,000 after acquiring an additional 4,841 shares in the last quarter. O Shaughnessy Asset Management LLC increased its position in shares of AT&T by 36.8% in the first quarter. O Shaughnessy Asset Management LLC now owns 698,491 shares of the technology company's stock valued at $12,293,000 after acquiring an additional 187,829 shares during the last quarter. Finally, Thornburg Investment Management Inc. raised its holdings in AT&T by 8.6% during the first quarter. Thornburg Investment Management Inc. now owns 20,476,671 shares of the technology company's stock worth $360,389,000 after acquiring an additional 1,616,598 shares in 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.

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