AT&T (NYSE:T) Trading 1.1% Higher - Here's Why

AT&T Inc. (NYSE:T - Get Free Report)'s stock price was up 1.1% during mid-day trading on Friday . The company traded as high as $27.17 and last traded at $27.04. Approximately 7,219,699 shares were traded during trading, a decline of 82% from the average daily volume of 40,063,520 shares. The stock had previously closed at $26.73.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on T shares. The Goldman Sachs Group upped their price target on AT&T from $25.00 to $28.00 and gave the company a "buy" rating in a report on Thursday, December 5th. Barclays increased their target price on AT&T from $24.00 to $27.00 and gave the company an "overweight" rating in a report on Wednesday, December 4th. Royal Bank of Canada increased their target price on AT&T from $26.00 to $27.00 and gave the company an "outperform" rating in a report on Tuesday, January 28th. New Street Research raised AT&T from a "neutral" rating to a "buy" rating in a report on Tuesday, December 3rd. Finally, Morgan Stanley raised AT&T from an "equal weight" rating to an "overweight" rating and increased their target price for the company 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 given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, AT&T currently has a consensus rating of "Moderate Buy" and a consensus price target of $26.74.

AT&T Price Performance

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 has a 50-day moving average of $24.30 and a 200-day moving average of $22.82. The stock has a market cap of $194.85 billion, a PE ratio of 18.22, a PEG ratio of 3.00 and a beta of 0.56.

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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, topping the consensus estimate 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 year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.09%. The ex-dividend date was Friday, January 10th. AT&T's dividend payout ratio is currently 74.50%.

Hedge Funds Weigh In On AT&T

Several institutional investors have recently added to or reduced their stakes in T. Legacy Investment Solutions LLC purchased a new position in AT&T during the 3rd quarter valued at approximately $25,000. Minot DeBlois Advisors LLC purchased a new position in AT&T during the 4th quarter valued at approximately $25,000. Capital A Wealth Management LLC purchased a new position in shares of AT&T in the 4th quarter worth approximately $25,000. Putney Financial Group LLC purchased a new position in shares of AT&T in the 4th quarter worth approximately $27,000. Finally, Marshall Investment Management LLC purchased a new position in shares of AT&T in the 4th quarter worth approximately $28,000. 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.