AT&T (NYSE:T) Trading Up 0% Following Analyst Upgrade

AT&T Inc. (NYSE:T - Get Free Report) shares shot 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 changed hands 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 equities research analysts have also issued reports on T. Morgan Stanley raised AT&T from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $19.00 to $28.00 in a research report on Monday, December 16th. Argus raised shares of AT&T from a "hold" rating to a "buy" rating and set a $27.00 price objective on the stock in a research report on Thursday, January 16th. DZ Bank raised shares of AT&T from a "hold" rating to a "buy" rating and set a $27.00 target price for the company in a research report on Wednesday, January 29th. Royal Bank of Canada lifted their price target on shares of AT&T from $27.00 to $28.00 and gave the stock an "outperform" rating in a report on Wednesday, March 19th. Finally, Scotiabank increased their price objective on AT&T from $26.00 to $28.50 and gave the company a "sector outperform" rating in a report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $27.21.

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Institutional Trading of AT&T

A number of large investors have recently modified their holdings of the business. Tradition Wealth Management LLC bought a new position in AT&T in the third quarter valued at $270,000. Kestra Investment Management LLC bought a new position in shares of AT&T during the 3rd quarter valued at about $382,000. Paloma Partners Management Co lifted its position in AT&T by 141.8% in the 3rd quarter. Paloma Partners Management Co now owns 31,038 shares of the technology company's stock worth $683,000 after buying an additional 105,338 shares during the last quarter. Benjamin Edwards Inc. lifted its position in AT&T by 1,855.5% in the 3rd quarter. Benjamin Edwards Inc. now owns 92,810 shares of the technology company's stock worth $2,042,000 after buying an additional 88,064 shares during the last quarter. Finally, Concentric Capital Strategies LP purchased a new stake in AT&T in the third quarter worth approximately $1,978,000. Institutional investors own 57.10% of the company's stock.

AT&T Price Performance

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

AT&T (NYSE:T - Get Free Report) last issued its earnings results on Monday, January 27th. The technology company reported $0.54 EPS 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%. Sell-side analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The business also recently declared 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. The ex-dividend date is Thursday, April 10th. This represents a $1.11 annualized dividend and a yield of 3.95%. AT&T's payout ratio is 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.