AT&T (NYSE:T) Stock Price Up 2.2% - Here's Why

AT&T Inc. (NYSE:T - Get Free Report) shares traded up 2.2% on Tuesday . The company traded as high as $27.56 and last traded at $27.55. 10,449,619 shares were traded during mid-day trading, a decline of 70% from the average session volume of 34,285,727 shares. The stock had previously closed at $26.96.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Argus upgraded AT&T from a "hold" rating to a "buy" rating and set a $27.00 target price for the company in a report on Thursday, January 16th. BNP Paribas raised 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 note on Thursday, February 13th. DZ Bank raised shares of AT&T from a "hold" rating to a "buy" rating and set a $27.00 target price on the stock in a report on Wednesday, January 29th. Sanford C. Bernstein upped their price objective on shares of AT&T from $28.00 to $29.00 and gave the company an "outperform" rating in a report on Tuesday, January 28th. Finally, The Goldman Sachs Group upped their price target on shares of AT&T from $25.00 to $28.00 and gave the company a "buy" rating in a research note on Thursday, December 5th. One 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 company's stock. Based on data from MarketBeat, AT&T presently has an average rating of "Moderate Buy" and a consensus price target of $26.79.

AT&T Stock Up 0.1 %

The firm has a 50 day simple moving average of $25.59 and a two-hundred day simple moving average of $23.47. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $202.63 billion, a P/E ratio of 18.94, a PEG ratio of 3.00 and a beta of 0.56.

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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 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%. On average, equities research analysts expect that AT&T Inc. will post 2.14 earnings per share for the current year.

Hedge Funds Weigh In On AT&T

Several large investors have recently bought and sold shares of the company. Norges Bank acquired a new stake in AT&T in the fourth quarter valued at $1,858,418,000. GQG Partners LLC increased its stake in shares of AT&T by 37.3% in the fourth quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company's stock valued at $2,203,667,000 after buying an additional 26,280,866 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of AT&T by 31.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company's stock worth $1,216,665,000 after acquiring an additional 12,881,578 shares during the last quarter. Northern Trust Corp lifted its stake in shares of AT&T by 16.3% in the fourth quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company's stock worth $1,779,438,000 after acquiring an additional 10,945,679 shares during the period. Finally, Assetmark Inc. boosted its holdings in AT&T by 4,986.1% in the fourth quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company's stock valued at $225,741,000 after acquiring an additional 9,719,036 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

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.