AT&T (NYSE:T) Shares Up 0.6% - Here's Why

AT&T Inc. (NYSE:T - Get Free Report)'s share price shot up 0.6% during trading on Wednesday . The company traded as high as $27.78 and last traded at $27.68. 5,603,303 shares changed hands during trading, a decline of 87% from the average session volume of 42,677,277 shares. The stock had previously closed at $27.50.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Tigress Financial increased their target price on shares of AT&T from $30.00 to $32.00 and gave the stock a "buy" rating in a report on Tuesday, February 4th. Scotiabank boosted their target price on AT&T from $28.50 to $29.00 and gave the company a "sector outperform" rating in a research note on Tuesday, April 8th. BNP Paribas upgraded AT&T from a "neutral" rating to an "outperform" rating and set a $28.50 price objective on the stock in a report on Thursday, February 13th. Royal Bank of Canada raised their target price 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, Citigroup restated a "buy" rating on shares of AT&T in a report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $27.24.

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 market cap of $194.67 billion, a P/E ratio of 18.20, a price-to-earnings-growth ratio of 3.00 and a beta of 0.42. The firm's 50 day moving average is $26.84 and its 200 day moving average is $24.15.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings data 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%. As a group, analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date of this dividend is Thursday, April 10th. AT&T's payout ratio is currently 74.50%.

Institutional Trading of AT&T

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital A Wealth Management LLC purchased a new position in shares of AT&T in the 4th quarter valued at approximately $25,000. Minot DeBlois Advisors LLC acquired a new position in shares of AT&T in the 4th quarter valued at $25,000. Putney Financial Group LLC purchased a new position in AT&T in the 4th quarter worth $27,000. Marshall Investment Management LLC purchased a new stake in AT&T during the 4th quarter valued at about $28,000. Finally, Tradewinds Capital Management LLC raised its stake in shares of AT&T by 48.6% in the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company's stock worth $30,000 after purchasing an additional 430 shares during the last quarter. 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.