AT&T (NYSE:T) Stock Price Up 0.5% After Analyst Upgrade

AT&T Inc. (NYSE:T - Get Free Report) traded up 0.5% on Friday after Tigress Financial raised their price target on the stock from $29.00 to $30.00. Tigress Financial currently has a buy rating on the stock. AT&T traded as high as $21.80 and last traded at $21.76. 3,285,302 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 36,069,848 shares. The stock had previously closed at $21.65.

A number of other research analysts have also issued reports on the stock. Redburn Atlantic upgraded shares of AT&T to a "strong sell" rating in a research note on Monday, September 16th. JPMorgan Chase & Co. boosted their price objective on AT&T from $21.00 to $24.00 and gave the stock an "overweight" rating in a research report on Thursday, July 25th. BNP Paribas raised AT&T from an "underperform" rating to a "neutral" rating in a research report on Tuesday, June 11th. Moffett Nathanson lifted their target price on AT&T from $17.00 to $18.00 and gave the stock a "neutral" rating in a research report on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on AT&T from $24.00 to $26.00 and gave the company a "buy" rating in a research report on Friday, June 28th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $22.38.

Institutional Trading of AT&T

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Riggs Asset Managment Co. Inc. boosted its stake in AT&T by 356.5% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company's stock worth $27,000 after acquiring an additional 1,116 shares during the last quarter. Pineridge Advisors LLC bought a new stake in shares of AT&T in the 4th quarter valued at $25,000. Frank Rimerman Advisors LLC bought a new stake in shares of AT&T in the 4th quarter valued at $25,000. American Capital Advisory LLC raised its stake in AT&T by 107.5% during the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company's stock worth $30,000 after buying an additional 807 shares during the period. Finally, Altshuler Shaham Ltd bought a new position in AT&T during the second quarter worth about $30,000. 57.10% of the stock is owned by institutional investors.

AT&T Trading Up 1.1 %

The business has a 50 day simple moving average of $20.09 and a 200-day simple moving average of $18.46. The stock has a market capitalization of $156.99 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 3.66 and a beta of 0.59. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting the consensus estimate of $0.57. The company had revenue of $29.80 billion during the quarter, compared to analysts' expectations of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The business's quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.63 earnings per share. As a group, equities analysts expect that AT&T Inc. will post 2.2 earnings per share for the current year.

About AT&T

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.