AT&T (NYSE:T) Stock Price Up 1.2% Following Analyst Upgrade

Shares of AT&T Inc. (NYSE:T - Get Free Report) traded up 1.2% during mid-day trading on Tuesday after Wells Fargo & Company raised their price target on the stock from $22.00 to $25.00. Wells Fargo & Company currently has an overweight rating on the stock. AT&T traded as high as $21.60 and last traded at $21.52. 9,243,739 shares traded hands during trading, a decline of 74% from the average session volume of 35,555,449 shares. The stock had previously closed at $21.26.

T has been the subject of a number of other research reports. Citigroup increased their price objective on shares of AT&T from $21.00 to $24.00 and gave the company a "buy" rating in a report on Wednesday, September 11th. Evercore ISI increased their price objective on shares of AT&T from $18.00 to $19.00 and gave the company an "in-line" rating in a report on Thursday, July 25th. The Goldman Sachs Group assumed coverage on shares of AT&T in a report on Monday, July 1st. They issued a "buy" rating and a $22.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on shares of AT&T from $21.00 to $24.00 and gave the company an "overweight" rating in a report on Thursday, July 25th. Finally, Royal Bank of Canada increased their price objective on shares of AT&T from $18.00 to $19.00 and gave the company a "sector perform" rating in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $22.69.

Institutional Trading of AT&T

Several institutional investors have recently added to or reduced their stakes in T. Syon Capital LLC boosted its position in AT&T by 46.3% in the 4th quarter. Syon Capital LLC now owns 16,652 shares of the technology company's stock valued at $279,000 after buying an additional 5,269 shares during the period. Creekmur Asset Management LLC purchased a new stake in shares of AT&T during the 4th quarter worth $61,000. Fisher Asset Management LLC lifted its position in shares of AT&T by 29.4% during the 4th quarter. Fisher Asset Management LLC now owns 130,844 shares of the technology company's stock worth $2,196,000 after purchasing an additional 29,757 shares during the last quarter. Trust Co. of Toledo NA OH lifted its position in shares of AT&T by 3.6% during the 1st quarter. Trust Co. of Toledo NA OH now owns 96,236 shares of the technology company's stock worth $1,694,000 after purchasing an additional 3,354 shares during the last quarter. Finally, CWM LLC lifted its position in shares of AT&T by 0.4% during the 1st quarter. CWM LLC now owns 2,408,506 shares of the technology company's stock worth $42,390,000 after purchasing an additional 9,627 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company's stock.

AT&T Trading Up 1.2 %

The firm has a market capitalization of $154.34 billion, a PE ratio of 11.57, a PEG ratio of 3.62 and a beta of 0.60. The company's 50-day moving average price is $20.81 and its 200-day moving average price is $18.89. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.57. The business 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 company's revenue for the quarter was down .3% on a year-over-year basis. During the same period in the previous year, the company earned $0.63 EPS. On average, sell-side analysts expect that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be paid a dividend of $0.2775 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.11 annualized dividend and a yield of 5.16%. AT&T's dividend payout ratio is currently 59.68%.

AT&T Company Profile

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.