AT&T (NYSE:T) Trading Up 0.4% – Should You Buy?

by · The Cerbat Gem

AT&T Inc. (NYSE:T – Get Free Report) shares traded up 0.4% on Tuesday . The company traded as high as $22.22 and last traded at $22.20. 5,568,618 shares traded hands during trading, a decline of 84% from the average session volume of 35,532,586 shares. The stock had previously closed at $22.11.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a research report on Monday, September 16th. TD Cowen raised their price objective on shares of AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. increased their target price on AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Tigress Financial lifted their price target on shares of AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a report on Friday, September 27th. Finally, Citigroup increased their price objective on shares of AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.40.

View Our Latest Stock Report on AT&T

AT&T Price Performance

The stock has a market capitalization of $159.75 billion, a price-to-earnings ratio of 18.13, a P/E/G ratio of 3.74 and a beta of 0.60. The business has a 50-day simple moving average of $21.26 and a two-hundred day simple moving average of $19.19. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T – Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The company had revenue of $30.20 billion during the quarter, compared to analyst estimates of $30.50 billion. During the same quarter last year, the firm posted $0.64 EPS. The business’s revenue for the quarter was down .5% on a year-over-year basis. As a group, research analysts predict that AT&T Inc. will post 2.21 earnings per share for the current fiscal 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 given a $0.2775 dividend. The ex-dividend date is Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.98%. AT&T’s dividend payout ratio (DPR) is 90.24%.

Institutional Trading of AT&T

A number of hedge funds have recently modified their holdings of the business. Davidson Kempner Capital Management LP acquired a new stake in AT&T in the second quarter valued at approximately $23,888,000. Talbot Financial LLC bought a new stake in shares of AT&T during the 3rd quarter worth $7,438,000. Mackenzie Financial Corp grew its stake in AT&T by 12.2% in the 2nd quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock valued at $50,486,000 after buying an additional 288,093 shares during the last quarter. DRW Securities LLC raised its holdings in AT&T by 642.2% in the 2nd quarter. DRW Securities LLC now owns 104,309 shares of the technology company’s stock worth $1,997,000 after acquiring an additional 90,255 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its position in AT&T by 4.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 1,037,529 shares of the technology company’s stock worth $19,827,000 after acquiring an additional 43,062 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

About AT&T

(Get Free Report)

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.

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