AT&T (NYSE:T) Trading 1% Higher – Time to Buy?

by · The Markets Daily

AT&T Inc. (NYSE:T – Get Free Report)’s stock price rose 1% during mid-day trading on Tuesday . The company traded as high as $22.14 and last traded at $22.14. Approximately 3,073,581 shares were traded during trading, a decline of 91% from the average daily volume of 35,578,723 shares. The stock had previously closed at $21.92.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on T shares. Citigroup lifted their target price 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. Oppenheimer increased their target price on AT&T from $23.00 to $24.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Barclays boosted their price target on AT&T from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Royal Bank of Canada reiterated a “sector perform” rating and set a $22.00 price objective on shares of AT&T in a research note on Thursday, October 24th. Finally, Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $23.40.

Check Out Our Latest Research Report on AT&T

AT&T Stock Up 0.6 %

The business’s 50 day moving average is $21.51 and its 200 day moving average is $19.40. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The stock has a market cap of $158.22 billion, a price-to-earnings ratio of 18.00, a price-to-earnings-growth ratio of 3.32 and a beta of 0.59.

AT&T (NYSE:T – Get Free Report) last released its earnings results 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. The company had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.64 EPS. Equities analysts expect that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were paid a $0.2775 dividend. The ex-dividend date was Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.03%. AT&T’s payout ratio is 90.24%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Mercer Global Advisors Inc. ADV grew its holdings in AT&T by 1,379.0% during the second quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock valued at $270,581,000 after purchasing an additional 13,201,774 shares during the last quarter. AQR Capital Management LLC grew its stake in AT&T by 43.3% in the 2nd quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock valued at $414,563,000 after buying an additional 6,602,586 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in AT&T by 7.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock worth $1,549,375,000 after acquiring an additional 5,592,123 shares during the period. Thornburg Investment Management Inc. lifted its position in AT&T by 22.0% during the 2nd quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock worth $477,528,000 after acquiring an additional 4,511,725 shares during the last quarter. Finally, Jupiter Asset Management Ltd. bought a new stake in AT&T during the second quarter valued at about $78,570,000. Institutional investors own 57.10% of the company’s stock.

AT&T Company Profile

(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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