AT&T (NYSE:T) Trading Up 0.6%

Shares of AT&T Inc. (NYSE:T) were up 0.6% on Tuesday . The stock traded as high as $17.24 and last traded at $17.23. Approximately 7,228,143 shares changed hands during trading, a decline of 81% from the average daily volume of 38,530,738 shares. The stock had previously closed at $17.12.

Analysts Set New Price Targets

A number of brokerages recently issued reports on T. Wolfe Research raised AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price target for the company in a report on Tuesday, March 5th. Barclays boosted their target price on AT&T from $17.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, January 31st. Citigroup raised their price target on AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. TheStreet upgraded AT&T from a “c” rating to a “b-” rating in a research note on Wednesday, January 24th. Finally, JPMorgan Chase & Co. upgraded shares of AT&T from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $18.00 to $21.00 in a research note on Thursday, February 1st. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $21.61.

AT&T Price Performance

The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The stock has a fifty day simple moving average of $17.08 and a two-hundred day simple moving average of $16.26. The company has a market cap of $125.71 billion, a PE ratio of 8.97, a price-to-earnings-growth ratio of 2.59 and a beta of 0.57.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, January 24th. The technology company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). AT&T had a return on equity of 15.39% and a net margin of 11.76%. The business had revenue of $32 billion for the quarter, compared to analyst estimates of $31.44 billion. During the same period in the prior year, the company earned $0.61 EPS. The company’s revenue was up 2.2% on a year-over-year basis. On average, equities analysts predict that AT&T Inc. will post 2.21 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Pineridge Advisors LLC purchased a new position in AT&T in the 4th quarter valued at approximately $25,000. Frank Rimerman Advisors LLC acquired a new stake in AT&T in the fourth quarter valued at $25,000. Carmel Capital Partners LLC increased its position in shares of AT&T by 16,250.0% in the third quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock valued at $25,000 after buying an additional 1,625 shares in the last quarter. FWL Investment Management LLC acquired a new position in shares of AT&T during the 4th quarter worth $31,000. Finally, Financial Freedom LLC purchased a new stake in shares of AT&T in the 4th quarter worth about $34,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

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.