AT&T Inc. (NYSE:T – Get Free Report)’s share price shot up 0.9% during mid-day trading on Tuesday . The company traded as high as $16.49 and last traded at $16.45. 10,971,878 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 38,406,129 shares. The stock had previously closed at $16.31.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on T. StockNews.com cut shares of AT&T from a “buy” rating to a “hold” rating in a research report on Thursday, April 4th. Tigress Financial boosted their price target on AT&T from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $17.00 price target on shares of AT&T in a research note on Thursday, April 11th. Oppenheimer raised AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a research note on Friday, January 19th. Finally, Barclays boosted their target price on AT&T from $17.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 31st. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, AT&T has an average rating of “Moderate Buy” and a consensus price target of $20.50.
Read Our Latest Stock Analysis on AT&T
AT&T Stock Up 1.0 %
AT&T (NYSE:T – Get Free Report) last released its earnings results on Wednesday, January 24th. The technology company reported $0.54 EPS 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 company had revenue of $32 billion during the quarter, compared to analysts’ expectations of $31.44 billion. During the same period in the prior year, the company posted $0.61 earnings per share. The company’s revenue was up 2.2% on a year-over-year basis. On average, research analysts anticipate that AT&T Inc. will post 2.21 EPS for the current fiscal year.
AT&T Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 6.74%. The ex-dividend date is Tuesday, April 9th. AT&T’s dividend payout ratio (DPR) is currently 56.63%.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the stock. Tyche Wealth Partners LLC raised its stake in shares of AT&T by 2.3% in the first quarter. Tyche Wealth Partners LLC now owns 62,732 shares of the technology company’s stock worth $1,104,000 after buying an additional 1,417 shares during the period. Fifth Third Bancorp grew its position in shares of AT&T by 5.7% during the first quarter. Fifth Third Bancorp now owns 910,168 shares of the technology company’s stock worth $16,019,000 after purchasing an additional 49,335 shares in the last quarter. McAdam LLC grew its position in shares of AT&T by 29.5% during the first quarter. McAdam LLC now owns 32,810 shares of the technology company’s stock worth $577,000 after purchasing an additional 7,473 shares in the last quarter. Wesbanco Bank Inc. grew its position in shares of AT&T by 50.5% during the first quarter. Wesbanco Bank Inc. now owns 358,813 shares of the technology company’s stock worth $6,315,000 after purchasing an additional 120,357 shares in the last quarter. Finally, Summit Trail Advisors LLC grew its holdings in AT&T by 103.4% during the 1st quarter. Summit Trail Advisors LLC now owns 118,178 shares of the technology company’s stock valued at $2,080,000 after buying an additional 60,077 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.
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.
Recommended Stories
- Five stocks we like better than AT&T
- 3 Must-Buy Warren Buffett Stocks for Volatile Times
- Charles Schwab Fortifies its Uptrend on EPS Beat
- Consumer Staples Stocks, Explained
- Lockheed Martin Stock Aims for a Fresh All-Time High
- 5 Top Rated Dividend Stocks to Consider
- Beyond the Halving: The Future of Bitcoin Mining Stocks
Receive News & Ratings for AT&T Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AT&T and related companies with MarketBeat.com's FREE daily email newsletter.