AT&T (NYSE:T) Stock Price Up 0% After Analyst Upgrade

AT&T Inc. (NYSE:T - Get Free Report)'s share price shot up 0% on Wednesday after Oppenheimer raised their price target on the stock from $27.00 to $32.00. Oppenheimer currently has an outperform rating on the stock. AT&T traded as high as $28.59 and last traded at $28.49. 11,656,657 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 36,197,019 shares. The stock had previously closed at $28.48.

Other research analysts have also issued research reports about the stock. New Street Research upgraded shares of AT&T from a "neutral" rating to a "buy" rating in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. upped their target price on AT&T from $25.00 to $28.00 and gave the company an "overweight" rating in a research report on Wednesday, December 4th. UBS Group lifted their price target on AT&T from $25.00 to $30.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. Royal Bank of Canada increased their price objective on AT&T from $27.00 to $28.00 and gave the company an "outperform" rating in a report on Wednesday, March 19th. Finally, Barclays raised their price objective on AT&T from $24.00 to $27.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, AT&T presently has an average rating of "Moderate Buy" and a consensus price target of $27.21.

Hedge Funds Weigh In On AT&T

Several institutional investors and hedge funds have recently modified their holdings of T. Quent Capital LLC grew its holdings in AT&T by 12.2% in the first quarter. Quent Capital LLC now owns 17,743 shares of the technology company's stock valued at $502,000 after purchasing an additional 1,931 shares during the period. Sage Capital Advisors llc lifted its position in shares of AT&T by 0.6% during the 1st quarter. Sage Capital Advisors llc now owns 197,917 shares of the technology company's stock valued at $5,597,000 after buying an additional 1,176 shares in the last quarter. Moody National Bank Trust Division grew its stake in AT&T by 8.4% in the 1st quarter. Moody National Bank Trust Division now owns 43,402 shares of the technology company's stock valued at $1,227,000 after acquiring an additional 3,370 shares during the period. Key Colony Management LLC increased its holdings in AT&T by 100.0% in the 1st quarter. Key Colony Management LLC now owns 20,000 shares of the technology company's stock worth $566,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Versant Capital Management Inc increased its holdings in AT&T by 96.9% in the 1st quarter. Versant Capital Management Inc now owns 17,211 shares of the technology company's stock worth $487,000 after acquiring an additional 8,471 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company's stock.

AT&T Price Performance

The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $191.27 billion, a price-to-earnings ratio of 17.88, a PEG ratio of 3.00 and a beta of 0.42. The stock's 50-day simple moving average is $26.26 and its two-hundred day simple moving average is $23.73.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. Equities research analysts predict that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date of this dividend is Thursday, April 10th. AT&T's dividend payout ratio is presently 74.50%.

AT&T Company Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.