AT&T (NYSE:T) Stock Price Up 0.4% After Analyst Upgrade

AT&T Inc. (NYSE:T - Get Free Report) rose 0.4% during mid-day trading on Monday after Tigress Financial raised their price target on the stock from $32.00 to $34.00. Tigress Financial currently has a buy rating on the stock. AT&T traded as high as $27.08 and last traded at $26.93. Approximately 4,038,508 shares traded hands during trading, a decline of 89% from the average daily volume of 36,377,491 shares. The stock had previously closed at $26.81.

A number of other research firms have also weighed in on T. JPMorgan Chase & Co. increased their price objective on AT&T from $28.00 to $31.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. DZ Bank raised shares of AT&T from a "hold" rating to a "buy" rating and set a $27.00 price target for the company in a research report on Wednesday, January 29th. TD Securities increased their target price on AT&T from $29.00 to $30.00 and gave the stock a "hold" rating in a research note on Thursday, April 24th. Williams Trading set a $30.00 price target on shares of AT&T in a research report on Thursday, April 24th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $31.00 price target (up previously from $30.00) on shares of AT&T in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $28.71.

Institutional Investors Weigh In On AT&T

Institutional investors and hedge funds have recently made changes to their positions in the company. Minot DeBlois Advisors LLC acquired a new position in AT&T in the fourth quarter worth approximately $25,000. Capital A Wealth Management LLC bought a new stake in AT&T during the fourth quarter valued at about $25,000. Putney Financial Group LLC bought a new position in AT&T during the fourth quarter worth $27,000. Marshall Investment Management LLC bought a new stake in shares of AT&T in the 4th quarter worth approximately $28,000. Finally, Core Alternative Capital increased its stake in AT&T by 125.4% in the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company's stock valued at $29,000 after acquiring an additional 568 shares during the period. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Up 1.5 %

The firm has a 50 day simple moving average of $27.03 and a 200-day simple moving average of $24.43. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The stock has a market capitalization of $198.91 billion, a price-to-earnings ratio of 18.60, a price-to-earnings-growth ratio of 3.00 and a beta of 0.42.

AT&T (NYSE:T - Get Free Report) last released its earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). AT&T had a net margin of 8.95% and a return on equity of 13.97%. The business had revenue of $30.63 billion for the quarter, compared to analyst estimates of $30.39 billion. During the same quarter in the previous year, the company posted $0.55 earnings per share. The business's revenue for the quarter was up 2.0% on a year-over-year basis. On average, sell-side analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.01%. AT&T's dividend payout ratio (DPR) is 68.10%.

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.