AT&T (NYSE:T) Trading 0.4% Higher

AT&T Inc. (NYSE:T - Get Free Report) rose 0.4% on Wednesday . The company traded as high as $16.96 and last traded at $16.96. Approximately 8,393,505 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 38,994,352 shares. The stock had previously closed at $16.89.

Wall Street Analysts Forecast Growth

T has been the subject of a number of recent research reports. Oppenheimer upgraded AT&T from a "market perform" rating to an "outperform" rating and set a $21.00 price objective for the company in a research report on Friday, January 19th. Barclays raised shares of AT&T from an "equal weight" rating to an "overweight" rating and set a $20.00 price objective on the stock in a research note on Monday. JPMorgan Chase & Co. upgraded shares of AT&T from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $18.00 to $21.00 in a research report on Thursday, February 1st. Scotiabank boosted their price target on AT&T from $22.00 to $22.50 and gave the company a "sector outperform" rating in a report on Thursday, April 25th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on AT&T from $23.00 to $24.00 and gave the stock a "buy" rating in a report on Thursday, January 25th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $20.81.

AT&T Stock Up 0.2 %

The stock has a fifty day moving average price of $16.96 and a 200-day moving average price of $16.62. The firm has a market cap of $121.03 billion, a PE ratio of 9.10, a PEG ratio of 3.38 and a beta of 0.57. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.63 and a current ratio of 0.68.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, beating analysts' consensus estimates of $0.53 by $0.02. The firm had revenue of $30.03 billion for the quarter, compared to analysts' expectations of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. AT&T's revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.60 earnings per share. Research analysts expect that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be issued a dividend of $0.2775 per share. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.11 annualized dividend and a dividend yield of 6.56%. AT&T's payout ratio is currently 59.68%.

Hedge Funds Weigh In On AT&T

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Klingman & Associates LLC lifted its holdings in AT&T by 3.1% in the 1st quarter. Klingman & Associates LLC now owns 19,889 shares of the technology company's stock worth $350,000 after buying an additional 603 shares in the last quarter. Prosperity Consulting Group LLC increased its position in shares of AT&T by 10.8% during the first quarter. Prosperity Consulting Group LLC now owns 51,740 shares of the technology company's stock worth $911,000 after acquiring an additional 5,048 shares during the last quarter. Mission Wealth Management LP lifted its stake in shares of AT&T by 20.6% in the first quarter. Mission Wealth Management LP now owns 65,136 shares of the technology company's stock worth $1,146,000 after acquiring an additional 11,105 shares in the last quarter. Diversify Advisory Services LLC purchased a new position in AT&T in the first quarter valued at about $1,036,000. Finally, J.W. Cole Advisors Inc. grew its stake in AT&T by 1.4% during the 1st quarter. J.W. Cole Advisors Inc. now owns 372,724 shares of the technology company's stock valued at $6,559,000 after purchasing an additional 5,079 shares in the last quarter. Hedge funds and other 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.