AT&T (NYSE:T) Trading 0.5% Higher

AT&T Inc. (NYSE:T - Get Free Report) shares rose 0.5% on Tuesday . The stock traded as high as $17.21 and last traded at $17.07. Approximately 7,778,450 shares traded hands during trading, a decline of 80% from the average daily volume of 38,573,574 shares. The stock had previously closed at $16.99.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Tigress Financial boosted their price target on shares of AT&T from $28.00 to $29.00 and gave the company a "buy" rating in a report on Wednesday, January 31st. Wolfe Research upgraded shares of AT&T from a "peer perform" rating to an "outperform" rating and set a $21.00 target price for the company in a research report on Tuesday, March 5th. Deutsche Bank Aktiengesellschaft lifted their price target on AT&T from $23.00 to $24.00 and gave the company a "buy" rating in a report on Thursday, January 25th. Citigroup raised their target price on AT&T from $19.00 to $20.00 and gave the company a "buy" rating in a research report on Thursday, February 1st. Finally, Scotiabank boosted their price target on AT&T from $22.00 to $22.50 and gave the stock a "sector outperform" rating in a research report on Thursday, April 25th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, AT&T has an average rating of "Moderate Buy" and a consensus target price of $20.81.

AT&T Stock Up 0.6 %

The firm's 50-day simple moving average is $16.98 and its two-hundred day simple moving average is $16.69. The stock has a market cap of $122.50 billion, a price-to-earnings ratio of 9.19, a PEG ratio of 3.32 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 issued its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.02. The business had revenue of $30.03 billion for the quarter, compared to analyst estimates of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The firm's revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.60 earnings per share. On average, sell-side analysts expect that AT&T Inc. will post 2.24 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were issued a $0.2775 dividend. The ex-dividend date was Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a yield of 6.50%. AT&T's dividend payout ratio is presently 59.68%.

Hedge Funds Weigh In On AT&T

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Mackenzie Financial Corp boosted its stake in shares of AT&T by 12.9% during the 3rd quarter. Mackenzie Financial Corp now owns 2,577,352 shares of the technology company's stock worth $38,093,000 after buying an additional 294,986 shares during the last quarter. Brighton Jones LLC grew its stake in AT&T by 18.6% in the third quarter. Brighton Jones LLC now owns 41,104 shares of the technology company's stock valued at $617,000 after purchasing an additional 6,446 shares in the last quarter. Baystate Wealth Management LLC increased its position in shares of AT&T by 8.6% during the 3rd quarter. Baystate Wealth Management LLC now owns 22,956 shares of the technology company's stock worth $345,000 after purchasing an additional 1,814 shares during the last quarter. Waldron Private Wealth LLC raised its stake in shares of AT&T by 40.7% during the 3rd quarter. Waldron Private Wealth LLC now owns 75,537 shares of the technology company's stock worth $1,134,000 after purchasing an additional 21,834 shares in the last quarter. Finally, Washington Capital Management Inc. acquired a new stake in shares of AT&T in the 3rd quarter valued at approximately $370,000. 57.10% of the stock is owned by 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.