AT&T (NYSE:T) Share Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

AT&T Inc. (NYSE:T) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $20.94 and traded as high as $22.78. AT&T shares last traded at $22.61, with a volume of 25,406,988 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts have weighed in on T shares. Wells Fargo & Company decreased their price target on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Hsbc Global Res raised AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. Citigroup increased their target price on shares of AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. lifted their price target on AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $22.00 target price on shares of AT&T in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, eight have given a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $25.53.

AT&T Stock Performance

The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The business has a 50 day moving average price of $22.78 and a 200 day moving average price of $21.01. The stock has a market cap of $163.38 billion, a P/E ratio of 18.51, a PEG ratio of 3.60 and a beta of 0.59.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. The company had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The firm’s revenue was down .5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.64 EPS. As a group, sell-side analysts expect that AT&T Inc. will post 2.19 EPS for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.87%. AT&T’s dividend payout ratio is presently 90.24%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Legacy Investment Solutions LLC acquired a new stake in AT&T during the 3rd quarter worth about $25,000. Ritter Daniher Financial Advisory LLC DE increased its holdings in AT&T by 169.2% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after buying an additional 841 shares during the period. Safe Harbor Fiduciary LLC acquired a new position in AT&T in the 3rd quarter worth approximately $35,000. Reston Wealth Management LLC purchased a new position in AT&T during the 3rd quarter worth approximately $35,000. Finally, Altshuler Shaham Ltd acquired a new stake in AT&T during the 2nd quarter valued at approximately $30,000. 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.