AT&T (NYSE:T) Stock Price Up 2.2% - Here's What Happened

On Tuesday, AT&T Inc. (NYSE:T) saw its stock price increase by 2.2% during mid-day trading. The shares reached a high of $27.56 before closing at $27.55. A total of about 10,449,619 shares were exchanged, representing a notable drop of 70% compared to the company’s average daily volume of 34,285,727 shares. The previous market close was at $26.96.

Recent Analyst Ratings

The stock has attracted attention from various analysts recently. For instance, on December 4, JPMorgan Chase & Co. increased its price target for AT&T shares from $25.00 to $28.00, assigning a rating of "overweight". DZ Bank also upgraded the stock from a "hold" to a "buy" with a price target of $27.00, and Sanford C. Bernstein raised its target from $28.00 to $29.00, giving an "outperform" rating. Additionally, BNP Paribas shifted its rating from "neutral" to "outperform" with a target price of $28.50. Only one analyst has rated the stock as a sell, while five have issued holds, seventeen have given buy ratings, and one designated it as a strong buy, resulting in an overall average rating of "Moderate Buy" with a target price of $26.79 according to MarketBeat.com.

Financial Performance and Metrics

Earlier this year, AT&T released its quarterly earnings data showing an earnings per share (EPS) of $0.54, surpassing analysts' expectations of $0.48. The company has a return on equity of 13.97% and a net profit margin of 8.95%. Analysts predict that AT&T will post an EPS of 2.14 for the current fiscal year. The company maintains a debt-to-equity ratio of 1.00, with a current ratio of 0.66 and a quick ratio of 0.62. Its market capitalization stands at $195.78 billion, alongside a P/E ratio of 18.31, a P/E/G ratio of 3.00, and a beta of 0.56.

Investor Movements

Recently, several hedge funds have adjusted their holdings in AT&T. For example, Carolinas Wealth Consulting LLC increased its position by 1.6% in the fourth quarter, owning 24,161 shares worth $550,000. Buska Wealth Management LLC raised its stake by 3.2%, now holding 13,391 shares valued at $305,000. Other notable investors include 1620 Investment Advisors Inc. and Tradewinds Capital Management LLC, which both expanded their shares during this period. Overall, institutional investors currently own 57.10% of AT&T's stock.

About AT&T

AT&T, Inc. is a holding company engaged in telecommunications and technology services, operating primarily through two segments: Communications and Latin America. The Communications segment includes wireless and wireline telecom and broadband services for both consumers and businesses within the United States and globally.

AT&T, Stock, Increase