AT&T (NYSE:T) Sets New 12-Month High – Still a Buy?

Shares of AT&T Inc. (NYSE:T) reached a new 52-week high on Tuesday . The company traded as high as $29.19 and last traded at $28.87, with a volume of 3368758 shares trading hands. The stock had previously closed at $28.94.

Wall Street Analysts Forecast Growth

A number of analysts have commented on T shares. Royal Bank Of Canada lifted their target price on AT&T from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Wall Street Zen raised AT&T from a “hold” rating to a “buy” rating in a report on Friday, April 25th. UBS Group reissued a “buy” rating and issued a $31.00 target price (up previously from $30.00) on shares of AT&T in a report on Wednesday, June 18th. Barclays lifted their target price on AT&T from $27.00 to $30.00 and gave the stock an “overweight” rating in a report on Friday, April 25th. Finally, Citigroup reissued a “buy” rating on shares of AT&T in a report on Tuesday, June 17th. One analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, AT&T has a consensus rating of “Moderate Buy” and a consensus price target of $28.90.

AT&T Stock Down 1.9%

The company has a market capitalization of $203.78 billion, a PE ratio of 17.37, a P/E/G ratio of 4.10 and a beta of 0.42. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.70 and a quick ratio of 0.65. The company has a 50-day moving average of $27.74 and a two-hundred day moving average of $26.05.

AT&T (NYSE:T) last released its earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). The company had revenue of $30.63 billion for the quarter, compared to analysts’ expectations of $30.39 billion. AT&T had a net margin of 9.64% and a return on equity of 13.63%. AT&T’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.55 earnings per share. Sell-side analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $1.11 annualized dividend and a yield of 3.92%. AT&T’s dividend payout ratio (DPR) is presently 68.10%.

Hedge Funds Weigh In On AT&T

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Stone House Investment Management LLC bought a new position in shares of AT&T in the first quarter worth about $25,000. Hager Investment Management Services LLC boosted its stake in shares of AT&T by 182.1% in the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock worth $28,000 after acquiring an additional 641 shares during the period. IMA Advisory Services Inc. bought a new position in shares of AT&T in the first quarter worth about $29,000. Core Alternative Capital boosted its stake in shares of AT&T by 125.4% in the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock worth $29,000 after acquiring an additional 568 shares during the period. Finally, Capital A Wealth Management LLC bought a new position in shares of AT&T in the fourth quarter worth about $25,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

About AT&T

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.