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NEW YORK ( TheStreet) -- AT&T (NYSE: T) hit a new 52-week high Wednesday as it is currently trading at $31.96, above its previous 52-week high of $31.94 with 8.7 million shares traded as of 12:15 p.m. ET. Average volume has been 25 million shares over the past 30 days. AT&T has a market cap of $178.31 billion and is part of the technology sector and telecommunications industry. Shares are up 5.1% year to date as of the close of trading on Tuesday. AT&T Inc., together with its subsidiaries, provides telecommunications services to consumers, businesses, and other providers worldwide. The company has a P/E ratio of 48, above the average telecommunications industry P/E ratio of 15.4 and above the S&P 500 P/E ratio of 17.7.