AT&T (NYSE:T) Price Target Raised to $27.00

AT&T (NYSE:T) had its price objective lifted by Oppenheimer from $24.00 to $27.00 in a report published on Wednesday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the technology company’s stock.

A number of other analysts have also recently commented on T. Citigroup lifted their price objective on AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Wells Fargo & Company lowered 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 upgraded AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. Barclays lifted their price target on AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Redburn Atlantic upgraded AT&T to a “strong sell” rating in a report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, AT&T currently has an average rating of “Moderate Buy” and a consensus target price of $24.07.

AT&T Trading Down 0.8 %

AT&T stock opened at $23.55 on Wednesday. The stock has a market cap of $168.94 billion, a PE ratio of 19.14, a P/E/G ratio of 3.41 and a beta of 0.59. The stock has a 50-day moving average price of $22.28 and a 200 day moving average price of $20.28. AT&T has a 52 week low of $15.94 and a 52 week high of $24.03. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The firm had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter last year, the business posted $0.64 EPS. Equities research analysts predict that AT&T will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were issued a $0.2775 dividend. The ex-dividend date was Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.71%. AT&T’s dividend payout ratio (DPR) is 90.24%.

Institutional Investors Weigh In On AT&T

A number of institutional investors have recently made changes to their positions in the company. Inspire Trust Co. N.A. increased its holdings in shares of AT&T by 19.7% in the 3rd quarter. Inspire Trust Co. N.A. now owns 140,000 shares of the technology company’s stock valued at $3,080,000 after acquiring an additional 23,000 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of AT&T by 41.4% in the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock valued at $168,969,000 after acquiring an additional 2,326,904 shares during the last quarter. Tidal Investments LLC increased its holdings in shares of AT&T by 1.7% in the 3rd quarter. Tidal Investments LLC now owns 640,725 shares of the technology company’s stock valued at $14,096,000 after acquiring an additional 10,954 shares during the last quarter. Destination Wealth Management bought a new position in AT&T during the 3rd quarter worth $240,000. Finally, Wilmington Savings Fund Society FSB grew its stake in AT&T by 386.1% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 266,565 shares of the technology company’s stock worth $5,864,000 after buying an additional 211,723 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

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.