AT&T (NYSE:T) Price Target Raised to $32.00

AT&T (NYSE:T) had its price objective boosted by Citigroup from $28.00 to $32.00 in a research note released on Monday morning,Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

A number of other brokerages also recently commented on T. New Street Research upgraded shares of AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. Royal Bank of Canada boosted their price target on AT&T from $27.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, March 19th. UBS Group increased their price target on AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Argus raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Thursday, January 16th. Finally, The Goldman Sachs Group increased their target price on AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. One analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $27.21.

AT&T Price Performance

T stock opened at $28.13 on Monday. The stock’s 50 day moving average price is $26.06 and its 200 day moving average price is $23.67. The firm has a market cap of $201.92 billion, a P/E ratio of 18.88, a PEG ratio of 3.00 and a beta of 0.56. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. AT&T has a 1 year low of $15.94 and a 1 year high of $28.61.

AT&T (NYSE:T) last issued its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. On average, sell-side analysts expect that AT&T will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date is Thursday, April 10th. AT&T’s dividend payout ratio is presently 74.50%.

Institutional Trading of AT&T

A number of institutional investors have recently added to or reduced their stakes in T. Carolinas Wealth Consulting LLC lifted its stake in shares of AT&T by 1.6% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company’s stock worth $550,000 after purchasing an additional 384 shares in the last quarter. Buska Wealth Management LLC lifted its position in AT&T by 3.2% during the 4th quarter. Buska Wealth Management LLC now owns 13,391 shares of the technology company’s stock worth $305,000 after acquiring an additional 412 shares in the last quarter. 1620 Investment Advisors Inc. lifted its position in AT&T by 1.6% during the 4th quarter. 1620 Investment Advisors Inc. now owns 26,161 shares of the technology company’s stock worth $596,000 after acquiring an additional 421 shares in the last quarter. Tradewinds Capital Management LLC boosted its holdings in AT&T by 48.6% in the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock worth $30,000 after acquiring an additional 430 shares during the period. Finally, BNP Paribas grew its position in AT&T by 1.0% in the fourth quarter. BNP Paribas now owns 41,716 shares of the technology company’s stock valued at $942,000 after acquiring an additional 430 shares in the last quarter. 57.10% of the stock is 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.