Brokerages Set AT&T Inc. (NYSE:T) Price Target at $22.38

AT&T Inc. (NYSE:T) has received a consensus rating of “Hold” from the nineteen ratings firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $22.38.

A number of analysts recently commented on T shares. Barclays upped their price objective on shares of AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Tigress Financial increased their price target on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Deutsche Bank Aktiengesellschaft lifted their price objective on AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a report on Friday, June 28th. TD Cowen increased their target price on AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Finally, UBS Group restated a “buy” rating and set a $24.00 target price on shares of AT&T in a report on Tuesday, June 18th.

AT&T Stock Up 0.3 %

Shares of NYSE:T opened at $22.20 on Monday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. The stock has a market cap of $159.14 billion, a price-to-earnings ratio of 11.93, a P/E/G ratio of 3.75 and a beta of 0.59. The company has a 50 day moving average of $20.35 and a 200-day moving average of $18.60. AT&T has a one year low of $14.12 and a one year high of $22.34.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.57. The business had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The firm’s revenue was down .3% on a year-over-year basis. During the same period last year, the company earned $0.63 EPS. On average, sell-side analysts forecast that AT&T will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 5.00%. The ex-dividend date is Thursday, October 10th. AT&T’s payout ratio is 59.68%.

Hedge Funds Weigh In On AT&T

A number of large investors have recently made changes to their positions in the company. Riggs Asset Managment Co. Inc. raised its stake in AT&T by 356.5% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after purchasing an additional 1,116 shares in the last quarter. Pineridge Advisors LLC bought a new position in shares of AT&T during the fourth quarter worth approximately $25,000. Frank Rimerman Advisors LLC acquired a new stake in shares of AT&T in the fourth quarter valued at approximately $25,000. American Capital Advisory LLC boosted its stake in shares of AT&T by 107.5% in the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after buying an additional 807 shares during the period. Finally, Altshuler Shaham Ltd acquired a new stake in AT&T during the second quarter worth approximately $30,000. Institutional investors own 57.10% of the company’s stock.

About AT&T

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.