Barclays Raises AT&T (NYSE:T) Price Target to $24.00

AT&T (NYSE:T) had its price objective hoisted by Barclays from $22.00 to $24.00 in a research report report published on Thursday, Benzinga reports. They currently have an overweight rating on the technology company’s stock.

A number of other equities analysts have also commented on the company. Tigress Financial raised 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. Evercore ISI lifted their target price on shares of AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a research note on Thursday, July 25th. Scotiabank downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. The Goldman Sachs Group started coverage on AT&T in a research note on Monday, July 1st. They issued a “buy” rating and a $22.00 target price on the stock. Finally, Royal Bank of Canada raised their price target on shares of AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $23.40.

AT&T Trading Down 1.7 %

Shares of AT&T stock opened at $21.83 on Thursday. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $156.52 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 3.67 and a beta of 0.60. The firm’s 50-day moving average price is $21.20 and its two-hundred day moving average price is $19.15. AT&T has a 12-month low of $14.74 and a 12-month high of $22.58.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The firm had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. During the same period last year, the firm posted $0.64 earnings per share. The business’s revenue for the quarter was down .5% on a year-over-year basis. On average, analysts forecast that AT&T will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be issued a dividend of $0.2775 per share. The ex-dividend date is Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.08%. AT&T’s dividend payout ratio (DPR) is 59.68%.

Institutional Investors Weigh In On AT&T

Several large investors have recently bought and sold shares of the business. Davidson Kempner Capital Management LP bought a new stake in shares of AT&T in the 2nd quarter valued at approximately $23,888,000. Talbot Financial LLC purchased a new position in AT&T during the third quarter worth $7,438,000. Mackenzie Financial Corp increased its position in AT&T by 12.2% during the second quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock valued at $50,486,000 after acquiring an additional 288,093 shares during the last quarter. DRW Securities LLC raised its stake in shares of AT&T by 642.2% in the second quarter. DRW Securities LLC now owns 104,309 shares of the technology company’s stock valued at $1,997,000 after acquiring an additional 90,255 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of AT&T by 4.3% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 1,037,529 shares of the technology company’s stock worth $19,827,000 after acquiring an additional 43,062 shares during the last quarter. 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.