AT&T Inc. (NYSE:T) Receives $23.40 Average PT from Analysts

Shares of AT&T Inc. (NYSE:T) have been assigned a consensus rating of “Moderate Buy” from the nineteen ratings firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, seven have given a hold recommendation, ten have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $23.40.

Several analysts have issued reports on the stock. Evercore ISI raised their price objective on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research note on Thursday, October 24th. Moffett Nathanson boosted their price objective on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $22.00 price objective on shares of AT&T in a research report on Thursday, October 24th. Oppenheimer lifted their target price on AT&T from $23.00 to $24.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Barclays upped their price target on shares of AT&T from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th.

AT&T Stock Performance

NYSE:T opened at $23.18 on Tuesday. The firm has a market capitalization of $166.32 billion, a PE ratio of 18.85, a PEG ratio of 3.45 and a beta of 0.59. The stock’s fifty day moving average is $22.02 and its 200 day moving average is $19.94. AT&T has a fifty-two week low of $15.94 and a fifty-two week high of $23.29. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73.

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

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were given a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.79%. The ex-dividend date was Thursday, October 10th. AT&T’s payout ratio is 90.24%.

Hedge Funds Weigh In On AT&T

Large investors have recently added to or reduced their stakes in the company. Chesapeake Wealth Management grew its stake in shares of AT&T by 1.9% during the 3rd quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock worth $535,000 after purchasing an additional 460 shares during the period. Socha Financial Group LLC grew its position in AT&T by 2.5% during the third quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock worth $415,000 after buying an additional 461 shares during the period. Garden State Investment Advisory Services LLC increased its holdings in AT&T by 1.4% in the third quarter. Garden State Investment Advisory Services LLC now owns 34,468 shares of the technology company’s stock valued at $759,000 after buying an additional 468 shares in the last quarter. Essex Savings Bank increased its holdings in AT&T by 2.3% in the third quarter. Essex Savings Bank now owns 21,636 shares of the technology company’s stock valued at $476,000 after buying an additional 480 shares in the last quarter. Finally, Hayek Kallen Investment Management lifted its position in shares of AT&T by 0.8% during the 3rd quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company’s stock valued at $1,326,000 after acquiring an additional 500 shares during the period. 57.10% of the stock is currently owned by institutional investors.

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.