AT&T (NYSE:T) PT Raised to $26.00

AT&T (NYSE:T) had its price objective hoisted by Deutsche Bank Aktiengesellschaft from $24.00 to $26.00 in a research note released on Friday morning, Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

Several other research firms have also commented on T. StockNews.com lowered AT&T from a buy rating to a hold rating in a research report on Friday, May 3rd. Wolfe Research raised AT&T from a peer perform rating to an outperform rating and set a $21.00 target price for the company in a research report on Tuesday, March 5th. Oppenheimer reissued an outperform rating and set a $21.00 price target on shares of AT&T in a research report on Tuesday. Barclays upgraded shares of AT&T from an equal weight rating to an overweight rating and set a $20.00 price objective for the company in a report on Monday, April 29th. Finally, UBS Group reiterated a buy rating and set a $24.00 target price on shares of AT&T in a report on Tuesday, June 18th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, AT&T has an average rating of Moderate Buy and a consensus price target of $21.71.

AT&T Stock Up 2.0 %

Shares of T opened at $19.13 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.06. The firm has a market cap of $137.17 billion, a P/E ratio of 10.28, a price-to-earnings-growth ratio of 4.26 and a beta of 0.60. The company’s 50-day moving average price is $17.57 and its 200 day moving average price is $17.17. AT&T has a 12-month low of $13.43 and a 12-month high of $19.13.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The business had revenue of $30.03 billion for the quarter, compared to the consensus estimate of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The business’s revenue was down .4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.60 EPS. On average, sell-side analysts forecast that AT&T will post 2.24 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be issued a $0.2775 dividend. The ex-dividend date is Wednesday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.80%. AT&T’s payout ratio is currently 59.68%.

Institutional Trading of AT&T

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in AT&T by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock worth $10,999,912,000 after buying an additional 2,588,539 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of AT&T by 5.6% in the 1st quarter. Bank of New York Mellon Corp now owns 75,484,518 shares of the technology company’s stock valued at $1,328,528,000 after acquiring an additional 4,014,873 shares during the period. Norges Bank purchased a new stake in AT&T in the 4th quarter valued at $1,118,288,000. Ameriprise Financial Inc. boosted its stake in AT&T by 185.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 52,613,513 shares of the technology company’s stock worth $790,301,000 after purchasing an additional 34,189,954 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in AT&T by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 50,589,421 shares of the technology company’s stock worth $848,888,000 after purchasing an additional 798,024 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

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.