The Goldman Sachs Group assumed coverage on shares of AT&T (NYSE:T – Free Report) in a report issued on Monday, MarketBeat reports. The brokerage issued a buy rating and a $22.00 price objective on the technology company’s stock.
Other research analysts also recently issued reports about the company. Oppenheimer reiterated an outperform rating and set a $21.00 price objective on shares of AT&T in a report on Tuesday, June 25th. Scotiabank increased their price objective on AT&T from $22.00 to $22.50 and gave the stock a sector outperform rating in a report on Thursday, April 25th. BNP Paribas upgraded AT&T from an underperform rating to a neutral rating in a report on Tuesday, June 11th. Wolfe Research upgraded AT&T from a peer perform rating to an outperform rating and set a $21.00 price objective for the company in a report on Tuesday, March 5th. Finally, Royal Bank of Canada reiterated a sector perform rating and set a $17.00 price objective on shares of AT&T in a report on Thursday, April 11th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, AT&T presently has an average rating of Moderate Buy and a consensus target price of $21.73.
Read Our Latest Stock Analysis on AT&T
AT&T Trading Down 0.7 %
AT&T (NYSE:T – Get Free Report) last released its earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.02. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The firm had revenue of $30.03 billion for the quarter, compared to analyst estimates of $30.62 billion. During the same quarter in the prior year, the firm posted $0.60 earnings per share. The company’s quarterly revenue was down .4% on a year-over-year basis. On average, equities analysts expect that AT&T will post 2.24 earnings per share for the current year.
AT&T Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 5.85%. The ex-dividend date is Wednesday, July 10th. AT&T’s dividend payout ratio is 59.68%.
Institutional Investors Weigh In On AT&T
A number of hedge funds have recently made changes to their positions in T. Adage Capital Partners GP L.L.C. raised its stake in AT&T by 12.4% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 7,107,839 shares of the technology company’s stock valued at $106,760,000 after acquiring an additional 785,100 shares during the period. Lido Advisors LLC grew its holdings in AT&T by 3.4% during the 3rd quarter. Lido Advisors LLC now owns 313,247 shares of the technology company’s stock valued at $4,705,000 after buying an additional 10,287 shares in the last quarter. Legacy Advisors LLC purchased a new position in AT&T during the 3rd quarter valued at about $421,000. Lakeshore Financial Planning Inc. purchased a new position in AT&T during the 3rd quarter valued at about $186,000. Finally, LaSalle St. Investment Advisors LLC grew its holdings in AT&T by 28.6% during the 3rd quarter. LaSalle St. Investment Advisors LLC now owns 14,324 shares of the technology company’s stock valued at $215,000 after buying an additional 3,183 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.
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.
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