AT&T (NYSE:T) Price Target Increased to $25.00 by Analysts at Wells Fargo & Company

AT&T (NYSE:T) had its price objective lifted by Wells Fargo & Company from $22.00 to $25.00 in a research note released on Monday morning, Benzinga reports. The brokerage currently has an overweight rating on the technology company’s stock.

T has been the topic of several other reports. Moffett Nathanson increased their target price on shares of AT&T from $17.00 to $18.00 and gave the stock a neutral rating in a research note on Thursday, August 15th. Citigroup increased their target price on shares of AT&T from $21.00 to $24.00 and gave the stock a buy rating in a research note on Wednesday, September 11th. Evercore ISI raised their price target on shares of AT&T from $18.00 to $19.00 and gave the company an in-line rating in a research note on Thursday, July 25th. Scotiabank lowered shares of AT&T from a strong-buy rating to a hold rating in a research note on Tuesday, August 6th. Finally, JPMorgan Chase & Co. raised their price target on shares of AT&T from $21.00 to $24.00 and gave the company an overweight rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, nine have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, AT&T currently has a consensus rating of Moderate Buy and a consensus price target of $22.69.

AT&T Price Performance

NYSE T opened at $21.26 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’s fifty day moving average price is $20.76 and its 200 day moving average price is $18.86. AT&T has a 1 year low of $14.23 and a 1 year high of $22.34. The company has a market cap of $152.44 billion, a price-to-earnings ratio of 11.43, a PEG ratio of 3.62 and a beta of 0.60.

AT&T (NYSE:T) last released its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The firm had revenue of $29.80 billion for the quarter, compared to the consensus estimate of $30.05 billion. During the same period in the prior year, the firm earned $0.63 EPS. The firm’s revenue was down .3% on a year-over-year basis. As a group, equities research analysts forecast that AT&T will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be given a $0.2775 dividend. The ex-dividend date is Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.22%. AT&T’s dividend payout ratio (DPR) is 59.68%.

Hedge Funds Weigh In On AT&T

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Davidson Kempner Capital Management LP purchased a new stake in shares of AT&T during the 2nd quarter worth approximately $23,888,000. Talbot Financial LLC purchased a new stake in shares of AT&T during the 3rd quarter worth approximately $7,438,000. Mackenzie Financial Corp boosted its stake in shares of AT&T by 12.2% during the 2nd quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock worth $50,486,000 after acquiring an additional 288,093 shares in the last quarter. DRW Securities LLC boosted its stake in shares of AT&T by 642.2% during the 2nd quarter. DRW Securities LLC now owns 104,309 shares of the technology company’s stock worth $1,997,000 after acquiring an additional 90,255 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of AT&T by 4.3% during 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 in the last quarter. Institutional investors and hedge funds 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.