AT&T (NYSE:T) Given New $24.00 Price Target at Oppenheimer

AT&T (NYSE:T) had its target price raised by Oppenheimer from $23.00 to $24.00 in a report released on Thursday morning, Benzinga reports. They currently have an outperform rating on the technology company’s stock.

T has been the subject of a number of other research reports. Evercore ISI upped their target price on AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a report on Thursday, July 25th. Barclays upped their target price on AT&T from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday. Moffett Nathanson upped their target price on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Royal Bank of Canada upped their target price on AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25th. Finally, Tigress Financial upped their target price on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, September 27th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and an average target price of $23.40.

AT&T Price Performance

AT&T stock opened at $21.83 on Thursday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. AT&T has a 52 week low of $14.74 and a 52 week high of $22.58. The stock has a market capitalization of $156.52 billion, a P/E ratio of 11.74, a price-to-earnings-growth ratio of 3.67 and a beta of 0.60. The stock has a fifty day moving average of $21.20 and a 200-day moving average of $19.15.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping 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 company had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. During the same quarter in the previous year, the firm earned $0.64 EPS. AT&T’s revenue was down .5% on a year-over-year basis. On average, sell-side analysts expect that AT&T will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be given 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 payout ratio is 59.68%.

Institutional Investors Weigh In On AT&T

Several institutional investors and hedge funds have recently made changes to their positions in T. Davidson Kempner Capital Management LP acquired a new position in AT&T during the 2nd quarter worth approximately $23,888,000. Talbot Financial LLC acquired a new position in AT&T during the 3rd quarter worth approximately $7,438,000. Mackenzie Financial Corp raised its stake in 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 buying an additional 288,093 shares during the period. DRW Securities LLC raised its stake in 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 buying an additional 90,255 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its stake in 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 buying an additional 43,062 shares during the period. 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.