AT&T (NYSE:T) Coverage Initiated by Analysts at Sanford C. Bernstein

Sanford C. Bernstein initiated coverage on shares of AT&T (NYSE:T) in a report released on Tuesday morning, MarketBeat reports. The firm issued an outperform rating and a $28.00 target price on the technology company’s stock.

T has been the subject of a number of other reports. Tigress Financial upped their target price on shares of AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a research note on Monday, September 16th. Citigroup lifted their price target on AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Barclays upped their price objective on shares of AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $25.00.

AT&T Trading Up 0.7 %

Shares of NYSE T opened at $23.53 on Tuesday. AT&T has a twelve month low of $15.94 and a twelve month high of $24.03. The stock has a market cap of $168.80 billion, a price-to-earnings ratio of 19.11, a P/E/G ratio of 3.63 and a beta of 0.59. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The company’s fifty day moving average is $22.39 and its 200-day moving average is $20.43.

AT&T (NYSE:T) last posted its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The firm had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. During the same period in the previous year, the company posted $0.64 earnings per share. The company’s revenue for the quarter was down .5% on a year-over-year basis. Equities research analysts predict that AT&T will post 2.19 EPS for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.72%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s payout ratio is 90.24%.

Institutional Trading of AT&T

Hedge funds have recently added to or reduced their stakes in the stock. Strategic Financial Concepts LLC increased its stake in shares of AT&T by 227.6% in the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after buying an additional 91,578 shares during the period. Legacy Investment Solutions LLC bought a new position in shares of AT&T during the third quarter valued at $25,000. Riggs Asset Managment Co. Inc. lifted its holdings in shares of AT&T by 356.5% during the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after purchasing an additional 1,116 shares during the period. Ritter Daniher Financial Advisory LLC DE grew its stake in shares of AT&T by 169.2% in the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after purchasing an additional 841 shares during the last quarter. Finally, American Capital Advisory LLC increased its holdings in AT&T by 107.5% in the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after purchasing an additional 807 shares during the period. 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.