Tigress Financial Issues Positive Forecast for AT&T (NYSE:T) Stock Price

AT&T (NYSE:T) had its price objective hoisted by Tigress Financial from $30.00 to $32.00 in a report published on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

T has been the topic of a number of other research reports. Scotiabank increased their price target on AT&T from $24.00 to $26.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, January 28th. Royal Bank of Canada increased their price target on AT&T from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. UBS Group increased their price target on AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. increased their price target on AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Finally, Wells Fargo & Company reduced their price target on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.21.

AT&T Price Performance

Shares of NYSE:T opened at $24.26 on Tuesday. The business’s fifty day moving average price is $22.94 and its two-hundred day moving average price is $21.70. The stock has a market cap of $174.05 billion, a PE ratio of 16.28, a price-to-earnings-growth ratio of 2.71 and a beta of 0.59. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. AT&T has a one year low of $15.94 and a one year high of $24.98.

AT&T (NYSE:T) last announced its earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. On average, analysts forecast that AT&T will post 2.15 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were issued a $0.2775 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.58%. AT&T’s dividend payout ratio is currently 74.50%.

Institutional Investors Weigh In On AT&T

A number of hedge funds have recently made changes to their positions in T. Bank of New York Mellon Corp raised its holdings in AT&T by 7.1% during the fourth quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company’s stock worth $1,948,943,000 after purchasing an additional 5,649,277 shares in the last quarter. Geode Capital Management LLC raised its holdings in AT&T by 2.3% during the third quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock worth $3,532,684,000 after purchasing an additional 3,630,972 shares in the last quarter. Franklin Resources Inc. raised its holdings in AT&T by 41.4% during the third quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock worth $168,969,000 after purchasing an additional 2,326,904 shares in the last quarter. National Pension Service raised its holdings in AT&T by 15.8% during the third quarter. National Pension Service now owns 15,769,707 shares of the technology company’s stock worth $346,934,000 after purchasing an additional 2,152,016 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in AT&T by 112.9% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,916,698 shares of the technology company’s stock worth $64,167,000 after purchasing an additional 1,546,679 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Company Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.