AT&T (NYSE:T) Price Target Raised to $27.00

AT&T (NYSE:T) had its price objective raised by Barclays from $24.00 to $27.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

A number of other equities analysts have also weighed in on T. Scotiabank lowered AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Citigroup boosted their price objective on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Royal Bank of Canada restated a “sector perform” rating and issued a $22.00 target price on shares of AT&T in a report on Thursday, October 24th. Oppenheimer boosted their target price on shares of AT&T from $23.00 to $24.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, Tigress Financial increased their price target on AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a report on Friday, September 27th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $24.73.

AT&T Trading Up 0.2 %

NYSE:T opened at $23.88 on Wednesday. AT&T has a 52 week low of $15.94 and a 52 week high of $24.03. The stock has a market cap of $171.35 billion, a price-to-earnings ratio of 19.41, a PEG ratio of 3.56 and a beta of 0.59. The company’s 50 day moving average price is $22.32 and its 200-day moving average price is $20.30. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T) last posted its 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 13.97% and a net margin of 7.42%. The business had revenue of $30.20 billion during the quarter, compared to analyst estimates of $30.50 billion. During the same quarter last year, the company earned $0.64 EPS. The company’s quarterly revenue was down .5% compared to the same quarter last year. On average, equities research analysts forecast that AT&T will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were issued a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.65%. AT&T’s dividend payout ratio (DPR) is 90.24%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of T. Chesapeake Wealth Management increased its stake in AT&T by 1.9% in the third quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock valued at $535,000 after purchasing an additional 460 shares during the last quarter. Socha Financial Group LLC lifted its position in AT&T by 2.5% in the third quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock valued at $415,000 after acquiring an additional 461 shares during the last quarter. Garden State Investment Advisory Services LLC boosted its stake in AT&T by 1.4% in the third quarter. Garden State Investment Advisory Services LLC now owns 34,468 shares of the technology company’s stock valued at $759,000 after acquiring an additional 468 shares in the last quarter. Essex Savings Bank grew its holdings in shares of AT&T by 2.3% during the third quarter. Essex Savings Bank now owns 21,636 shares of the technology company’s stock worth $476,000 after purchasing an additional 480 shares during the last quarter. Finally, Hayek Kallen Investment Management increased its position in shares of AT&T by 0.8% during the third quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company’s stock worth $1,326,000 after purchasing an additional 500 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.