AT&T (NYSE:T) Price Target Raised to $28.00

AT&T (NYSE:T) had its price target increased by JPMorgan Chase & Co. from $25.00 to $28.00 in a research note released on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the technology company’s stock.

Several other brokerages have also recently commented on T. Barclays upped their target price on AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday. Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. New Street Research raised shares of AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday. Moffett Nathanson upped their price target on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Finally, Tigress Financial increased their price target on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, September 27th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $24.73.

AT&T Stock Up 0.2 %

Shares of NYSE T opened at $23.88 on Wednesday. The company 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 has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. AT&T has a 12 month low of $15.94 and a 12 month high of $24.03. The stock has a 50-day moving average price of $22.32 and a two-hundred day moving average price of $20.30.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating 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 company had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. During the same period in the prior year, the company earned $0.64 EPS. AT&T’s revenue was down .5% compared to the same quarter last year. As a group, analysts forecast that AT&T will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Inspire Trust Co. N.A. lifted its stake in shares of AT&T by 19.7% during the 3rd quarter. Inspire Trust Co. N.A. now owns 140,000 shares of the technology company’s stock valued at $3,080,000 after buying an additional 23,000 shares in the last quarter. Franklin Resources Inc. raised its holdings in AT&T by 41.4% during the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock valued at $168,969,000 after acquiring an additional 2,326,904 shares during the period. Tidal Investments LLC lifted its position in shares of AT&T by 1.7% during the third quarter. Tidal Investments LLC now owns 640,725 shares of the technology company’s stock worth $14,096,000 after acquiring an additional 10,954 shares in the last quarter. Destination Wealth Management bought a new position in shares of AT&T in the third quarter worth $240,000. Finally, Wilmington Savings Fund Society FSB grew its position in shares of AT&T by 386.1% in the third quarter. Wilmington Savings Fund Society FSB now owns 266,565 shares of the technology company’s stock valued at $5,864,000 after purchasing an additional 211,723 shares in the last quarter. Hedge funds and other institutional investors 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.