AT&T (NYSE:T) Price Target Raised to $30.00

AT&T (NYSE:T) had its price target raised by UBS Group from $25.00 to $30.00 in a report issued on Thursday,Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

T has been the topic of several other research reports. New Street Research upgraded shares of AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 3rd. Barclays increased their target price on shares of AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Wells Fargo & Company cut their price target on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Morgan Stanley upgraded AT&T from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $19.00 to $28.00 in a research report on Monday, December 16th. Finally, Tigress Financial boosted their price objective on AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, September 27th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $25.53.

AT&T Price Performance

Shares of T stock opened at $22.75 on Thursday. The company has a market capitalization of $163.24 billion, a P/E ratio of 18.50, a P/E/G ratio of 3.60 and a beta of 0.59. The company’s 50-day simple moving average is $22.61 and its two-hundred day simple moving average is $20.74. AT&T has a one year low of $15.94 and a one year high of $24.03. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share 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 for the quarter, compared to the consensus estimate of $30.50 billion. During the same quarter last year, the company earned $0.64 earnings per share. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, equities analysts anticipate that AT&T will post 2.19 EPS for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be paid a $0.2775 dividend. The ex-dividend date is Friday, January 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.88%. AT&T’s dividend payout ratio is presently 90.24%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of T. Mercer Global Advisors Inc. ADV grew its stake in shares of AT&T by 1,379.0% during the second quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock valued at $270,581,000 after purchasing an additional 13,201,774 shares during the last quarter. AQR Capital Management LLC boosted its position in AT&T by 43.3% in the 2nd quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock valued at $414,563,000 after buying an additional 6,602,586 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of AT&T by 7.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock valued at $1,549,375,000 after buying an additional 5,592,123 shares during the period. Thornburg Investment Management Inc. raised its position in shares of AT&T by 22.0% during the second quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock worth $477,528,000 after acquiring an additional 4,511,725 shares during the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new position in shares of AT&T during the second quarter valued at $78,570,000. 57.10% of the stock is owned by institutional investors and hedge funds.

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.