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

AT&T (NYSE:T) had its price objective increased by Oppenheimer from $24.00 to $27.00 in a research report sent to investors on Wednesday,Benzinga reports. Oppenheimer currently has an outperform rating on the technology company’s stock.

T has been the subject of several other research reports. Barclays raised their price objective on shares of AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday. Evercore ISI raised their price target on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a report on Thursday, October 24th. Wells Fargo & Company dropped their price objective on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Moffett Nathanson raised their target price on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Finally, Hsbc Global Res raised AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $24.73.

AT&T Stock Performance

Shares of T opened at $23.88 on Wednesday. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The firm’s fifty day simple moving average is $22.32 and its two-hundred day simple moving average is $20.30. AT&T has a 12 month low of $15.94 and a 12 month high of $24.03. The stock has a market capitalization of $171.35 billion, a P/E ratio of 19.41, a price-to-earnings-growth ratio of 3.56 and a beta of 0.59.

AT&T (NYSE:T) last announced its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. The company had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.64 EPS. As a group, analysts predict that AT&T will post 2.22 EPS for the current year.

AT&T Dividend Announcement

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

Hedge Funds Weigh In On AT&T

A number of hedge funds and other institutional investors have recently modified their holdings of T. Inspire Trust Co. N.A. increased its position in shares of AT&T by 19.7% during the third quarter. Inspire Trust Co. N.A. now owns 140,000 shares of the technology company’s stock valued at $3,080,000 after acquiring an additional 23,000 shares during the last quarter. Franklin Resources Inc. grew its stake in AT&T by 41.4% in the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock valued at $168,969,000 after purchasing an additional 2,326,904 shares during the period. Tidal Investments LLC grew its stake in AT&T by 1.7% in the 3rd quarter. Tidal Investments LLC now owns 640,725 shares of the technology company’s stock valued at $14,096,000 after purchasing an additional 10,954 shares during the period. Destination Wealth Management purchased a new stake in shares of AT&T during the 3rd quarter valued at $240,000. Finally, Wilmington Savings Fund Society FSB raised its stake in shares of AT&T by 386.1% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 266,565 shares of the technology company’s stock worth $5,864,000 after purchasing an additional 211,723 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

About AT&T

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.