AT&T (NYSE:T) Price Target Raised to $23.00

AT&T (NYSE:T) had its price target boosted by Scotiabank from $22.50 to $23.00 in a research report report published on Wednesday, Benzinga reports. They currently have a sector outperform rating on the technology company’s stock.

A number of other analysts have also recently commented on T. BNP Paribas raised shares of AT&T from an underperform rating to a neutral rating in a research note on Tuesday, June 11th. UBS Group reissued a buy rating and set a $24.00 target price on shares of AT&T in a research note on Tuesday, June 18th. Royal Bank of Canada reissued a sector perform rating and set a $18.00 target price on shares of AT&T in a research note on Wednesday. Oppenheimer reissued an outperform rating and set a $21.00 target price on shares of AT&T in a research note on Tuesday, June 25th. Finally, StockNews.com cut shares of AT&T from a buy rating to a hold rating in a research note on Friday, May 3rd. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, AT&T currently has a consensus rating of Moderate Buy and a consensus price target of $21.85.

AT&T Trading Down 0.3 %

Shares of AT&T stock opened at $18.81 on Wednesday. The firm has a 50-day simple moving average of $17.98 and a two-hundred day simple moving average of $17.33. The company has a market cap of $134.87 billion, a P/E ratio of 10.11, a price-to-earnings-growth ratio of 3.56 and a beta of 0.58. AT&T has a fifty-two week low of $13.43 and a fifty-two week high of $19.32. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.63 and a current ratio of 0.68.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The business had revenue of $30.03 billion during the quarter, compared to the consensus estimate of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The company’s revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.60 earnings per share. As a group, equities analysts predict that AT&T will post 2.23 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.90%. AT&T’s dividend payout ratio is currently 59.68%.

Institutional Investors Weigh In On AT&T

A number of hedge funds have recently added to or reduced their stakes in the business. Retirement Planning Group LLC purchased a new stake in shares of AT&T in the 2nd quarter valued at approximately $251,000. MJP Associates Inc. ADV increased its position in shares of AT&T by 4.6% in the 2nd quarter. MJP Associates Inc. ADV now owns 22,415 shares of the technology company’s stock valued at $428,000 after purchasing an additional 988 shares during the last quarter. Mitchell & Pahl Private Wealth LLC increased its position in shares of AT&T by 2.0% in the 2nd quarter. Mitchell & Pahl Private Wealth LLC now owns 80,347 shares of the technology company’s stock valued at $1,535,000 after purchasing an additional 1,608 shares during the last quarter. Ignite Planners LLC increased its position in shares of AT&T by 4.8% in the 2nd quarter. Ignite Planners LLC now owns 86,086 shares of the technology company’s stock valued at $1,616,000 after purchasing an additional 3,947 shares during the last quarter. Finally, Sound Income Strategies LLC increased its position in shares of AT&T by 4.1% in the 2nd quarter. Sound Income Strategies LLC now owns 1,119,472 shares of the technology company’s stock valued at $21,393,000 after purchasing an additional 44,364 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

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.