AT&T (NYSE:T) Price Target Raised to $24.00 at Oppenheimer

AT&T (NYSE:T) had its price target lifted by Oppenheimer from $23.00 to $24.00 in a report published on Thursday, Benzinga reports. Oppenheimer currently has an outperform rating on the technology company’s stock.

T has been the subject of several other research reports. Royal Bank of Canada raised their price target on shares of AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. Scotiabank downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a research report on Monday, September 16th. Moffett Nathanson lifted their target price on shares of AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Finally, TD Cowen lifted their target price on shares of AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $23.40.

AT&T Price Performance

Shares of T opened at $21.83 on Thursday. The company has a market capitalization of $156.52 billion, a P/E ratio of 11.74, a price-to-earnings-growth ratio of 3.67 and a beta of 0.60. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. The firm has a 50 day moving average of $21.20 and a 200 day moving average of $19.13. AT&T has a twelve month low of $14.74 and a twelve month high of $22.58.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.03. The company had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.64 earnings per share. As a group, equities research analysts anticipate that AT&T will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 5.08%. The ex-dividend date is Thursday, October 10th. AT&T’s dividend payout ratio is presently 59.68%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Strategic Financial Concepts LLC increased its holdings in shares of AT&T by 227.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after buying an additional 91,578 shares during the last quarter. Riggs Asset Managment Co. Inc. increased its position in shares of AT&T by 356.5% during the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after acquiring an additional 1,116 shares during the period. American Capital Advisory LLC boosted its stake in shares of AT&T by 107.5% during the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after purchasing an additional 807 shares in the last quarter. Altshuler Shaham Ltd acquired a new stake in AT&T in the second quarter valued at approximately $30,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in AT&T by 176.6% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock valued at $35,000 after acquiring an additional 1,192 shares in the last quarter. 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.