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

AT&T (NYSE:T) had its price objective boosted by Barclays from $24.00 to $27.00 in a report issued on Wednesday morning,Benzinga reports. Barclays currently has an overweight rating on the technology company’s stock.

T has been the topic of several other reports. Scotiabank cut AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Oppenheimer raised their target price on AT&T from $23.00 to $24.00 and gave the company an “outperform” rating in a research note 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. Citigroup raised their target price on AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Finally, Tigress Financial raised their target price on AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, September 27th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, AT&T has a consensus rating of “Moderate Buy” and an average target price of $24.07.

AT&T Stock Down 0.8 %

T stock opened at $23.55 on Wednesday. The firm has a 50 day simple moving average of $22.28 and a 200-day simple moving average of $20.28. AT&T has a twelve month low of $15.94 and a twelve month high of $24.03. The company has a market capitalization of $168.94 billion, a P/E ratio of 19.14, a PEG ratio of 3.41 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 (NYSE:T) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The firm had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. During the same period last year, the business posted $0.64 earnings per share. The firm’s revenue for the quarter was down .5% on a year-over-year basis. On average, equities research analysts predict that AT&T will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date was Thursday, October 10th. AT&T’s payout ratio is currently 90.24%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Davidson Kempner Capital Management LP purchased a new position in AT&T in the 2nd quarter worth about $23,888,000. Swiss National Bank increased its stake in AT&T by 0.5% in the 3rd quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock worth $468,217,000 after purchasing an additional 104,700 shares in the last quarter. Caprock Group LLC increased its stake in AT&T by 18.3% in the 3rd quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock worth $4,312,000 after purchasing an additional 30,281 shares in the last quarter. Talbot Financial LLC purchased a new position in AT&T during the 3rd quarter valued at about $7,438,000. Finally, Mackenzie Financial Corp grew its stake in AT&T by 12.2% during the 2nd quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock valued at $50,486,000 after acquiring an additional 288,093 shares in the last quarter. 57.10% of the stock is 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.