Oppenheimer Initiates Coverage on AT&T (NYSE:T)

Oppenheimer started coverage on shares of AT&T (NYSE:T) in a research report sent to investors on Tuesday morning, Marketbeat.com reports. The brokerage issued an outperform rating and a $28.00 price objective on the technology company’s stock.

A number of other equities research analysts have also weighed in on T. Evercore ISI raised their price target on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. The Goldman Sachs Group raised their target price on AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Citigroup increased their price target on AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, Barclays lifted their price objective on AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $25.00.

AT&T Stock Down 0.5 %

Shares of NYSE T opened at $23.36 on Tuesday. The stock has a fifty day moving average price of $22.44 and a 200 day moving average price of $20.49. 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 has a 12-month low of $15.94 and a 12-month high of $24.03. The company has a market cap of $167.61 billion, a P/E ratio of 19.09, a P/E/G ratio of 3.63 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 business had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company’s revenue was down .5% on a year-over-year basis. During the same period last year, the business posted $0.64 EPS. Research analysts anticipate that AT&T will post 2.19 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.75%. AT&T’s payout ratio is currently 90.24%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Chesapeake Wealth Management lifted its position in shares of AT&T by 1.9% in the third quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock worth $535,000 after purchasing an additional 460 shares in the last quarter. Socha Financial Group LLC increased its stake in AT&T by 2.5% in the 3rd quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock valued at $415,000 after buying an additional 461 shares during the last quarter. Garden State Investment Advisory Services LLC lifted its position in AT&T by 1.4% during the 3rd quarter. Garden State Investment Advisory Services LLC now owns 34,468 shares of the technology company’s stock worth $759,000 after buying an additional 468 shares in the last quarter. Essex Savings Bank boosted its stake in shares of AT&T by 2.3% during the 3rd quarter. Essex Savings Bank now owns 21,636 shares of the technology company’s stock worth $476,000 after buying an additional 480 shares during the last quarter. Finally, Hayek Kallen Investment Management grew its holdings in shares of AT&T by 0.8% in the 3rd quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company’s stock valued at $1,326,000 after acquiring an additional 500 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

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.