AT&T (NYSE:T) PT Raised to $23.00

AT&T (NYSE:T) had its price objective increased by Oppenheimer from $21.00 to $23.00 in a research note published on Thursday morning, Benzinga reports. Oppenheimer currently has an outperform rating on the technology company’s stock.

A number of other analysts also recently issued reports on T. StockNews.com downgraded AT&T from a buy rating to a hold rating in a research report on Friday, May 3rd. The Goldman Sachs Group initiated coverage on AT&T in a research report on Monday, July 1st. They issued a buy rating and a $22.00 target price for the company. Scotiabank boosted their price objective on AT&T from $22.50 to $23.00 and gave the stock a sector outperform rating in a research report on Wednesday, July 10th. Royal Bank of Canada restated a sector perform rating and set a $18.00 target price on shares of AT&T in a research note on Wednesday, July 10th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on AT&T from $24.00 to $26.00 and gave the company a buy rating in a research note on Friday, June 28th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $22.33.

AT&T Trading Down 0.9 %

Shares of NYSE:T opened at $19.01 on Thursday. The business’s 50 day moving average price is $18.32 and its 200-day moving average price is $17.47. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.63. The firm has a market capitalization of $136.30 billion, a price-to-earnings ratio of 10.22, a price-to-earnings-growth ratio of 3.65 and a beta of 0.58. AT&T has a 1 year low of $13.89 and a 1 year high of $19.74.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.57. The company had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The firm’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter last year, the firm posted $0.63 EPS. On average, equities research analysts forecast that AT&T will post 2.21 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 5.84%. The ex-dividend date of this dividend is Wednesday, July 10th. AT&T’s dividend payout ratio (DPR) is 59.68%.

Institutional Trading of AT&T

Several large investors have recently bought and sold shares of T. Frank Rimerman Advisors LLC purchased a new stake in shares of AT&T in the fourth quarter valued at $25,000. Pineridge Advisors LLC purchased a new position in AT&T during the fourth quarter worth about $25,000. First Pacific Financial lifted its position in AT&T by 166.7% during the first quarter. First Pacific Financial now owns 1,600 shares of the technology company’s stock worth $28,000 after buying an additional 1,000 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in AT&T by 176.6% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock worth $35,000 after buying an additional 1,192 shares during the period. Finally, Farmers & Merchants Trust Co of Chambersburg PA lifted its position in AT&T by 35.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock worth $39,000 after buying an additional 606 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Company Profile

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.