AT&T (NYSE:T) Price Target Raised to $32.00

AT&T (NYSE:T) had its price target lifted by Tigress Financial from $30.00 to $32.00 in a research report report published on Tuesday,Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

Other research analysts also recently issued reports about the company. Argus raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Thursday, January 16th. UBS Group increased their price objective on AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Scotiabank increased their price objective on AT&T from $24.00 to $26.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, January 28th. Citigroup increased their price objective on AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Oppenheimer began coverage on AT&T in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price objective for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, AT&T has a consensus rating of “Moderate Buy” and an average price target of $26.21.

AT&T Stock Down 0.1 %

T stock opened at $24.46 on Tuesday. The stock’s 50 day simple moving average is $22.99 and its 200 day simple moving average is $21.75. AT&T has a fifty-two week low of $15.94 and a fifty-two week high of $24.98. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. The company has a market cap of $175.47 billion, a P/E ratio of 16.41, a price-to-earnings-growth ratio of 2.71 and a beta of 0.59.

AT&T (NYSE:T) last posted its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. On average, research analysts expect that AT&T will post 2.15 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.54%. The ex-dividend date of this dividend was Friday, January 10th. AT&T’s dividend payout ratio (DPR) is 74.50%.

Hedge Funds Weigh In On AT&T

Institutional investors and hedge funds have recently bought and sold shares of the company. Assetmark Inc. boosted its holdings in shares of AT&T by 4,986.1% in the fourth quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company’s stock worth $225,741,000 after acquiring an additional 9,719,036 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of AT&T by 7.1% in the fourth quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company’s stock worth $1,948,943,000 after acquiring an additional 5,649,277 shares during the period. Geode Capital Management LLC boosted its holdings in shares of AT&T by 2.3% in the third quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock worth $3,532,684,000 after acquiring an additional 3,630,972 shares during the period. Franklin Resources Inc. boosted its holdings in shares of AT&T by 41.4% in the third quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock worth $168,969,000 after acquiring an additional 2,326,904 shares during the period. Finally, National Pension Service boosted its holdings in shares of AT&T by 15.8% in the third quarter. National Pension Service now owns 15,769,707 shares of the technology company’s stock worth $346,934,000 after acquiring an additional 2,152,016 shares during the period. 57.10% of the stock is owned by institutional investors.

AT&T Company Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.