Barclays Boosts AT&T (NYSE:T) Price Target to $24.00

AT&T (NYSE:T) had its price objective boosted by Barclays from $22.00 to $24.00 in a research note published on Thursday morning, Benzinga reports. They currently have an overweight rating on the technology company’s stock.

Several other brokerages have also commented on T. Deutsche Bank Aktiengesellschaft lifted their target price on AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Redburn Atlantic upgraded AT&T to a “strong sell” rating in a research note on Monday, September 16th. JPMorgan Chase & Co. upped their target price on shares of AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Oppenheimer increased their price objective on shares of AT&T from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Citigroup lifted their price objective on shares of AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $23.40.

AT&T Trading Down 1.7 %

NYSE:T opened at $21.83 on Thursday. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. The firm has a market cap of $156.52 billion, a P/E ratio of 11.74, a PEG ratio of 3.67 and a beta of 0.60. The stock’s 50 day simple moving average is $21.20 and its 200-day simple moving average is $19.13. AT&T has a 12-month low of $14.74 and a 12-month high of $22.58.

AT&T (NYSE:T) last posted its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The firm had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. During the same quarter in the prior year, the company earned $0.64 EPS. AT&T’s revenue was down .5% on a year-over-year basis. Equities analysts anticipate that AT&T will post 2.22 EPS for the current year.

AT&T Announces Dividend

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

Institutional Investors Weigh In On AT&T

Several large investors have recently made changes to their positions in T. Wealthcare Advisory Partners LLC raised its stake in AT&T by 9.0% in the first quarter. Wealthcare Advisory Partners LLC now owns 73,404 shares of the technology company’s stock valued at $1,292,000 after buying an additional 6,064 shares during the period. 180 Wealth Advisors LLC grew its stake in shares of AT&T by 1.9% in the first quarter. 180 Wealth Advisors LLC now owns 63,605 shares of the technology company’s stock valued at $1,119,000 after acquiring an additional 1,171 shares in the last quarter. Cypress Wealth Services LLC grew its holdings in shares of AT&T by 11.0% during the 1st quarter. Cypress Wealth Services LLC now owns 12,276 shares of the technology company’s stock worth $216,000 after purchasing an additional 1,220 shares in the last quarter. Hennessy Advisors Inc. lifted its holdings in shares of AT&T by 24.2% during the 1st quarter. Hennessy Advisors Inc. now owns 321,660 shares of the technology company’s stock worth $5,661,000 after acquiring an additional 62,700 shares during the period. Finally, Fifth Third Wealth Advisors LLC bought a new stake in shares of AT&T during the 1st quarter worth $782,000. 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.