Deutsche Bank Aktiengesellschaft Boosts AT&T (NYSE:T) Price Target to $26.00

AT&T (NYSE:T) had its target price increased by Deutsche Bank Aktiengesellschaft from $24.00 to $26.00 in a research report report published on Friday, Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

T has been the subject of a number of other reports. UBS Group reaffirmed a buy rating and set a $24.00 price target on shares of AT&T in a report on Tuesday, June 18th. Wolfe Research raised AT&T from a peer perform rating to an outperform rating and set a $21.00 target price for the company in a research note on Tuesday, March 5th. Royal Bank of Canada reissued a sector perform rating and issued a $17.00 target price on shares of AT&T in a research note on Thursday, April 11th. Oppenheimer reissued an outperform rating and issued a $21.00 target price on shares of AT&T in a research note on Tuesday, June 25th. Finally, StockNews.com cut AT&T from a buy rating to a hold rating in a research note on Friday, May 3rd. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, AT&T presently has a consensus rating of Moderate Buy and an average price target of $21.71.

AT&T Price Performance

Shares of T stock opened at $19.11 on Friday. The stock has a 50 day moving average of $17.57 and a two-hundred day moving average of $17.18. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.06. AT&T has a 12 month low of $13.43 and a 12 month high of $19.13. The company has a market capitalization of $137.02 billion, a P/E ratio of 10.27, a P/E/G ratio of 4.34 and a beta of 0.60.

AT&T (NYSE:T) last issued its earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The business had revenue of $30.03 billion during the quarter, compared to analysts’ expectations of $30.62 billion. During the same period in the prior year, the firm posted $0.60 EPS. AT&T’s quarterly revenue was down .4% compared to the same quarter last year. As a group, equities analysts expect that AT&T will post 2.24 EPS for the current year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.81%. The ex-dividend date is Wednesday, July 10th. AT&T’s dividend payout ratio is presently 59.68%.

Institutional Investors Weigh In On AT&T

Institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new stake in AT&T during the fourth quarter worth $1,118,288,000. Ameriprise Financial Inc. lifted its stake in AT&T by 185.6% during the third quarter. Ameriprise Financial Inc. now owns 52,613,513 shares of the technology company’s stock worth $790,301,000 after purchasing an additional 34,189,954 shares during the last quarter. Thornburg Investment Management Inc. bought a new stake in AT&T during the fourth quarter worth $316,472,000. Kodai Capital Management LP bought a new stake in AT&T during the fourth quarter worth $152,109,000. Finally, Point72 Asset Management L.P. lifted its stake in AT&T by 120.8% during the fourth quarter. Point72 Asset Management L.P. now owns 9,086,854 shares of the technology company’s stock worth $152,477,000 after purchasing an additional 4,970,954 shares during 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.