AT&T (NYSE:T) Stock Price Expected to Rise, Sanford C. Bernstein Analyst Says

AT&T (NYSE:T) had its target price lifted by Sanford C. Bernstein from $28.00 to $29.00 in a report released on Tuesday,Benzinga reports. They currently have an outperform rating on the technology company’s stock.

Several other analysts also recently commented on T. Citigroup boosted their target price on shares of AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. The Goldman Sachs Group boosted their target price on shares of AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Oppenheimer initiated coverage on shares of AT&T in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price objective for the company. Morgan Stanley upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $19.00 to $28.00 in a research note on Monday, December 16th. Finally, Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $26.06.

AT&T Stock Performance

T stock opened at $24.43 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $175.26 billion, a price-to-earnings ratio of 19.86, a P/E/G ratio of 3.50 and a beta of 0.59. AT&T has a 12 month low of $15.94 and a 12 month high of $24.58. The firm has a 50 day moving average of $22.83 and a two-hundred day moving average of $21.51.

AT&T (NYSE:T) last posted its earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 7.42% and a return on equity of 13.97%. As a group, equities analysts anticipate that AT&T will post 2.21 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders 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 dividend yield of 4.54%. The ex-dividend date is Friday, January 10th. AT&T’s dividend payout ratio is 90.24%.

Hedge Funds Weigh In On AT&T

Hedge funds have recently made changes to their positions in the business. Legacy Investment Solutions LLC bought a new stake in shares of AT&T in the 3rd quarter worth about $25,000. YANKCOM Partnership bought a new stake in shares of AT&T in the 4th quarter worth about $30,000. Ritter Daniher Financial Advisory LLC DE grew its holdings in shares of AT&T by 169.2% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after purchasing an additional 841 shares during the last quarter. Endeavor Private Wealth Inc. bought a new stake in shares of AT&T in the 4th quarter worth about $34,000. Finally, Safe Harbor Fiduciary LLC bought a new stake in shares of AT&T in the 3rd quarter worth about $35,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

About AT&T

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.