AT&T (NYSE:T) Price Target Raised to $26.00

AT&T (NYSE:T) had its price target lifted by Citigroup from $24.00 to $26.00 in a report issued on Wednesday,Benzinga reports. They currently have a buy rating on the technology company’s stock.

Several other research firms also recently issued reports on T. Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Wells Fargo & Company dropped their target price on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Barclays lifted their price objective on AT&T from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Tigress Financial lifted their price objective on AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Finally, Moffett Nathanson lifted their price objective on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, AT&T has an average rating of “Moderate Buy” and an average price target of $23.53.

AT&T Trading Up 0.8 %

Shares of NYSE T opened at $23.27 on Wednesday. AT&T has a 12 month low of $15.94 and a 12 month high of $23.38. The company has a market cap of $166.97 billion, a price-to-earnings ratio of 18.92, a P/E/G ratio of 3.47 and a beta of 0.59. 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 business has a fifty day simple moving average of $22.10 and a 200-day simple moving average of $20.07.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The firm had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. During the same period in the previous year, the firm earned $0.64 earnings per share. AT&T’s quarterly revenue was down .5% on a year-over-year basis. Sell-side analysts predict that AT&T will post 2.22 EPS for the current year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.77%. AT&T’s dividend payout ratio is currently 90.24%.

Institutional Trading of AT&T

Several institutional investors and hedge funds have recently bought and sold shares of T. Strategic Financial Concepts LLC increased its stake in shares of AT&T by 227.6% during the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after purchasing an additional 91,578 shares during the period. Legacy Investment Solutions LLC bought a new position in shares of AT&T during the third quarter worth approximately $25,000. Riggs Asset Managment Co. Inc. increased its stake in shares of AT&T by 356.5% during the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after purchasing an additional 1,116 shares during the period. Ritter Daniher Financial Advisory LLC DE grew its position in AT&T by 169.2% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after buying an additional 841 shares in the last quarter. Finally, American Capital Advisory LLC grew its position in AT&T by 107.5% during the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after buying an additional 807 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

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.