AT&T (NYSE:T) Price Target Raised to $30.00

AT&T (NYSE:T) had its price objective upped by Royal Bank of Canada from $28.00 to $30.00 in a report issued on Thursday morning,Benzinga reports. They currently have an outperform rating on the technology company’s stock.

Several other analysts also recently issued reports on T. BNP Paribas upgraded AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price objective on the stock in a research report on Thursday, February 13th. Scotiabank boosted their price objective on shares of AT&T from $29.00 to $29.50 and gave the company a “sector outperform” rating in a research report on Thursday. DZ Bank upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research report on Wednesday, January 29th. Williams Trading set a $30.00 price target on AT&T in a report on Thursday. Finally, Cowen reissued a “hold” rating on shares of AT&T in a research note on Thursday. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $28.62.

AT&T Stock Performance

NYSE:T opened at $26.80 on Thursday. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $192.38 billion, a P/E ratio of 17.99, a price-to-earnings-growth ratio of 3.00 and a beta of 0.42. The firm has a 50-day moving average price of $26.96 and a two-hundred day moving average price of $24.33. AT&T has a twelve month low of $16.73 and a twelve month high of $29.03.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). AT&T had a return on equity of 13.97% and a net margin of 8.95%. The business had revenue of $30.63 billion for the quarter, compared to analysts’ expectations of $30.39 billion. As a group, research analysts expect that AT&T will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be given a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.14%. The ex-dividend date is Thursday, April 10th. AT&T’s payout ratio is 68.10%.

Institutional Trading of AT&T

A number of hedge funds have recently made changes to their positions in T. Norges Bank acquired a new position in AT&T in the 4th quarter worth $1,858,418,000. GQG Partners LLC lifted its stake in shares of AT&T by 37.3% in the fourth quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock worth $2,203,667,000 after acquiring an additional 26,280,866 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in AT&T by 31.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company’s stock valued at $1,216,665,000 after purchasing an additional 12,881,578 shares during the last quarter. Northern Trust Corp grew its stake in AT&T by 16.3% during the 4th quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company’s stock valued at $1,779,438,000 after purchasing an additional 10,945,679 shares in the last quarter. Finally, Assetmark Inc. increased its holdings in AT&T by 4,986.1% during the 4th quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company’s stock worth $225,741,000 after purchasing an additional 9,719,036 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

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.