AT&T (NYSE:T) Stock Price Expected to Rise, UBS Group Analyst Says

AT&T (NYSE:T) had its price target upped by UBS Group from $25.00 to $30.00 in a research note released on Thursday,Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

Several other research analysts also recently commented on the company. JPMorgan Chase & Co. raised their target price on AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. New Street Research raised shares of AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Wells Fargo & Company reduced their price target on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $22.00 price objective on shares of AT&T in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $25.53.

AT&T Price Performance

Shares of NYSE:T opened at $22.57 on Thursday. The firm has a market capitalization of $161.95 billion, a PE ratio of 18.35, a P/E/G ratio of 3.60 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 company has a 50-day moving average price of $22.58 and a two-hundred day moving average price of $20.70. AT&T has a twelve month low of $15.94 and a twelve month high of $24.03.

AT&T (NYSE:T) last issued 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 net margin of 7.42% and a return on equity of 13.97%. The business had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. During the same quarter in the previous year, the firm posted $0.64 EPS. The business’s revenue for the quarter was down .5% compared to the same quarter last year. Equities analysts forecast that AT&T will post 2.19 EPS for the current year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.92%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s dividend payout ratio is presently 90.24%.

Institutional Trading of AT&T

Several hedge funds and other institutional investors have recently bought and sold shares of T. Secure Asset Management LLC increased its position in shares of AT&T by 36.9% during the second quarter. Secure Asset Management LLC now owns 36,402 shares of the technology company’s stock valued at $696,000 after buying an additional 9,816 shares during the period. Family Firm Inc. purchased a new position in shares of AT&T during the 2nd quarter worth approximately $57,000. LRI Investments LLC raised its position in shares of AT&T by 29.3% in the 2nd quarter. LRI Investments LLC now owns 24,840 shares of the technology company’s stock worth $475,000 after acquiring an additional 5,635 shares in the last quarter. Atlantic Union Bankshares Corp lifted its stake in shares of AT&T by 83.0% in the 2nd quarter. Atlantic Union Bankshares Corp now owns 57,274 shares of the technology company’s stock valued at $1,094,000 after purchasing an additional 25,985 shares during the period. Finally, Kanawha Capital Management LLC boosted its position in shares of AT&T by 5.2% during the second quarter. Kanawha Capital Management LLC now owns 100,694 shares of the technology company’s stock valued at $1,924,000 after purchasing an additional 4,940 shares in the last quarter. Institutional investors 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.