AT&T Inc. (NYSE:T) Receives $30.24 Consensus Target Price from Brokerages

AT&T Inc. (NYSE:T) has received a consensus recommendation of “Moderate Buy” from the twenty-six research firms that are covering the firm, Marketbeat Ratings reports. Nine analysts have rated the stock with a hold recommendation, sixteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $30.2396.

Several research analysts recently weighed in on T shares. Raymond James Financial reiterated a “strong-buy” rating and set a $33.00 price target (up from $31.00) on shares of AT&T in a research report on Thursday, September 18th. Wolfe Research lowered shares of AT&T from an “outperform” rating to a “peer perform” rating in a report on Monday, December 15th. Cowen reiterated a “hold” rating on shares of AT&T in a research note on Thursday, October 23rd. Wall Street Zen downgraded shares of AT&T from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Wells Fargo & Company cut their price objective on shares of AT&T from $31.00 to $29.00 and set an “overweight” rating for the company in a report on Thursday, October 16th.

Institutional Trading of AT&T

Institutional investors and hedge funds have recently made changes to their positions in the business. Front Row Advisors LLC purchased a new position in shares of AT&T during the 2nd quarter valued at approximately $25,000. Mountain Hill Investment Partners Corp. lifted its holdings in AT&T by 363.7% during the third quarter. Mountain Hill Investment Partners Corp. now owns 895 shares of the technology company’s stock valued at $25,000 after purchasing an additional 702 shares in the last quarter. GGM Financials LLC acquired a new stake in shares of AT&T in the third quarter valued at about $25,000. O Brien Wealth Partners LLC purchased a new stake in shares of AT&T during the second quarter worth about $26,000. Finally, Kennebec Savings Bank lifted its stake in AT&T by 412.1% in the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after buying an additional 783 shares in the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Trading Up 0.3%

NYSE T opened at $24.84 on Wednesday. AT&T has a 1 year low of $21.38 and a 1 year high of $29.79. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.01 and a quick ratio of 0.96. The company has a market capitalization of $176.07 billion, a PE ratio of 8.06, a P/E/G ratio of 1.45 and a beta of 0.38. The company has a fifty day moving average of $25.02 and a 200 day moving average of $26.96.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, hitting the consensus estimate of $0.54. The company had revenue of $30.71 billion for the quarter, compared to the consensus estimate of $30.85 billion. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period last year, the firm earned $0.60 EPS. Research analysts forecast that AT&T will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 12th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Monday, January 12th. This represents a $1.11 dividend on an annualized basis and a yield of 4.5%. AT&T’s dividend payout ratio is presently 36.04%.

About AT&T

AT&T Inc is a global telecommunications company that provides a broad range of communications and digital entertainment services. Its core activities include consumer and business wireless services, broadband and fiber internet, and network infrastructure. The company operates branded wireless services through AT&T Mobility and deploys fixed-line and fiber networks to deliver high-speed internet and related home services.

AT&T’s product and service portfolio spans mobile voice and data plans, smartphones and device sales, home internet (including fiber-to-the-home where available), and managed connectivity solutions for enterprise customers.