AT&T Inc. (NYSE:T) Receives $22.33 Average Target Price from Analysts

Shares of AT&T Inc. (NYSE:T) have earned an average recommendation of “Moderate Buy” from the seventeen brokerages that are presently covering the company, Marketbeat reports. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $22.33.

Several research firms have recently commented on T. StockNews.com lowered shares of AT&T from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. BNP Paribas raised AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 11th. TD Cowen raised their price objective on AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. UBS Group reaffirmed a “buy” rating and issued a $24.00 target price on shares of AT&T in a research report on Tuesday, June 18th. Finally, JPMorgan Chase & Co. boosted their price target on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th.

AT&T Trading Up 0.5 %

Shares of AT&T stock opened at $19.52 on Friday. AT&T has a twelve month low of $13.92 and a twelve month high of $19.99. The firm’s 50-day moving average price is $18.71 and its 200 day moving average price is $17.69. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $139.96 billion, a PE ratio of 10.49, a P/E/G ratio of 3.28 and a beta of 0.58.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The company had revenue of $29.80 billion during the quarter, compared to analysts’ expectations of $30.05 billion. AT&T’s revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.63 EPS. On average, sell-side analysts predict that AT&T will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were given a $0.2775 dividend. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $1.11 annualized dividend and a yield of 5.69%. AT&T’s dividend payout ratio (DPR) is 59.68%.

Hedge Funds Weigh In On AT&T

Several institutional investors have recently added to or reduced their stakes in T. Frank Rimerman Advisors LLC acquired a new position in AT&T during the fourth quarter worth $25,000. Pineridge Advisors LLC purchased a new position in AT&T in the 4th quarter valued at about $25,000. Strategic Financial Concepts LLC boosted its position in 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 acquiring an additional 91,578 shares during the last quarter. Riggs Asset Managment Co. Inc. boosted its holdings 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 last quarter. Finally, First Pacific Financial boosted its stake in AT&T by 166.7% in the 1st quarter. First Pacific Financial now owns 1,600 shares of the technology company’s stock worth $28,000 after buying an additional 1,000 shares during the last quarter. Institutional investors and hedge funds 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.