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

AT&T (NYSE:T) had its price target raised by Oppenheimer from $27.00 to $32.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an outperform rating on the technology company’s stock.

Several other equities analysts also recently commented on T. BNP Paribas raised shares of AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 target price on the stock in a report on Thursday, February 13th. Morgan Stanley upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $19.00 to $28.00 in a research note on Monday, December 16th. DZ Bank upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Wednesday, January 29th. Tigress Financial lifted their target price on AT&T from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Finally, Argus raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, AT&T has an average rating of “Moderate Buy” and an average target price of $27.21.

AT&T Price Performance

NYSE:T opened at $28.59 on Tuesday. The business’s 50-day simple moving average is $26.18 and its two-hundred day simple moving average is $23.70. AT&T has a 52 week low of $15.94 and a 52 week high of $29.03. The stock has a market cap of $205.20 billion, a PE ratio of 19.19, a P/E/G ratio of 3.00 and a beta of 0.56. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00.

AT&T (NYSE:T) last issued its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. As a group, analysts forecast that AT&T will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be given a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 3.88%. The ex-dividend date is Thursday, April 10th. AT&T’s dividend payout ratio (DPR) is presently 74.50%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Tradition Wealth Management LLC bought a new position in AT&T during the 3rd quarter worth about $270,000. Kestra Investment Management LLC purchased a new stake in shares of AT&T during the 3rd quarter worth $382,000. Paloma Partners Management Co lifted its stake in shares of AT&T by 141.8% during the 3rd quarter. Paloma Partners Management Co now owns 31,038 shares of the technology company’s stock worth $683,000 after purchasing an additional 105,338 shares during the last quarter. Benjamin Edwards Inc. boosted its position in AT&T by 1,855.5% during the third quarter. Benjamin Edwards Inc. now owns 92,810 shares of the technology company’s stock valued at $2,042,000 after purchasing an additional 88,064 shares in the last quarter. Finally, Concentric Capital Strategies LP purchased a new position in AT&T in the third quarter valued at about $1,978,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

About AT&T

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.