Royal Bank of Canada reissued their sector perform rating on shares of AT&T (NYSE:T – Free Report) in a research note issued to investors on Thursday, Benzinga reports. Royal Bank of Canada currently has a $22.00 target price on the technology company’s stock.
A number of other equities analysts have also issued reports on the company. Deutsche Bank Aktiengesellschaft increased their price target on AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Barclays increased their price target on AT&T from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday. Evercore ISI increased their price target on AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a research note on Thursday, July 25th. TD Cowen increased their price target on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Finally, Redburn Atlantic raised AT&T to a “strong sell” rating in a research note on Monday, September 16th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and an average price target of $23.40.
Read Our Latest Research Report on T
AT&T Stock Down 1.7 %
AT&T (NYSE:T – Get Free Report) last posted its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. The firm had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The firm’s revenue was down .5% compared to the same quarter last year. During the same period last year, the firm earned $0.64 EPS. As a group, research analysts predict that AT&T will post 2.22 earnings per share for the current year.
AT&T Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a $0.2775 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.08%. AT&T’s dividend payout ratio (DPR) is presently 59.68%.
Institutional Trading of AT&T
Several hedge funds and other institutional investors have recently modified their holdings of the business. Strategic Financial Concepts LLC raised its holdings in shares of 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 in the last quarter. Riggs Asset Managment Co. Inc. raised 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 acquiring an additional 1,116 shares in the last quarter. American Capital Advisory LLC raised its holdings in shares of AT&T by 107.5% during the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after acquiring an additional 807 shares in the last quarter. Altshuler Shaham Ltd purchased a new stake in shares of AT&T during the second quarter worth $30,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in shares of AT&T by 176.6% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock worth $35,000 after acquiring an additional 1,192 shares in 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.
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