AT&T (NYSE:T) Given New $29.00 Price Target at Sanford C. Bernstein

AT&T (NYSE:T) had its target price upped by Sanford C. Bernstein from $28.00 to $29.00 in a research report released on Tuesday,Benzinga reports. The firm currently has an outperform rating on the technology company’s stock.

A number of other research analysts have also issued reports on the stock. Morgan Stanley raised shares of AT&T from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $19.00 to $28.00 in a research note on Monday, December 16th. Argus raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Thursday, January 16th. Royal Bank of Canada raised shares of AT&T from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $22.00 to $26.00 in a research note on Monday, January 6th. UBS Group boosted their target price on shares of AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, AT&T has an average rating of “Moderate Buy” and an average price target of $26.06.

AT&T Trading Up 1.2 %

AT&T stock opened at $24.43 on Tuesday. The firm’s 50-day moving average is $22.83 and its 200-day moving average is $21.51. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. AT&T has a 1 year low of $15.94 and a 1 year high of $24.58. The company has a market cap of $175.26 billion, a P/E ratio of 19.86, a PEG ratio of 3.50 and a beta of 0.59.

AT&T (NYSE:T) last posted its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a net margin of 7.42% and a return on equity of 13.97%. On average, equities analysts expect that AT&T will post 2.21 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be given a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.54%. The ex-dividend date is Friday, January 10th. AT&T’s dividend payout ratio (DPR) is currently 90.24%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Northeast Investment Management increased its position in shares of AT&T by 0.9% in the fourth quarter. Northeast Investment Management now owns 51,198 shares of the technology company’s stock worth $1,166,000 after acquiring an additional 451 shares in the last quarter. Chesapeake Wealth Management grew its position in AT&T by 1.9% during the third quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock valued at $535,000 after purchasing an additional 460 shares in the last quarter. Luts & Greenleigh Group Inc. grew its position in AT&T by 2.8% during the fourth quarter. Luts & Greenleigh Group Inc. now owns 16,905 shares of the technology company’s stock valued at $385,000 after purchasing an additional 460 shares in the last quarter. Socha Financial Group LLC grew its position in AT&T by 2.5% during the third quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock valued at $415,000 after purchasing an additional 461 shares in the last quarter. Finally, Garden State Investment Advisory Services LLC grew its position in AT&T by 1.4% during the third quarter. Garden State Investment Advisory Services LLC now owns 34,468 shares of the technology company’s stock valued at $759,000 after purchasing an additional 468 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

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.