Brokerages Set AT&T Inc. (NYSE:T) PT at $22.38

AT&T Inc. (NYSE:T) has been assigned a consensus rating of “Moderate Buy” from the twenty ratings firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $22.38.

T has been the topic of a number of research analyst reports. Scotiabank lowered AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Daiwa America raised AT&T to a “hold” rating in a report on Friday, July 26th. Tigress Financial raised their price target on AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a report on Friday, September 27th. Deutsche Bank Aktiengesellschaft raised their price target on AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a report on Friday, June 28th. Finally, Royal Bank of Canada raised their price target on AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th.

Institutional Trading of AT&T

Hedge funds have recently made changes to their positions in the stock. Handelsbanken Fonder AB lifted its position in AT&T by 5.7% in the 3rd quarter. Handelsbanken Fonder AB now owns 2,446,135 shares of the technology company’s stock worth $53,815,000 after buying an additional 131,625 shares in the last quarter. ZRC Wealth Management LLC lifted its position in AT&T by 144.0% in the 3rd quarter. ZRC Wealth Management LLC now owns 1,976 shares of the technology company’s stock worth $43,000 after buying an additional 1,166 shares in the last quarter. Cullen Investment Group LTD. lifted its position in AT&T by 1.4% in the 3rd quarter. Cullen Investment Group LTD. now owns 66,380 shares of the technology company’s stock worth $1,460,000 after buying an additional 940 shares in the last quarter. Burns J W & Co. Inc. NY lifted its position in AT&T by 7.4% in the 3rd quarter. Burns J W & Co. Inc. NY now owns 22,138 shares of the technology company’s stock worth $487,000 after buying an additional 1,521 shares in the last quarter. Finally, Harbor Investment Advisory LLC lifted its position in AT&T by 27.1% in the 3rd quarter. Harbor Investment Advisory LLC now owns 13,740 shares of the technology company’s stock worth $302,000 after buying an additional 2,932 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Price Performance

Shares of NYSE T opened at $21.91 on Monday. AT&T has a 1-year low of $14.12 and a 1-year high of $22.34. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. The business’s fifty day moving average price is $20.47 and its two-hundred day moving average price is $18.68. The firm has a market capitalization of $157.10 billion, a PE ratio of 11.78, a P/E/G ratio of 3.78 and a beta of 0.60.

AT&T (NYSE:T) last issued its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, hitting the consensus estimate of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The firm had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. During the same period last year, the company earned $0.63 earnings per share. The firm’s revenue for the quarter was down .3% on a year-over-year basis. On average, research analysts expect that AT&T will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors 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 dividend on an annualized basis and a dividend yield of 5.07%. AT&T’s dividend payout ratio (DPR) is 59.68%.

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.