AT&T (NYSE:T) Price Target Raised to $26.00 at Citigroup

AT&T (NYSE:T) had its target price hoisted by Citigroup from $24.00 to $26.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a buy rating on the technology company’s stock.

Several other brokerages have also recently commented on T. Oppenheimer lifted their price objective on shares of AT&T from $23.00 to $24.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. Wells Fargo & Company dropped their target price on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a report on Monday, September 16th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $22.00 target price on shares of AT&T in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $23.53.

AT&T Price Performance

AT&T stock opened at $23.27 on Wednesday. AT&T has a 52-week low of $15.94 and a 52-week high of $23.38. The company has a market cap of $166.97 billion, a price-to-earnings ratio of 18.92, a PEG ratio of 3.47 and a beta of 0.59. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The firm’s fifty day moving average is $22.10 and its 200 day moving average is $20.07.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 7.42% and a return on equity of 13.97%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the prior year, the business posted $0.64 earnings per share. Sell-side analysts forecast 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 Friday, November 1st. Shareholders of record on Thursday, October 10th were issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.77%. The ex-dividend date was Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is 90.24%.

Hedge Funds Weigh In On AT&T

Several hedge funds and other institutional investors have recently modified their holdings of T. iA Global Asset Management Inc. acquired a new position in AT&T during the 1st quarter worth approximately $3,264,000. LRI Investments LLC purchased a new stake in AT&T during the 1st quarter worth approximately $338,000. Sanibel Captiva Trust Company Inc. increased its holdings in AT&T by 1.2% during the 1st quarter. Sanibel Captiva Trust Company Inc. now owns 86,004 shares of the technology company’s stock worth $1,514,000 after purchasing an additional 1,019 shares during the last quarter. Swedbank AB bought a new stake in shares of AT&T in the 1st quarter valued at approximately $54,122,000. Finally, Atria Investments Inc increased its holdings in shares of AT&T by 16.9% in the 1st quarter. Atria Investments Inc now owns 654,533 shares of the technology company’s stock valued at $11,524,000 after acquiring an additional 94,552 shares during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Company Profile

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.