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

AT&T (NYSE:T) had its target price hoisted by Deutsche Bank Aktiengesellschaft from $24.00 to $26.00 in a research report report published on Friday, Benzinga reports. They currently have a buy rating on the technology company’s stock.

T has been the topic of several other research reports. Wolfe Research raised AT&T from a peer perform rating to an outperform rating and set a $21.00 target price on the stock in a research note on Tuesday, March 5th. Barclays raised AT&T from an equal weight rating to an overweight rating and set a $20.00 target price on the stock in a research note on Monday, April 29th. BNP Paribas upgraded AT&T from an underperform rating to a neutral rating in a report on Tuesday, June 11th. Scotiabank lifted their price target on AT&T from $22.00 to $22.50 and gave the company a sector outperform rating in a report on Thursday, April 25th. Finally, UBS Group reiterated a buy rating and set a $24.00 price target on shares of AT&T in a report on Tuesday, June 18th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $21.73.

AT&T Price Performance

NYSE:T opened at $18.98 on Friday. The business’s 50-day moving average price is $17.57 and its 200 day moving average price is $17.18. The firm has a market cap of $136.09 billion, a P/E ratio of 10.20, a PEG ratio of 4.34 and a beta of 0.60. AT&T has a 52-week low of $13.43 and a 52-week high of $19.32. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The firm had revenue of $30.03 billion for the quarter, compared to analysts’ expectations of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. AT&T’s revenue was down .4% on a year-over-year basis. During the same quarter last year, the business posted $0.60 EPS. As a group, sell-side analysts predict that AT&T will post 2.24 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.85%. The ex-dividend date is Wednesday, July 10th. AT&T’s dividend payout ratio is presently 59.68%.

Institutional Trading of AT&T

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its position in AT&T by 0.4% in the first quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock valued at $10,999,912,000 after acquiring an additional 2,588,539 shares during the period. Bank of New York Mellon Corp boosted its stake in AT&T by 5.6% in the first quarter. Bank of New York Mellon Corp now owns 75,484,518 shares of the technology company’s stock worth $1,328,528,000 after purchasing an additional 4,014,873 shares in the last quarter. Norges Bank acquired a new position in AT&T in the fourth quarter worth $1,118,288,000. Ameriprise Financial Inc. boosted its stake in AT&T by 185.6% in the third quarter. Ameriprise Financial Inc. now owns 52,613,513 shares of the technology company’s stock worth $790,301,000 after purchasing an additional 34,189,954 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in AT&T by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 50,589,421 shares of the technology company’s stock worth $848,888,000 after purchasing an additional 798,024 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

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.