Scotiabank Increases AT&T (NYSE:T) Price Target to $24.00

AT&T (NYSE:T) had its price objective increased by Scotiabank from $23.00 to $24.00 in a report published on Thursday, Benzinga reports. They currently have a sector outperform rating on the technology company’s stock.

Other equities research analysts also recently issued research reports about the company. BNP Paribas upgraded AT&T from an underperform rating to a neutral rating in a research report on Tuesday, June 11th. Barclays lifted their price objective on AT&T from $20.00 to $22.00 and gave the stock an overweight rating in a research note on Thursday. StockNews.com cut AT&T from a buy rating to a hold rating in a research note on Friday, May 3rd. Royal Bank of Canada boosted their target price on AT&T from $18.00 to $19.00 and gave the company a sector perform rating in a research note on Thursday. Finally, The Goldman Sachs Group started coverage on AT&T in a research note on Monday, July 1st. They issued a buy rating and a $22.00 target price for the company. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $22.33.

AT&T Trading Down 0.9 %

Shares of T opened at $19.01 on Thursday. The stock has a fifty day moving average price of $18.32 and a two-hundred day moving average price of $17.47. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.63 and a current ratio of 0.70. AT&T has a 52-week low of $13.89 and a 52-week high of $19.74. The company has a market cap of $136.30 billion, a price-to-earnings ratio of 10.22, a PEG ratio of 3.65 and a beta of 0.58.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting 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 during the quarter, compared to the consensus estimate of $30.05 billion. During the same quarter in the previous year, the company posted $0.63 EPS. The business’s revenue for the quarter was down .3% compared to the same quarter last year. Analysts predict that AT&T will post 2.21 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be issued a dividend of $0.2775 per share. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $1.11 annualized dividend and a yield of 5.84%. AT&T’s payout ratio is presently 59.68%.

Institutional Trading of AT&T

Institutional investors and hedge funds have recently bought and sold shares of the stock. Cantor Fitzgerald Investment Advisors L.P. bought a new stake in AT&T during the fourth quarter worth about $11,554,000. Provence Wealth Management Group raised its stake in AT&T by 55.8% in the fourth quarter. Provence Wealth Management Group now owns 16,217 shares of the technology company’s stock valued at $272,000 after buying an additional 5,807 shares during the period. Clearbridge Investments LLC raised its stake in AT&T by 250.3% in the fourth quarter. Clearbridge Investments LLC now owns 67,303 shares of the technology company’s stock valued at $1,129,000 after buying an additional 48,091 shares during the period. Retireful LLC bought a new stake in AT&T in the fourth quarter valued at approximately $1,163,000. Finally, Brighton Jones LLC raised its stake in AT&T by 12.6% in the fourth quarter. Brighton Jones LLC now owns 46,265 shares of the technology company’s stock valued at $776,000 after buying an additional 5,161 shares during the period. Institutional investors own 57.10% of the company’s stock.

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.