Brokerages Set AT&T Inc. (NYSE:T) Target Price at $23.40

Shares of AT&T Inc. (NYSE:T) have been given a consensus recommendation of “Moderate Buy” by the nineteen ratings firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $23.40.

T has been the topic of a number of recent analyst reports. Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a research report on Monday, September 16th. Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Tigress Financial upped their price objective on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Citigroup increased their price objective on AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $22.00 target price on shares of AT&T in a research note on Thursday, October 24th.

AT&T Stock Down 0.3 %

Shares of NYSE T opened at $23.10 on Tuesday. The stock has a market cap of $165.75 billion, a P/E ratio of 18.78, a PEG ratio of 3.48 and a beta of 0.59. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. AT&T has a 12-month low of $15.94 and a 12-month high of $23.32. The business’s fifty day simple moving average is $22.04 and its 200-day simple moving average is $20.00.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. During the same quarter last year, the business posted $0.64 EPS. The business’s quarterly revenue was down .5% compared to the same quarter last year. As a group, equities analysts predict that AT&T will post 2.22 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.81%. The ex-dividend date was Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Strategic Financial Concepts LLC increased its holdings in shares of AT&T by 227.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after purchasing an additional 91,578 shares in the last quarter. Legacy Investment Solutions LLC purchased a new position in AT&T in the third quarter valued at about $25,000. Riggs Asset Managment Co. Inc. lifted its position in shares of AT&T by 356.5% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after acquiring an additional 1,116 shares during the period. Ritter Daniher Financial Advisory LLC DE boosted its stake in shares of AT&T by 169.2% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after acquiring an additional 841 shares in the last quarter. Finally, American Capital Advisory LLC increased its stake in AT&T by 107.5% in the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after purchasing an additional 807 shares in the last quarter. 57.10% of the stock is currently 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.