AT&T (NYSE:T) Given New $27.00 Price Target at Oppenheimer

AT&T (NYSE:T) had its price target raised by Oppenheimer from $24.00 to $27.00 in a research note released on Wednesday,Benzinga reports. They currently have an outperform rating on the technology company’s stock.

Several other research analysts have also recently weighed in on T. Wells Fargo & Company lowered their price target on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Tigress Financial upped their target price on shares of AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a research report on Monday, September 16th. New Street Research raised shares of AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $22.00 target price on shares of AT&T in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $24.07.

AT&T Price Performance

Shares of NYSE T opened at $23.55 on Wednesday. AT&T has a one year low of $15.94 and a one year high of $24.03. The firm has a market cap of $168.94 billion, a PE ratio of 19.14, a PEG ratio of 3.41 and a beta of 0.59. The firm has a fifty day moving average of $22.28 and a 200 day moving average of $20.28. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business had revenue of $30.20 billion during the quarter, compared to analyst estimates of $30.50 billion. During the same quarter in the prior year, the firm earned $0.64 earnings per share. The company’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, research analysts predict that AT&T will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.71%. The ex-dividend date was Thursday, October 10th. AT&T’s dividend payout ratio is presently 90.24%.

Institutional Investors Weigh In On AT&T

Several hedge funds have recently modified their holdings of T. OLD National Bancorp IN lifted its holdings in AT&T by 1.5% in the second quarter. OLD National Bancorp IN now owns 1,753,729 shares of the technology company’s stock valued at $33,514,000 after acquiring an additional 26,044 shares during the period. CHICAGO TRUST Co NA lifted its holdings in AT&T by 2.4% in the second quarter. CHICAGO TRUST Co NA now owns 56,428 shares of the technology company’s stock valued at $1,078,000 after acquiring an additional 1,320 shares during the period. Norway Savings Bank lifted its holdings in AT&T by 37.0% in the second quarter. Norway Savings Bank now owns 13,784 shares of the technology company’s stock valued at $263,000 after acquiring an additional 3,724 shares during the period. Southland Equity Partners LLC lifted its holdings in AT&T by 105.0% in the second quarter. Southland Equity Partners LLC now owns 67,922 shares of the technology company’s stock valued at $1,298,000 after acquiring an additional 34,783 shares during the period. Finally, Sax Wealth Advisors LLC increased its position in shares of AT&T by 23.3% in the second quarter. Sax Wealth Advisors LLC now owns 36,070 shares of the technology company’s stock valued at $689,000 after buying an additional 6,816 shares in 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.