Scotiabank Issues Positive Forecast for AT&T (NYSE:T) Stock Price

AT&T (NYSE:T) had its price objective raised by Scotiabank from $26.00 to $28.50 in a research note issued to investors on Monday,Benzinga reports. They currently have a sector outperform rating on the technology company’s stock.

A number of other brokerages have also issued reports on T. Tigress Financial increased their target price on AT&T from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Oppenheimer initiated coverage on AT&T in a research report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 target price on the stock. UBS Group increased their target price on AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Citigroup increased their price objective on AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, The Goldman Sachs Group increased their price objective on AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $26.45.

AT&T Stock Performance

T opened at $27.69 on Monday. AT&T has a 52-week low of $15.94 and a 52-week high of $27.86. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The company has a market cap of $198.76 billion, a P/E ratio of 18.58, a price-to-earnings-growth ratio of 3.00 and a beta of 0.59. The firm’s 50-day moving average price is $24.01 and its 200-day moving average price is $22.64.

AT&T (NYSE:T) last released its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. As a group, equities analysts anticipate that AT&T will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date was Friday, January 10th. AT&T’s dividend payout ratio (DPR) is presently 74.50%.

Institutional Trading of AT&T

Hedge funds and other institutional investors have recently modified their holdings of the business. Legacy Investment Solutions LLC acquired a new stake in shares of AT&T during the 3rd quarter worth about $25,000. Minot DeBlois Advisors LLC acquired a new stake in shares of AT&T during the 4th quarter worth about $25,000. Capital A Wealth Management LLC purchased a new position in AT&T during the 4th quarter valued at about $25,000. Putney Financial Group LLC purchased a new position in AT&T during the 4th quarter valued at about $27,000. Finally, Marshall Investment Management LLC purchased a new position in AT&T during the 4th quarter valued at about $28,000. 57.10% of the stock is owned by institutional investors and hedge funds.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.