AT&T (NYSE:T) Upgraded to Overweight by Barclays

Barclays upgraded shares of AT&T (NYSE:T) from an equal weight rating to an overweight rating in a research note issued to investors on Monday, MarketBeat reports. They currently have $20.00 price objective on the technology company’s stock.

Other equities research analysts have also issued research reports about the stock. JPMorgan Chase & Co. raised shares of AT&T from a neutral rating to an overweight rating and upped their price target for the company from $18.00 to $21.00 in a research report on Thursday, February 1st. Royal Bank of Canada reissued a sector perform rating and issued a $17.00 target price on shares of AT&T in a report on Thursday, April 11th. Oppenheimer raised shares of AT&T from a market perform rating to an outperform rating and set a $21.00 target price for the company in a report on Friday, January 19th. Wolfe Research raised shares of AT&T from a peer perform rating to an outperform rating and set a $21.00 target price for the company in a report on Tuesday, March 5th. Finally, Citigroup increased their target price on shares of AT&T from $19.00 to $20.00 and gave the stock a buy rating in a report on Thursday, February 1st. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $20.81.

AT&T Price Performance

NYSE T opened at $17.03 on Monday. AT&T has a 52 week low of $13.43 and a 52 week high of $18.16. The firm has a market capitalization of $121.78 billion, a P/E ratio of 9.15, a PEG ratio of 3.32 and a beta of 0.57. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06. The company has a 50-day moving average price of $16.97 and a 200-day moving average price of $16.60.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The firm had revenue of $30.03 billion during the quarter, compared to analyst estimates of $30.62 billion. During the same quarter in the prior year, the firm earned $0.60 EPS. The business’s revenue for the quarter was down .4% compared to the same quarter last year. Equities research analysts anticipate that AT&T will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be paid a $0.2775 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.11 annualized dividend and a yield of 6.52%. AT&T’s payout ratio is 59.68%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of T. Exchange Traded Concepts LLC boosted its position in shares of AT&T by 33.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 43,337 shares of the technology company’s stock valued at $651,000 after acquiring an additional 10,758 shares during the last quarter. Avestar Capital LLC purchased a new stake in AT&T during the 3rd quarter valued at $237,000. PDS Planning Inc raised its holdings in AT&T by 8.7% during the 3rd quarter. PDS Planning Inc now owns 26,173 shares of the technology company’s stock valued at $393,000 after buying an additional 2,104 shares during the period. Garrison Asset Management LLC purchased a new stake in AT&T during the 3rd quarter valued at $158,000. Finally, All Season Financial Advisors Inc. raised its holdings in AT&T by 2.4% during the 3rd quarter. All Season Financial Advisors Inc. now owns 41,459 shares of the technology company’s stock valued at $623,000 after buying an additional 978 shares during the period. 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.