AT&T (NYSE:T) Price Target Raised to $31.00

AT&T (NYSE:T) had its price target hoisted by Wells Fargo & Company from $30.00 to $31.00 in a research note published on Thursday,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

Several other equities analysts have also recently issued reports on T. Wall Street Zen upgraded shares of AT&T from a “hold” rating to a “buy” rating in a research report on Friday, April 25th. UBS Group reiterated a “buy” rating and set a $31.00 price target (up previously from $30.00) on shares of AT&T in a research report on Wednesday, June 18th. Oppenheimer upped their price objective on shares of AT&T from $27.00 to $32.00 and gave the stock an “outperform” rating in a report on Tuesday, April 1st. Morgan Stanley restated an “overweight” rating and issued a $31.00 price objective (up previously from $30.00) on shares of AT&T in a report on Thursday, April 24th. Finally, Royal Bank Of Canada upped their price objective on shares of AT&T from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $29.12.

AT&T Stock Performance

AT&T stock opened at $26.97 on Thursday. The company has a quick ratio of 0.65, a current ratio of 0.70 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $194.07 billion, a PE ratio of 16.55, a P/E/G ratio of 3.37 and a beta of 0.42. The firm has a fifty day simple moving average of $27.82 and a two-hundred day simple moving average of $26.32. AT&T has a twelve month low of $18.14 and a twelve month high of $29.19.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). The business had revenue of $30.63 billion during the quarter, compared to the consensus estimate of $30.39 billion. AT&T had a return on equity of 13.63% and a net margin of 9.64%. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.55 earnings per share. Research analysts expect that AT&T will post 2.14 EPS for the current year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.12%. The ex-dividend date of this dividend is Thursday, July 10th. AT&T’s dividend payout ratio is currently 68.10%.

Institutional Investors Weigh In On AT&T

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Minot DeBlois Advisors LLC bought a new stake in shares of AT&T during the 4th quarter valued at $25,000. Capital A Wealth Management LLC bought a new stake in shares of AT&T during the 4th quarter valued at $25,000. Stone House Investment Management LLC bought a new stake in shares of AT&T during the 1st quarter valued at $25,000. O Brien Wealth Partners LLC bought a new stake in shares of AT&T during the 2nd quarter valued at $26,000. Finally, Putney Financial Group LLC bought a new stake in shares of AT&T during the 4th quarter valued at $27,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Company Profile

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.