AT&T (NYSE:T) Price Target Raised to $32.00

AT&T (NYSE:T) had its price objective raised by Morgan Stanley from $31.00 to $32.00 in a research report sent to investors on Wednesday morning, MarketBeat.com reports. Morgan Stanley currently has an overweight rating on the technology company’s stock.

T has been the subject of a number of other research reports. Williams Trading set a $30.00 price target on shares of AT&T in a research note on Thursday, April 24th. Wells Fargo & Company upped their target price on shares of AT&T from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. TD Securities lifted their price target on AT&T from $29.00 to $30.00 and gave the stock a “hold” rating in a research note on Thursday, April 24th. Cowen restated a “hold” rating on shares of AT&T in a research note on Thursday, April 24th. Finally, Scotiabank increased their target price on AT&T from $29.50 to $30.00 and gave the stock a “sector outperform” rating in a report on Friday, July 11th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.17.

AT&T Stock Down 0.3%

Shares of NYSE:T opened at $26.92 on Wednesday. The company has a market capitalization of $193.71 billion, a price-to-earnings ratio of 16.52, a price-to-earnings-growth ratio of 3.37 and a beta of 0.42. The company has a 50 day moving average of $27.74 and a two-hundred day moving average of $26.44. AT&T has a 52-week low of $18.14 and a 52-week high of $29.19. The company has a quick ratio of 0.65, a current ratio of 0.70 and a debt-to-equity ratio of 0.98.

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

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be paid a dividend of $0.2775 per share. 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 payout ratio is currently 68.10%.

Institutional Trading of AT&T

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Brighton Jones LLC boosted its stake in AT&T by 26.5% during the fourth quarter. Brighton Jones LLC now owns 48,579 shares of the technology company’s stock valued at $1,106,000 after buying an additional 10,188 shares in the last quarter. Proficio Capital Partners LLC boosted its position in shares of AT&T by 39.7% during the 4th quarter. Proficio Capital Partners LLC now owns 28,782 shares of the technology company’s stock valued at $655,000 after purchasing an additional 8,179 shares in the last quarter. Mystic Asset Management Inc. acquired a new position in shares of AT&T in the 4th quarter worth approximately $333,000. Retirement Planning Co of New England Inc. grew its stake in shares of AT&T by 8.8% in the 4th quarter. Retirement Planning Co of New England Inc. now owns 12,018 shares of the technology company’s stock worth $274,000 after purchasing an additional 967 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in shares of AT&T by 1.9% in the 4th quarter. Thrivent Financial for Lutherans now owns 462,211 shares of the technology company’s stock worth $10,487,000 after purchasing an additional 8,428 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

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.