AT&T (NYSE:T) Coverage Initiated by Analysts at The Goldman Sachs Group

The Goldman Sachs Group began coverage on shares of AT&T (NYSE:T) in a research note released on Tuesday morning, Marketbeat reports. The brokerage issued a buy rating and a $32.00 target price on the technology company’s stock.

A number of other analysts also recently issued reports on T. Citigroup reaffirmed a “buy” rating on shares of AT&T in a research report on Tuesday, August 26th. Raymond James Financial restated a “strong-buy” rating and issued a $31.00 price target (up from $30.00) on shares of AT&T in a research note on Thursday, July 24th. Morgan Stanley raised their price target on AT&T from $31.00 to $32.00 and gave the company an “overweight” rating in a research note on Wednesday, July 16th. Bank of America assumed coverage on AT&T in a research note on Monday, July 7th. They issued a “buy” rating and a $32.00 price target for the company. Finally, Hsbc Global Res downgraded AT&T from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, AT&T has an average rating of “Moderate Buy” and a consensus price target of $30.40.

AT&T Stock Performance

Shares of T stock opened at $29.07 on Tuesday. AT&T has a 12 month low of $19.92 and a 12 month high of $29.65. The company’s fifty day simple moving average is $28.15 and its 200-day simple moving average is $27.57. The firm has a market cap of $207.86 billion, a PE ratio of 16.52, a P/E/G ratio of 3.62 and a beta of 0.44. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The firm had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. During the same period in the previous year, the business earned $0.51 EPS. The company’s revenue was up 3.4% compared to the same quarter last year. Equities research analysts expect that AT&T will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Thursday, July 10th. AT&T’s payout ratio is currently 63.07%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in T. Minot DeBlois Advisors LLC bought a new position in shares of AT&T during the 4th quarter worth approximately $25,000. Capital A Wealth Management LLC acquired a new stake in AT&T during the 4th quarter worth approximately $25,000. Stone House Investment Management LLC acquired a new stake in AT&T during the 1st quarter worth approximately $25,000. Front Row Advisors LLC acquired a new stake in AT&T during the 2nd quarter worth approximately $25,000. Finally, O Brien Wealth Partners LLC acquired a new stake in AT&T during the 2nd quarter worth approximately $26,000. 57.10% of the stock is currently owned by institutional investors.

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.