Brokerages Set AT&T Inc. (NYSE:T) PT at $30.24

Shares of AT&T Inc. (NYSE:T) have received a consensus rating of “Moderate Buy” from the twenty-six ratings firms that are presently covering the company, MarketBeat.com reports. Nine investment analysts have rated the stock with a hold recommendation, sixteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $30.2396.

A number of brokerages have recently issued reports on T. Williams Trading set a $33.00 price target on shares of AT&T in a report on Thursday, October 23rd. KeyCorp upgraded AT&T from a “sector weight” rating to an “overweight” rating and set a $30.00 price objective for the company in a research report on Tuesday, November 11th. Sanford C. Bernstein lifted their target price on AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, September 4th. Wall Street Zen lowered AT&T from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Morgan Stanley cut their price objective on AT&T from $32.00 to $30.00 and set an “overweight” rating for the company in a research report on Wednesday, December 10th.

AT&T Stock Up 0.0%

NYSE T opened at $24.66 on Wednesday. AT&T has a 52 week low of $21.38 and a 52 week high of $29.79. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 1.01. The business’s fifty day simple moving average is $25.07 and its 200-day simple moving average is $27.03. The firm has a market cap of $174.85 billion, a PE ratio of 8.01, a P/E/G ratio of 1.44 and a beta of 0.38.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, October 22nd. The technology company reported $0.54 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.54. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The firm had revenue of $30.71 billion during the quarter, compared to analyst estimates of $30.85 billion. During the same quarter in the prior year, the firm posted $0.60 earnings per share. AT&T’s quarterly revenue was up 1.7% on a year-over-year basis. As a group, equities analysts anticipate that AT&T will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 12th will be given a dividend of $0.2775 per share. The ex-dividend date is Monday, January 12th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.5%. AT&T’s dividend payout ratio (DPR) is currently 36.04%.

Hedge Funds Weigh In On AT&T

A number of hedge funds have recently made changes to their positions in the stock. Denali Advisors LLC lifted its stake in AT&T by 5.9% in the second quarter. Denali Advisors LLC now owns 401,037 shares of the technology company’s stock worth $11,606,000 after acquiring an additional 22,394 shares during the last quarter. Tredje AP fonden raised its holdings in shares of AT&T by 1.8% in the 2nd quarter. Tredje AP fonden now owns 1,221,395 shares of the technology company’s stock valued at $35,347,000 after purchasing an additional 21,720 shares in the last quarter. CHURCHILL MANAGEMENT Corp lifted its position in shares of AT&T by 1.5% during the 2nd quarter. CHURCHILL MANAGEMENT Corp now owns 324,104 shares of the technology company’s stock worth $9,380,000 after purchasing an additional 4,793 shares during the last quarter. Kickstand Ventures LLC. acquired a new position in shares of AT&T during the second quarter worth $489,000. Finally, Sentry Investment Management LLC increased its holdings in AT&T by 153.2% in the second quarter. Sentry Investment Management LLC now owns 22,095 shares of the technology company’s stock valued at $625,000 after buying an additional 13,370 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Company Profile

AT&T Inc is a global telecommunications company that provides a broad range of communications and digital entertainment services. Its core activities include consumer and business wireless services, broadband and fiber internet, and network infrastructure. The company operates branded wireless services through AT&T Mobility and deploys fixed-line and fiber networks to deliver high-speed internet and related home services.

AT&T’s product and service portfolio spans mobile voice and data plans, smartphones and device sales, home internet (including fiber-to-the-home where available), and managed connectivity solutions for enterprise customers.