Barclays Increases AT&T (NYSE:T) Price Target to $22.00

AT&T (NYSE:T) had its target price raised by Barclays from $20.00 to $22.00 in a research report report published on Thursday, Benzinga reports. The firm currently has an overweight rating on the technology company’s stock.

Other research analysts have also issued reports about the company. Deutsche Bank Aktiengesellschaft raised their price objective on AT&T from $24.00 to $26.00 and gave the company a buy rating in a research report on Friday, June 28th. The Goldman Sachs Group assumed coverage on AT&T in a research report on Monday, July 1st. They set a buy rating and a $22.00 target price on the stock. Scotiabank lifted their price target on AT&T from $22.50 to $23.00 and gave the stock a sector outperform rating in a research note on Wednesday, July 10th. BNP Paribas upgraded AT&T from an underperform rating to a neutral rating in a research note on Tuesday, June 11th. Finally, StockNews.com downgraded AT&T from a buy rating to a hold rating in a research note on Friday, May 3rd. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, AT&T presently has a consensus rating of Moderate Buy and an average price target of $22.33.

AT&T Price Performance

T stock opened at $19.01 on Thursday. AT&T has a 52-week low of $13.89 and a 52-week high of $19.74. The stock’s fifty day simple moving average is $18.32 and its 200-day simple moving average is $17.47. The company has a quick ratio of 0.63, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $136.30 billion, a price-to-earnings ratio of 10.22, a price-to-earnings-growth ratio of 3.65 and a beta of 0.58.

AT&T (NYSE:T) last issued its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The firm had revenue of $29.80 billion for the quarter, compared to analysts’ expectations of $30.05 billion. During the same quarter last year, the firm earned $0.63 earnings per share. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. Equities research analysts expect that AT&T will post 2.21 EPS for the current year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be issued a $0.2775 dividend. The ex-dividend date is Wednesday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.84%. AT&T’s payout ratio is currently 59.68%.

Hedge Funds Weigh In On AT&T

Hedge funds have recently modified their holdings of the stock. Frank Rimerman Advisors LLC acquired a new position in AT&T during the fourth quarter worth $25,000. Pineridge Advisors LLC bought a new stake in shares of AT&T in the fourth quarter valued at about $25,000. First Pacific Financial lifted its stake in shares of AT&T by 166.7% in the first quarter. First Pacific Financial now owns 1,600 shares of the technology company’s stock valued at $28,000 after buying an additional 1,000 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its stake in shares of AT&T by 176.6% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock valued at $35,000 after buying an additional 1,192 shares during the period. Finally, Farmers & Merchants Trust Co of Chambersburg PA lifted its stake in shares of AT&T by 35.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock valued at $39,000 after buying an additional 606 shares during the period. 57.10% of the stock is owned by institutional investors and hedge funds.

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.