AT&T (NYSE:T) Price Target Increased to $30.00 by Analysts at Tigress Financial

AT&T (NYSE:T) had its price target lifted by Tigress Financial from $29.00 to $30.00 in a research report released on Friday, Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

A number of other research firms also recently commented on T. Citigroup raised their target price on shares of AT&T from $21.00 to $24.00 and gave the company a buy rating in a research report on Wednesday, September 11th. Redburn Atlantic raised shares of AT&T to a strong sell rating in a research note on Monday, September 16th. JPMorgan Chase & Co. upped their target price on AT&T from $21.00 to $24.00 and gave the stock an overweight rating in a report on Thursday, July 25th. UBS Group reiterated a buy rating and issued a $24.00 price target on shares of AT&T in a report on Tuesday, June 18th. Finally, BNP Paribas raised AT&T from an underperform rating to a neutral rating in a research report on Tuesday, June 11th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $22.38.

AT&T Price Performance

AT&T stock opened at $21.99 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. The stock has a market cap of $157.64 billion, a price-to-earnings ratio of 11.82, a price-to-earnings-growth ratio of 3.68 and a beta of 0.59. The firm has a 50-day moving average of $20.21 and a two-hundred day moving average of $18.54. AT&T has a 1 year low of $14.12 and a 1 year high of $22.34.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, hitting the consensus estimate of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The company had revenue of $29.80 billion for the quarter, compared to the consensus estimate of $30.05 billion. During the same period last year, the business posted $0.63 EPS. AT&T’s quarterly revenue was down .3% on a year-over-year basis. On average, research analysts forecast that AT&T will post 2.2 earnings per share for the current year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 5.05%. The ex-dividend date is Thursday, October 10th. AT&T’s payout ratio is 59.68%.

Hedge Funds Weigh In On AT&T

A number of institutional investors have recently bought and sold shares of T. Riggs Asset Managment Co. Inc. lifted its holdings in shares of AT&T by 356.5% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after buying an additional 1,116 shares during the period. Pineridge Advisors LLC acquired a new position in AT&T in the fourth quarter valued at approximately $25,000. Frank Rimerman Advisors LLC purchased a new stake in AT&T in the 4th quarter worth approximately $25,000. American Capital Advisory LLC grew its stake in shares of AT&T by 107.5% during the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after purchasing an additional 807 shares during the period. Finally, Altshuler Shaham Ltd purchased a new position in shares of AT&T during the 2nd quarter valued at approximately $30,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

About AT&T

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.