Royal Bank of Canada Issues Positive Forecast for AT&T (NYSE:T) Stock Price

AT&T (NYSE:T) had its price objective increased by Royal Bank of Canada from $26.00 to $27.00 in a research note released on Tuesday morning,Benzinga reports. They currently have an outperform rating on the technology company’s stock.

A number of other research firms also recently commented on T. Sanford C. Bernstein lifted their price objective on shares of AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a report on Tuesday. Argus upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Thursday, January 16th. Citigroup raised their target price on shares of AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. upped their target price on AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Morgan Stanley raised AT&T from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $19.00 to $28.00 in a report on Monday, December 16th. One analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and a consensus price target of $26.06.

AT&T Price Performance

Shares of T stock opened at $24.43 on Tuesday. The firm has a fifty day moving average of $22.83 and a two-hundred day moving average of $21.51. The firm has a market cap of $175.26 billion, a P/E ratio of 19.86, a P/E/G ratio of 3.50 and a beta of 0.59. AT&T has a 1-year low of $15.94 and a 1-year high of $24.58. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67.

AT&T (NYSE:T) last posted its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 7.42%. As a group, research analysts anticipate that AT&T will post 2.21 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s dividend payout ratio is currently 90.24%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in T. Northeast Investment Management grew its stake in shares of AT&T by 0.9% in the 4th quarter. Northeast Investment Management now owns 51,198 shares of the technology company’s stock worth $1,166,000 after purchasing an additional 451 shares during the last quarter. Chesapeake Wealth Management boosted its holdings in AT&T by 1.9% during the third quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock worth $535,000 after buying an additional 460 shares in the last quarter. Luts & Greenleigh Group Inc. grew its position in AT&T by 2.8% in the fourth quarter. Luts & Greenleigh Group Inc. now owns 16,905 shares of the technology company’s stock worth $385,000 after buying an additional 460 shares during the last quarter. Socha Financial Group LLC increased its holdings in shares of AT&T by 2.5% in the third quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock valued at $415,000 after buying an additional 461 shares in the last quarter. Finally, Garden State Investment Advisory Services LLC lifted its position in shares of AT&T by 1.4% during the 3rd quarter. Garden State Investment Advisory Services LLC now owns 34,468 shares of the technology company’s stock valued at $759,000 after acquiring an additional 468 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

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.