Scotiabank Issues Positive Forecast for AT&T (NYSE:T) Stock Price

AT&T (NYSE:T) had its price objective upped by Scotiabank from $24.00 to $26.00 in a report issued on Tuesday morning,Benzinga reports. They currently have a sector outperform rating on the technology company’s stock.

T has been the topic of a number of other reports. Sanford C. Bernstein increased their price objective on shares of AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a research report on Tuesday. The Goldman Sachs Group raised their price target on AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. New Street Research raised AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 3rd. Oppenheimer initiated coverage on AT&T in a report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price objective on the stock. Finally, Morgan Stanley upgraded AT&T from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $19.00 to $28.00 in a research note on Monday, December 16th. One research analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, AT&T has an average rating of “Moderate Buy” and an average price target of $26.06.

AT&T Trading Up 1.2 %

NYSE:T opened at $24.43 on Tuesday. AT&T has a 12-month low of $15.94 and a 12-month high of $24.58. The firm has a market cap of $175.26 billion, a PE ratio of 19.86, a price-to-earnings-growth ratio of 3.50 and a beta of 0.59. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The stock has a fifty day moving average price of $22.83 and a 200 day moving average price of $21.51.

AT&T (NYSE:T) last announced its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 7.42%. Sell-side analysts anticipate that AT&T will post 2.21 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend 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 presently 90.24%.

Hedge Funds Weigh In On AT&T

Large investors have recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new stake in shares of AT&T in the 4th quarter worth about $14,700,000. Swiss National Bank lifted its holdings in shares of AT&T by 0.5% in the third quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock valued at $468,217,000 after purchasing an additional 104,700 shares in the last quarter. Franklin Resources Inc. grew its position in shares of AT&T by 41.4% in the third quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock valued at $168,969,000 after purchasing an additional 2,326,904 shares during the last quarter. Caprock Group LLC increased its stake in shares of AT&T by 18.3% during the 3rd quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock worth $4,312,000 after purchasing an additional 30,281 shares in the last quarter. Finally, Talbot Financial LLC acquired a new position in shares of AT&T during the 3rd quarter worth approximately $7,438,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Company Profile

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.