Wells Fargo & Company Raises AT&T (NYSE:T) Price Target to $25.00

AT&T (NYSE:T - Free Report) had its price target hoisted by Wells Fargo & Company from $22.00 to $25.00 in a report published on Monday, Benzinga reports. They currently have an overweight rating on the technology company's stock.

A number of other equities research analysts have also commented on T. The Goldman Sachs Group started coverage on AT&T in a research report on Monday, July 1st. They issued a buy rating and a $22.00 price target for the company. Redburn Atlantic upgraded shares of AT&T to a strong sell rating in a report on Monday, September 16th. Tigress Financial upped their price objective on shares of AT&T from $29.00 to $30.00 and gave the stock a buy rating in a research report on Friday, September 27th. Hsbc Global Res upgraded AT&T to a strong-buy rating in a research note on Tuesday, October 1st. Finally, Scotiabank downgraded AT&T from a strong-buy rating to a hold rating in a research report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $22.69.

AT&T Price Performance

Shares of NYSE T traded down $0.11 during mid-day trading on Monday, hitting $21.26. 33,488,198 shares of the stock traded hands, compared to its average volume of 35,688,285. 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 company has a market cap of $152.44 billion, a PE ratio of 11.48, a price-to-earnings-growth ratio of 3.62 and a beta of 0.60. AT&T has a twelve month low of $14.23 and a twelve month high of $22.34. The firm has a 50 day simple moving average of $20.71 and a two-hundred day simple moving average of $18.84.

AT&T (NYSE:T - Get Free Report) last released 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 net margin of 10.41% and a return on equity of 14.16%. The business had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. During the same quarter in the prior year, the firm posted $0.63 EPS. The company's revenue for the quarter was down .3% compared to the same quarter last year. As a group, equities research analysts forecast that AT&T will post 2.22 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be given a $0.2775 dividend. The ex-dividend date is Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.22%. AT&T's dividend payout ratio (DPR) is currently 59.68%.

Hedge Funds Weigh In On AT&T

A number of large investors have recently added to or reduced their stakes in T. Strategic Financial Concepts LLC grew its position in shares of AT&T by 227.6% in the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company's stock valued at $25,000 after purchasing an additional 91,578 shares in the last quarter. Riggs Asset Managment Co. Inc. increased its stake 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 worth $27,000 after acquiring an additional 1,116 shares during the last quarter. American Capital Advisory LLC raised its holdings 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 acquiring an additional 807 shares during the period. Altshuler Shaham Ltd purchased a new stake in shares of AT&T in the second quarter valued at about $30,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in AT&T by 176.6% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company's stock worth $35,000 after purchasing an additional 1,192 shares during the last quarter. 57.10% of the stock is currently 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.