Oppenheimer Raises AT&T (NYSE:T) Price Target to $24.00

AT&T (NYSE:T - Free Report) had its target price upped by Oppenheimer from $23.00 to $24.00 in a research report report published on Thursday morning, Benzinga reports. They currently have an outperform rating on the technology company's stock.

Several other equities research analysts also recently issued reports on T. Deutsche Bank Aktiengesellschaft raised their target price on shares of AT&T from $24.00 to $26.00 and gave the company a "buy" rating in a research note on Friday, June 28th. JPMorgan Chase & Co. raised their price target on AT&T from $21.00 to $24.00 and gave the company an "overweight" rating in a report on Thursday, July 25th. Hsbc Global Res upgraded shares of AT&T to a "strong-buy" rating in a report on Tuesday, October 1st. Royal Bank of Canada lifted their price target on AT&T from $18.00 to $19.00 and gave the stock a "sector perform" rating in a report on Thursday, July 25th. Finally, Tigress Financial lifted their price objective on shares of AT&T from $29.00 to $30.00 and gave the stock a "buy" rating in a research note on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $23.40.

AT&T Stock Down 1.3 %

T stock traded down $0.29 during midday trading on Thursday, hitting $22.20. The company's stock had a trading volume of 38,762,363 shares, compared to its average volume of 35,760,910. The company's fifty day moving average price is $21.09 and its 200 day moving average price is $19.06. AT&T has a twelve month low of $14.74 and a twelve month high of $22.58. 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 capitalization of $159.18 billion, a P/E ratio of 12.74, a PEG ratio of 3.67 and a beta of 0.60.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.57 by $0.03. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The company had revenue of $30.20 billion for the quarter, compared to analysts' expectations of $30.50 billion. During the same quarter in the prior year, the business posted $0.64 EPS. The business's revenue was down .5% compared to the same quarter last year. As a group, equities research analysts predict that AT&T will post 2.22 EPS for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 5.00%. The ex-dividend date is Thursday, October 10th. AT&T's payout ratio is 63.79%.

Institutional Trading of AT&T

A number of hedge funds have recently bought and sold shares of the company. State of Alaska Department of Revenue boosted its holdings in AT&T by 5.8% during the 3rd quarter. State of Alaska Department of Revenue now owns 963,109 shares of the technology company's stock valued at $21,187,000 after acquiring an additional 53,190 shares during the period. Smith Salley Wealth Management grew its holdings in shares of AT&T by 3.5% in the third quarter. Smith Salley Wealth Management now owns 110,897 shares of the technology company's stock worth $2,440,000 after purchasing an additional 3,786 shares during the last quarter. Bristlecone Advisors LLC purchased a new position in shares of AT&T in the third quarter worth $212,000. DekaBank Deutsche Girozentrale raised its holdings in AT&T by 0.4% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 2,390,279 shares of the technology company's stock valued at $52,442,000 after buying an additional 8,541 shares during the last quarter. Finally, Modera Wealth Management LLC grew its holdings in AT&T by 23.1% in the 3rd quarter. Modera Wealth Management LLC now owns 56,875 shares of the technology company's stock worth $1,251,000 after acquiring an additional 10,654 shares during the last quarter. Institutional investors own 57.10% of the company's stock.

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.