AT&T Inc. (T) Stock Rating Upgraded by Zacks Investment Research
AT&T Inc. (NYSE:T) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.
According to Zacks, “Acquisitions and strategic collaborations have played a major role in shaping AT&T’s growth. The acquisition of DIRECTV and QuickPlay Media Inc. by AT&T has positioned it as the leader in the U.S. pay-TV market and boosted AT&T’s earnings and revenues. AT&T’s recent collaboration with Intel should boost software-based network services and IoT. Additionally, AT&T is focused on expanding its 4G LTE wireless networks and field testing the next-gen 5G technology. However, AT&T operates in a saturated wireless market where spectrum crunch is a big issue. Moreover, loss in access lines, stringent regulatory measures and union issues are major headwinds. Additionally, persistent losses in its wireline division is a worry. The company has also been facing intense competition from peers, compelling it to lower the price of its services. This will dent AT&T's margins going ahead.”
T has been the topic of several other reports. Vetr cut shares of AT&T from a “hold” rating to a “sell” rating and set a $38.71 price target on the stock. in a research report on Tuesday, June 21st. Barclays PLC reissued a “buy” rating on shares of AT&T in a report on Sunday, July 17th. S&P Equity Research set a $46.00 target price on shares of AT&T and gave the stock a “buy” rating in a research report on Sunday, July 24th. FBR & Co increased their target price on shares of AT&T from $38.00 to $42.00 and gave the stock a “market perform” rating in a research report on Friday, July 22nd. Finally, Robert W. Baird restated a “neutral” rating and set a $41.00 target price on shares of AT&T in a research report on Tuesday, June 28th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $41.86.
AT&T (NYSE:T) opened at 39.22 on Monday. The stock has a 50 day moving average price of $40.33 and a 200-day moving average price of $40.51. The firm has a market capitalization of $241.28 billion, a PE ratio of 16.91 and a beta of 0.30. AT&T has a 12-month low of $32.22 and a 12-month high of $43.89.
AT&T (NYSE:T) last released its quarterly earnings data on Thursday, July 21st. The company reported $0.72 earnings per share for the quarter, hitting the consensus estimate of $0.72. The business earned $40.50 billion during the quarter, compared to analyst estimates of $40.75 billion. AT&T had a return on equity of 13.93% and a net margin of 8.76%. On average, equities research analysts forecast that AT&T will post $2.86 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Monday, October 10th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 4.90%. The ex-dividend date of this dividend is Wednesday, October 5th. AT&T’s dividend payout ratio is presently 83.12%.
In other news, CEO John T. Stankey sold 2,131 shares of the company’s stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $43.38, for a total value of $92,442.78. Following the completion of the sale, the chief executive officer now owns 13,583 shares of the company’s stock, valued at approximately $589,230.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.07% of the company’s stock.
A number of large investors have recently bought and sold shares of T. RKL Wealth Management LLC raised its position in shares of AT&T by 133.0% in the first quarter. RKL Wealth Management LLC now owns 27,684 shares of the company’s stock valued at $1,084,000 after buying an additional 15,800 shares during the period. St. Johns Investment Management Company LLC raised its position in shares of AT&T by 2.8% in the first quarter. St. Johns Investment Management Company LLC now owns 26,484 shares of the company’s stock valued at $1,037,000 after buying an additional 725 shares during the period. Sumitomo Life Insurance Co. raised its position in shares of AT&T by 10.7% in the first quarter. Sumitomo Life Insurance Co. now owns 298,439 shares of the company’s stock valued at $11,690,000 after buying an additional 28,762 shares during the period. Chesley Taft & Associates LLC raised its position in shares of AT&T by 11.5% in the first quarter. Chesley Taft & Associates LLC now owns 90,678 shares of the company’s stock valued at $3,552,000 after buying an additional 9,343 shares during the period. Finally, Wilbanks Smith & Thomas Asset Management LLC raised its position in shares of AT&T by 3.3% in the first quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 61,028 shares of the company’s stock valued at $2,390,000 after buying an additional 1,973 shares during the period. Institutional investors own 53.62% of the company’s stock.
AT&T Inc is a holding company. The Company offers communications and digital entertainment services in the United States and the world. It operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Business Solutions segment includes various categories, including wireless service, fixed strategic services, legacy voice and data services, other services and wireless equipment.
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