Citigroup Inc. Raises AT&T Inc. (T) Price Target to $54.00
AT&T Inc. (NYSE:T) had its price target increased by Citigroup Inc. from $52.00 to $54.00 in a report issued on Friday morning. The brokerage currently has a buy rating on the technology company’s stock.
A number of other equities research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of AT&T from a hold rating to a sell rating in a report on Thursday, October 26th. Barclays PLC cut their price target on shares of AT&T from $41.00 to $39.00 and set an equal weight rating on the stock in a report on Friday, July 14th. Vetr lowered shares of AT&T from a strong-buy rating to a buy rating and set a $42.75 price target on the stock. in a report on Tuesday, September 26th. Deutsche Bank AG cut their price target on shares of AT&T from $41.00 to $38.00 and set a hold rating on the stock in a report on Wednesday, October 25th. Finally, Moffett Nathanson restated a neutral rating on shares of AT&T in a report on Monday, October 16th. One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $43.48.
AT&T (NYSE:T) traded up $0.22 during midday trading on Friday, hitting $34.22. 57,476,500 shares of the company were exchanged, compared to its average volume of 24,459,395. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.60 and a quick ratio of 1.60. AT&T has a twelve month low of $32.55 and a twelve month high of $43.03. The company has a market cap of $209,770.00, a P/E ratio of 11.68, a P/E/G ratio of 2.76 and a beta of 0.41.
AT&T (NYSE:T) last released its earnings results on Tuesday, October 24th. The technology company reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.01). AT&T had a return on equity of 14.49% and a net margin of 8.00%. The business had revenue of $39.67 billion during the quarter, compared to the consensus estimate of $40.34 billion. During the same quarter in the previous year, the firm earned $0.74 earnings per share. The firm’s revenue for the quarter was down 3.0% compared to the same quarter last year. analysts forecast that AT&T will post 2.93 EPS for the current year.
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The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th were paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 5.73%. The ex-dividend date of this dividend was Friday, October 6th. AT&T’s dividend payout ratio is 94.23%.
In other AT&T news, Director Matthew K. Rose acquired 29,600 shares of the company’s stock in a transaction dated Wednesday, October 25th. The stock was bought at an average price of $33.75 per share, for a total transaction of $999,000.00. Following the purchase, the director now owns 3,100 shares in the company, valued at approximately $104,625. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.09% of the company’s stock.
Several institutional investors have recently made changes to their positions in T. OLD Dominion Capital Management Inc. increased its position in shares of AT&T by 30.6% during the 1st quarter. OLD Dominion Capital Management Inc. now owns 22,747 shares of the technology company’s stock worth $945,000 after purchasing an additional 5,331 shares in the last quarter. Sigma Planning Corp increased its position in shares of AT&T by 0.3% during the 1st quarter. Sigma Planning Corp now owns 217,020 shares of the technology company’s stock worth $9,017,000 after purchasing an additional 609 shares in the last quarter. Rehmann Capital Advisory Group grew its holdings in AT&T by 9.0% during the 1st quarter. Rehmann Capital Advisory Group now owns 58,509 shares of the technology company’s stock worth $2,431,000 after acquiring an additional 4,818 shares during the last quarter. UMB Bank N A MO grew its holdings in AT&T by 3.9% during the 1st quarter. UMB Bank N A MO now owns 531,748 shares of the technology company’s stock worth $22,094,000 after acquiring an additional 20,131 shares during the last quarter. Finally, IFC Holdings Incorporated FL grew its holdings in AT&T by 5.4% during the 1st quarter. IFC Holdings Incorporated FL now owns 166,931 shares of the technology company’s stock worth $6,933,000 after acquiring an additional 8,611 shares during the last quarter. Institutional investors and hedge funds own 55.21% of the company’s stock.
AT&T Company Profile
AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.
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