Brokerages Set AT&T Inc. (NYSE:T) PT at $30.75

AT&T Inc. (NYSE:T) has been assigned an average rating of “Moderate Buy” from the twenty-four ratings firms that are currently covering the stock, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation, sixteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $30.75.

T has been the subject of several analyst reports. Sanford C. Bernstein upped their target price on AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, September 4th. Hsbc Global Res downgraded AT&T from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 24th. Morgan Stanley upped their target price on AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 16th. Scotiabank set a $30.25 target price on AT&T and gave the stock a “sector perform” rating in a research report on Monday, October 6th. Finally, UBS Group set a $33.00 target price on AT&T in a research report on Thursday, September 18th.

Institutional Investors Weigh In On AT&T

Several institutional investors and hedge funds have recently modified their holdings of T. J. L. Bainbridge & Co. Inc. increased its stake in shares of AT&T by 1.7% during the second quarter. J. L. Bainbridge & Co. Inc. now owns 21,253 shares of the technology company’s stock valued at $615,000 after buying an additional 355 shares during the period. Financial & Tax Architects LLC lifted its stake in AT&T by 4.9% in the second quarter. Financial & Tax Architects LLC now owns 7,588 shares of the technology company’s stock worth $220,000 after acquiring an additional 356 shares during the period. Roberts Glore & Co. Inc. IL grew its holdings in AT&T by 2.0% during the 2nd quarter. Roberts Glore & Co. Inc. IL now owns 18,386 shares of the technology company’s stock worth $532,000 after acquiring an additional 357 shares in the last quarter. Investment Partners LTD. grew its holdings in AT&T by 3.5% during the 2nd quarter. Investment Partners LTD. now owns 10,464 shares of the technology company’s stock worth $303,000 after acquiring an additional 357 shares in the last quarter. Finally, Parcion Private Wealth LLC grew its holdings in AT&T by 2.5% during the 2nd quarter. Parcion Private Wealth LLC now owns 14,910 shares of the technology company’s stock worth $431,000 after acquiring an additional 364 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

T stock opened at $25.85 on Friday. The stock has a 50-day moving average price of $28.45 and a two-hundred day moving average price of $27.88. AT&T has a 12-month low of $21.05 and a 12-month high of $29.79. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. The company has a market cap of $184.82 billion, a PE ratio of 14.69, a price-to-earnings-growth ratio of 2.10 and a beta of 0.42.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The firm had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. During the same quarter in the previous year, the business earned $0.51 earnings per share. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. As a group, research analysts predict that AT&T will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be given a $0.2775 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.3%. AT&T’s dividend payout ratio is presently 63.07%.

About AT&T

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.