AT&T (NYSE:T) Receives “Buy” Rating from UBS Group

UBS Group reaffirmed their buy rating on shares of AT&T (NYSE:T) in a research note published on Tuesday morning, Benzinga reports. UBS Group currently has a $24.00 target price on the technology company’s stock.

A number of other analysts have also recently weighed in on the stock. Scotiabank boosted their target price on shares of AT&T from $22.00 to $22.50 and gave the stock a sector outperform rating in a research note on Thursday, April 25th. Royal Bank of Canada reaffirmed a sector perform rating and set a $17.00 target price on shares of AT&T in a research note on Thursday, April 11th. StockNews.com cut shares of AT&T from a buy rating to a hold rating in a research note on Friday, May 3rd. Barclays raised shares of AT&T from an equal weight rating to an overweight rating and set a $20.00 target price on the stock in a research note on Monday, April 29th. Finally, Wolfe Research upgraded shares of AT&T from a peer perform rating to an outperform rating and set a $21.00 price target on the stock in a report on Tuesday, March 5th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $21.54.

AT&T Stock Up 2.3 %

NYSE T opened at $18.07 on Tuesday. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.06. AT&T has a 1-year low of $13.43 and a 1-year high of $18.45. The company has a 50 day moving average of $17.22 and a 200-day moving average of $17.08. The company has a market cap of $129.56 billion, a price-to-earnings ratio of 9.72, a PEG ratio of 3.47 and a beta of 0.60.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The company had revenue of $30.03 billion during the quarter, compared to the consensus estimate of $30.62 billion. During the same period in the previous year, the business earned $0.60 earnings per share. The firm’s quarterly revenue was down .4% on a year-over-year basis. On average, equities research analysts expect that AT&T will post 2.24 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 6.14%. The ex-dividend date was Tuesday, April 9th. AT&T’s payout ratio is 59.68%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Frank Rimerman Advisors LLC bought a new position in shares of AT&T during the 4th quarter valued at approximately $25,000. Pineridge Advisors LLC bought a new position in shares of AT&T during the 4th quarter valued at approximately $25,000. First Pacific Financial lifted its stake in shares of AT&T by 166.7% during the 1st quarter. First Pacific Financial now owns 1,600 shares of the technology company’s stock valued at $28,000 after buying an additional 1,000 shares in the last quarter. Ramirez Asset Management Inc. purchased a new stake in shares of AT&T during the 3rd quarter valued at approximately $30,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA lifted its stake in shares of AT&T by 35.3% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock valued at $39,000 after buying an additional 606 shares in the last quarter. 57.10% of the stock is owned by institutional investors.

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.