AT&T (NYSE:T) Price Target Raised to $26.00 at Citigroup

AT&T (NYSE:T) had its target price increased by Citigroup from $24.00 to $26.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a buy rating on the technology company’s stock.

Several other research firms have also weighed in on T. Oppenheimer lifted their price objective on AT&T from $23.00 to $24.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Barclays raised their price target on shares of AT&T from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Scotiabank lowered AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Moffett Nathanson upped their target price on shares of AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Finally, Redburn Atlantic raised AT&T to a “strong sell” rating in a research report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $23.53.

AT&T Stock Down 0.5 %

Shares of T opened at $23.16 on Wednesday. AT&T has a 52 week low of $15.94 and a 52 week high of $23.38. The stock has a fifty day moving average of $22.17 and a 200-day moving average of $20.13. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The stock has a market capitalization of $166.18 billion, a price-to-earnings ratio of 18.83, a PEG ratio of 3.49 and a beta of 0.59.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. 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 previous year, the firm posted $0.64 earnings per share. AT&T’s revenue for the quarter was down .5% on a year-over-year basis. As a group, sell-side analysts anticipate that AT&T will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were issued a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.79%. AT&T’s dividend payout ratio (DPR) is 90.24%.

Hedge Funds Weigh In On AT&T

Several institutional investors and hedge funds have recently modified their holdings of T. Davidson Kempner Capital Management LP bought a new position in AT&T during the second quarter valued at approximately $23,888,000. Swiss National Bank increased its holdings in AT&T by 0.5% in the 3rd quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock worth $468,217,000 after acquiring an additional 104,700 shares in the last quarter. Caprock Group LLC raised its position in shares of AT&T by 18.3% during the 3rd quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock valued at $4,312,000 after purchasing an additional 30,281 shares during the period. Talbot Financial LLC bought a new position in shares of AT&T in the third quarter worth about $7,438,000. Finally, Mackenzie Financial Corp grew its holdings in AT&T by 12.2% during the 2nd quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock valued at $50,486,000 after buying an additional 288,093 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

About AT&T

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.