Oppenheimer Issues Positive Forecast for AT&T (NYSE:T) Stock Price

AT&T (NYSE:T) had its price target increased by Oppenheimer from $24.00 to $27.00 in a report published on Wednesday,Benzinga reports. Oppenheimer currently has an outperform rating on the technology company’s stock.

Several other equities analysts also recently weighed in on the stock. Wells Fargo & Company reduced their target price on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Citigroup lifted their price objective on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Royal Bank of Canada reissued a “sector perform” rating and set a $22.00 target price on shares of AT&T in a 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. Finally, Evercore ISI lifted their price target on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $24.73.

AT&T Price Performance

AT&T stock opened at $23.88 on Wednesday. The business’s 50 day simple moving average is $22.32 and its 200 day simple moving average is $20.30. AT&T has a 12 month low of $15.94 and a 12 month high of $24.03. The company has a market cap of $171.35 billion, a price-to-earnings ratio of 19.41, a PEG ratio of 3.56 and a beta of 0.59. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The firm had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.64 EPS. Sell-side analysts forecast that AT&T will post 2.22 EPS for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were given a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.65%. The ex-dividend date was Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is 90.24%.

Institutional Trading of AT&T

A number of hedge funds have recently made changes to their positions in T. Strategic Financial Concepts LLC lifted its position in AT&T by 227.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after buying an additional 91,578 shares during the last quarter. Legacy Investment Solutions LLC purchased a new position in shares of AT&T during the third quarter worth approximately $25,000. Riggs Asset Managment Co. Inc. raised its stake in shares of AT&T by 356.5% during the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after acquiring an additional 1,116 shares in the last quarter. Ritter Daniher Financial Advisory LLC DE lifted its holdings in shares of AT&T by 169.2% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after acquiring an additional 841 shares during the last quarter. Finally, American Capital Advisory LLC boosted its stake in shares of AT&T by 107.5% in the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after purchasing an additional 807 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.