AT&T (NYSE:T) Price Target Raised to $30.00 at UBS Group

AT&T (NYSE:T) had its target price increased by UBS Group from $25.00 to $30.00 in a report released on Thursday morning,Benzinga reports. UBS Group currently has a buy rating on the technology company’s stock.

Several other equities research analysts also recently commented on T. Morgan Stanley raised shares of AT&T from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $19.00 to $28.00 in a research note on Monday, December 16th. Citigroup upped their price objective on shares of AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Wells Fargo & Company dropped their price objective on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Evercore ISI boosted their target price on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research note on Thursday, October 24th. Finally, Sanford C. Bernstein began coverage on AT&T in a research report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price target on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and an average target price of $25.53.

AT&T Stock Performance

T stock opened at $22.75 on Thursday. AT&T has a twelve month low of $15.94 and a twelve month high of $24.03. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The company has a market cap of $163.24 billion, a P/E ratio of 18.50, a price-to-earnings-growth ratio of 3.60 and a beta of 0.59. The business’s fifty day moving average is $22.61 and its 200-day moving average is $20.74.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.03. The firm had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.64 earnings per share. Equities research analysts forecast that AT&T will post 2.19 EPS for the current year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be paid a $0.2775 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 annualized dividend and a yield of 4.88%. AT&T’s payout ratio is currently 90.24%.

Institutional Trading of AT&T

Institutional investors and hedge funds have recently bought and sold shares of the stock. Davidson Kempner Capital Management LP acquired a new stake in AT&T in the second quarter valued at $23,888,000. Swiss National Bank raised its holdings in shares of AT&T by 0.5% in the 3rd quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock valued at $468,217,000 after purchasing an additional 104,700 shares during the period. Franklin Resources Inc. lifted its stake in AT&T by 41.4% in the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock valued at $168,969,000 after purchasing an additional 2,326,904 shares during the last quarter. Caprock Group LLC grew its holdings in AT&T by 18.3% during the third quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock worth $4,312,000 after purchasing an additional 30,281 shares during the period. Finally, Talbot Financial LLC acquired a new position in AT&T during the third quarter worth approximately $7,438,000. Institutional investors own 57.10% of the company’s stock.

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.