Analysts Set AT&T Inc. (NYSE:T) Price Target at $29.36

AT&T Inc. (NYSE:T) has been assigned an average rating of “Moderate Buy” from the twenty-five ratings firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $29.75.

T has been the topic of a number of recent analyst reports. Wells Fargo & Company cut their target price on AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a research report on Thursday, October 16th. Barclays dropped their price target on AT&T from $28.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 13th. The Goldman Sachs Group reduced their price objective on shares of AT&T from $33.00 to $29.00 and set a “buy” rating for the company in a research note on Friday, December 19th. Weiss Ratings reissued a “buy (b-)” rating on shares of AT&T in a research report on Monday, December 29th. Finally, Loop Capital set a $29.00 price target on shares of AT&T in a research report on Friday, December 19th.

AT&T Trading Down 0.1%

Shares of NYSE:T opened at $23.56 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.96 and a current ratio of 1.01. The stock has a market capitalization of $166.99 billion, a price-to-earnings ratio of 7.65, a PEG ratio of 1.29 and a beta of 0.39. AT&T has a 1-year low of $22.54 and a 1-year high of $29.79. The company has a 50 day moving average price of $24.62 and a 200 day moving average price of $26.44.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, October 22nd. The technology company reported $0.54 EPS for the quarter, meeting analysts’ consensus estimates of $0.54. The company had revenue of $30.71 billion during the quarter, compared to the consensus estimate of $30.85 billion. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The company’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.60 EPS. On average, research analysts anticipate that AT&T will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 12th will be paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Monday, January 12th. AT&T’s payout ratio is 36.04%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Front Row Advisors LLC purchased a new position in AT&T during the 2nd quarter valued at about $25,000. Mountain Hill Investment Partners Corp. lifted its position in shares of AT&T by 363.7% in the third quarter. Mountain Hill Investment Partners Corp. now owns 895 shares of the technology company’s stock worth $25,000 after purchasing an additional 702 shares in the last quarter. GGM Financials LLC acquired a new stake in shares of AT&T during the third quarter worth approximately $25,000. OFI Invest Asset Management grew its position in AT&T by 84.2% during the fourth quarter. OFI Invest Asset Management now owns 1,087,055 shares of the technology company’s stock valued at $27,000 after purchasing an additional 496,804 shares in the last quarter. Finally, Kennebec Savings Bank increased its stake in AT&T by 412.1% in the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after buying an additional 783 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Company Profile

AT&T Inc is a global telecommunications company that provides a broad range of communications and digital entertainment services. Its core activities include consumer and business wireless services, broadband and fiber internet, and network infrastructure. The company operates branded wireless services through AT&T Mobility and deploys fixed-line and fiber networks to deliver high-speed internet and related home services.

AT&T’s product and service portfolio spans mobile voice and data plans, smartphones and device sales, home internet (including fiber-to-the-home where available), and managed connectivity solutions for enterprise customers.