AT&T (NYSE:T) Stock Price Expected to Rise, Scotiabank Analyst Says

AT&T (NYSE:T) had its target price boosted by Scotiabank from $29.00 to $29.50 in a research note published on Thursday morning,Benzinga reports. They currently have a sector outperform rating on the technology company’s stock.

A number of other research analysts also recently issued reports on the stock. Wells Fargo & Company boosted their price objective on shares of AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday. DZ Bank upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research report on Wednesday, January 29th. Evercore ISI increased their price target on shares of AT&T from $25.00 to $27.00 and gave the stock an “in-line” rating in a research note on Thursday. Williams Trading set a $30.00 price objective on AT&T in a research report on Thursday. Finally, Oppenheimer increased their target price on AT&T from $27.00 to $32.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, AT&T has an average rating of “Moderate Buy” and a consensus target price of $28.62.

AT&T Stock Down 2.7 %

NYSE T opened at $26.80 on Thursday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The stock has a market capitalization of $192.38 billion, a PE ratio of 17.99, a PEG ratio of 3.00 and a beta of 0.42. AT&T has a 1 year low of $16.73 and a 1 year high of $29.03. The business’s 50-day moving average is $26.96 and its 200 day moving average is $24.33.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). AT&T had a return on equity of 13.97% and a net margin of 8.95%. The business had revenue of $30.63 billion during the quarter, compared to the consensus estimate of $30.39 billion. Sell-side analysts forecast that AT&T will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be paid a $0.2775 dividend. The ex-dividend date is Thursday, April 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.14%. AT&T’s dividend payout ratio is presently 68.10%.

Institutional Investors Weigh In On AT&T

Institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank bought a new position in shares of AT&T during the fourth quarter valued at $1,858,418,000. GQG Partners LLC raised its position in AT&T by 37.3% in the 4th quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock worth $2,203,667,000 after buying an additional 26,280,866 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in AT&T by 31.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company’s stock valued at $1,216,665,000 after acquiring an additional 12,881,578 shares during the period. Northern Trust Corp boosted its holdings in shares of AT&T by 16.3% during the 4th quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company’s stock valued at $1,779,438,000 after acquiring an additional 10,945,679 shares during the last quarter. Finally, Assetmark Inc. grew its stake in shares of AT&T by 4,986.1% in the fourth quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company’s stock worth $225,741,000 after acquiring an additional 9,719,036 shares during the period. Institutional investors own 57.10% of the company’s stock.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.