AT&T (NYSE:T) Receives Outperform Rating from Oppenheimer

Oppenheimer reaffirmed their outperform rating on shares of AT&T (NYSE:T) in a report released on Tuesday, Benzinga reports. Oppenheimer currently has a $21.00 price target on the technology company’s stock.

Other equities analysts also recently issued research reports about the company. BNP Paribas upgraded AT&T from an underperform rating to a neutral rating in a research report on Tuesday, June 11th. Wolfe Research upgraded AT&T from a peer perform rating to an outperform rating and set a $21.00 price objective for the company in a research report on Tuesday, March 5th. Scotiabank lifted their price objective on AT&T from $22.00 to $22.50 and gave the company a sector outperform rating in a research report on Thursday, April 25th. UBS Group reiterated a buy rating and issued a $24.00 price objective on shares of AT&T in a research report on Tuesday, June 18th. Finally, StockNews.com downgraded AT&T from a buy rating to a hold rating in a research report on Friday, May 3rd. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, AT&T has an average rating of Moderate Buy and an average target price of $21.71.

AT&T Price Performance

Shares of NYSE:T opened at $19.13 on Tuesday. AT&T has a 1-year low of $13.43 and a 1-year high of $19.13. The firm has a market capitalization of $137.17 billion, a PE ratio of 10.28, a PEG ratio of 4.26 and a beta of 0.60. The business’s 50 day moving average is $17.57 and its 200-day moving average is $17.17. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.06.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The business had revenue of $30.03 billion for the quarter, compared to analyst estimates of $30.62 billion. During the same quarter in the previous year, the firm earned $0.60 EPS. AT&T’s quarterly revenue was down .4% on a year-over-year basis. Sell-side analysts predict that AT&T will post 2.24 earnings per share for the current year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.80%. AT&T’s dividend payout ratio is currently 59.68%.

Institutional Trading of AT&T

Several institutional investors and hedge funds have recently bought and sold shares of T. Bright Futures Wealth Management LLC. bought a new position in shares of AT&T during the first quarter worth approximately $207,000. Old Port Advisors increased its stake in shares of AT&T by 10.1% during the first quarter. Old Port Advisors now owns 108,875 shares of the technology company’s stock worth $1,916,000 after purchasing an additional 9,991 shares during the period. Abich Financial Wealth Management LLC increased its stake in shares of AT&T by 54.6% during the first quarter. Abich Financial Wealth Management LLC now owns 9,161 shares of the technology company’s stock worth $161,000 after purchasing an additional 3,237 shares during the period. Keynote Financial Services LLC bought a new position in shares of AT&T during the first quarter worth approximately $1,922,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of AT&T by 59.7% during the first quarter. EverSource Wealth Advisors LLC now owns 16,930 shares of the technology company’s stock worth $286,000 after purchasing an additional 6,327 shares during the period. Institutional investors own 57.10% of the company’s stock.

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.