Deutsche Bank Aktiengesellschaft Boosts AT&T (NYSE:T) Price Target to $26.00

AT&T (NYSE:T) had its target price lifted by Deutsche Bank Aktiengesellschaft from $24.00 to $26.00 in a report issued on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

Several other research firms have also commented on T. Wolfe Research upgraded shares of AT&T from a peer perform rating to an outperform rating and set a $21.00 price target on the stock in a research report on Tuesday, March 5th. Oppenheimer reaffirmed an outperform rating and set a $21.00 price objective on shares of AT&T in a report on Tuesday, June 25th. UBS Group reaffirmed a buy rating and set a $24.00 price objective on shares of AT&T in a report on Tuesday, June 18th. Barclays raised shares of AT&T from an equal weight rating to an overweight rating and set a $20.00 price objective on the stock in a report on Monday, April 29th. Finally, StockNews.com downgraded shares of AT&T from a buy rating to a hold rating in a report on Friday, May 3rd. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, AT&T currently has an average rating of Moderate Buy and a consensus price target of $21.73.

AT&T Price Performance

Shares of T opened at $18.98 on Friday. The company has a 50 day moving average price of $17.57 and a 200-day moving average price of $17.18. AT&T has a fifty-two week low of $13.43 and a fifty-two week high of $19.32. The stock has a market capitalization of $136.09 billion, a PE ratio of 10.20, a PEG ratio of 4.34 and a beta of 0.60. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.63 and a current ratio of 0.68.

AT&T (NYSE:T) last posted its earnings results on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The company had revenue of $30.03 billion during the quarter, compared to analysts’ expectations of $30.62 billion. During the same quarter in the prior year, the company posted $0.60 earnings per share. AT&T’s revenue for the quarter was down .4% compared to the same quarter last year. Equities analysts predict that AT&T will post 2.24 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 5.85%. The ex-dividend date of this dividend is Wednesday, July 10th. AT&T’s dividend payout ratio is currently 59.68%.

Institutional Trading of AT&T

Several hedge funds have recently made changes to their positions in T. Texas Capital Bank Wealth Management Services Inc raised its stake in shares of AT&T by 1.7% during the fourth quarter. Texas Capital Bank Wealth Management Services Inc now owns 35,098 shares of the technology company’s stock valued at $589,000 after purchasing an additional 598 shares during the period. Klingman & Associates LLC raised its stake in shares of AT&T by 3.1% during the first quarter. Klingman & Associates LLC now owns 19,889 shares of the technology company’s stock valued at $350,000 after purchasing an additional 603 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA raised its stake in shares of AT&T by 35.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock valued at $39,000 after purchasing an additional 606 shares during the period. JB Capital LLC raised its stake in shares of AT&T by 2.4% during the fourth quarter. JB Capital LLC now owns 26,620 shares of the technology company’s stock valued at $447,000 after purchasing an additional 614 shares during the period. Finally, Fortitude Family Office LLC raised its stake in shares of AT&T by 1.5% during the first quarter. Fortitude Family Office LLC now owns 41,595 shares of the technology company’s stock valued at $732,000 after purchasing an additional 614 shares during the period. Institutional investors and hedge funds 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.