AT&T (NYSE:T) Price Target Increased to $23.00 by Analysts at TD Cowen

AT&T (NYSE:T) had its price target upped by TD Cowen from $21.00 to $23.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a hold rating on the technology company’s stock.

A number of other equities analysts also recently commented on T. UBS Group reiterated a buy rating and issued a $24.00 target price on shares of AT&T in a report on Tuesday, June 18th. StockNews.com downgraded shares of AT&T from a buy rating to a hold rating in a report on Friday, May 3rd. Royal Bank of Canada upped their price objective on shares of AT&T from $18.00 to $19.00 and gave the company a sector perform rating in a report on Thursday. Scotiabank upped their price objective on shares of AT&T from $23.00 to $24.00 and gave the company a sector outperform rating in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of AT&T from $24.00 to $26.00 and gave the company a buy rating in a report on Friday, June 28th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $22.33.

AT&T Stock Performance

Shares of AT&T stock opened at $19.01 on Thursday. The company has a market capitalization of $136.30 billion, a PE ratio of 10.22, a P/E/G ratio of 3.65 and a beta of 0.58. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.63 and a current ratio of 0.70. The company has a 50-day simple moving average of $18.32 and a two-hundred day simple moving average of $17.47. AT&T has a one year low of $13.89 and a one year high of $19.74.

AT&T (NYSE:T) last announced its earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, hitting analysts’ consensus estimates of $0.57. The business had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The firm’s revenue was down .3% on a year-over-year basis. During the same period in the previous year, the company posted $0.63 earnings per share. Research analysts expect that AT&T will post 2.21 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be given a $0.2775 dividend. The ex-dividend date is Wednesday, July 10th. This represents a $1.11 annualized dividend and a yield of 5.84%. AT&T’s dividend payout ratio is presently 59.68%.

Institutional Investors Weigh In On AT&T

Hedge funds have recently bought and sold shares of the stock. Cantor Fitzgerald Investment Advisors L.P. purchased a new stake in AT&T in the 4th quarter worth approximately $11,554,000. Provence Wealth Management Group boosted its position in AT&T by 55.8% in the 4th quarter. Provence Wealth Management Group now owns 16,217 shares of the technology company’s stock worth $272,000 after purchasing an additional 5,807 shares in the last quarter. Clearbridge Investments LLC boosted its position in AT&T by 250.3% in the 4th quarter. Clearbridge Investments LLC now owns 67,303 shares of the technology company’s stock worth $1,129,000 after purchasing an additional 48,091 shares in the last quarter. Retireful LLC purchased a new stake in AT&T in the 4th quarter worth approximately $1,163,000. Finally, Brighton Jones LLC boosted its position in AT&T by 12.6% in the 4th quarter. Brighton Jones LLC now owns 46,265 shares of the technology company’s stock worth $776,000 after purchasing an additional 5,161 shares in the last quarter. Hedge funds and other 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.