Analysts Set AT&T Inc. (NYSE:T) Target Price at $28.90

Shares of AT&T Inc. (NYSE:T - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the twenty-four research firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $28.90.

Several equities research analysts recently commented on the company. Tigress Financial increased their price objective on AT&T from $32.00 to $34.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Royal Bank Of Canada upped their target price on shares of AT&T from $28.00 to $30.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Cowen reiterated a "hold" rating on shares of AT&T in a research note on Thursday, April 24th. Williams Trading set a $30.00 price objective on shares of AT&T in a report on Thursday, April 24th. Finally, Citigroup restated a "buy" rating on shares of AT&T in a report on Tuesday, June 17th.

Hedge Funds Weigh In On AT&T

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in T. Brighton Jones LLC increased its stake in AT&T by 26.5% during the fourth quarter. Brighton Jones LLC now owns 48,579 shares of the technology company's stock worth $1,106,000 after acquiring an additional 10,188 shares during the last quarter. Fidelis Capital Partners LLC lifted its holdings in shares of AT&T by 20.1% in the 4th quarter. Fidelis Capital Partners LLC now owns 40,505 shares of the technology company's stock worth $982,000 after acquiring an additional 6,782 shares during the last quarter. Grandfield & Dodd LLC purchased a new position in shares of AT&T during the 4th quarter worth about $206,000. Mission Wealth Management LP boosted its stake in shares of AT&T by 12.8% during the 4th quarter. Mission Wealth Management LP now owns 47,859 shares of the technology company's stock worth $1,090,000 after purchasing an additional 5,423 shares during the period. Finally, Meridian Wealth Management LLC grew its holdings in AT&T by 1.7% during the 4th quarter. Meridian Wealth Management LLC now owns 60,044 shares of the technology company's stock valued at $1,367,000 after purchasing an additional 1,010 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

AT&T Trading Up 0.1%

Shares of T traded up $0.02 during mid-day trading on Wednesday, hitting $28.33. 21,085,177 shares of the company's stock traded hands, compared to its average volume of 36,473,882. The company has a quick ratio of 0.65, a current ratio of 0.70 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $203.82 billion, a P/E ratio of 17.38, a PEG ratio of 4.02 and a beta of 0.42. The business's 50-day moving average price is $27.74 and its 200-day moving average price is $26.05. AT&T has a 1 year low of $18.14 and a 1 year high of $29.19.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). AT&T had a net margin of 9.64% and a return on equity of 13.63%. The firm had revenue of $30.63 billion for the quarter, compared to analysts' expectations of $30.39 billion. During the same period in the prior year, the business posted $0.55 EPS. The business's quarterly revenue was up 2.0% compared to the same quarter last year. As a group, sell-side analysts forecast that AT&T will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be issued a $0.2775 dividend. The ex-dividend date is Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 3.92%. AT&T's dividend payout ratio is presently 68.10%.

AT&T Company Profile

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.