Brokerages Set AT&T Inc. (NYSE:T) PT at $30.21

Key Points

• AT&T Inc. has received an average rating of "Moderate Buy" from 24 brokerages, with 17 analysts issuing buy ratings and one issuing a strong buy rating.
• The average 12-month price target for AT&T stock is $30.21, with recent price objectives raised by various firms including Morgan Stanley and JPMorgan Chase.
• AT&T recently declared a quarterly dividend of $0.2775 per share, resulting in an annualized dividend of $1.11 and a yield of 3.8%.

Shares of AT&T Inc. (NYSE:T - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the twenty-four brokerages that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, seventeen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $30.2143.

Several brokerages have issued reports on T. Raymond James Financial reaffirmed a "strong-buy" rating and set a $31.00 price objective (up previously from $30.00) on shares of AT&T in a report on Thursday, July 24th. Barclays raised their price objective on AT&T from $27.00 to $30.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Hsbc Global Res lowered AT&T from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 24th. Citigroup reaffirmed a "buy" rating on shares of AT&T in a report on Tuesday, June 17th. Finally, UBS Group reaffirmed a "buy" rating and set a $31.00 price objective (up previously from $30.00) on shares of AT&T in a report on Wednesday, June 18th.

Institutional Investors Weigh In On AT&T

Hedge funds have recently made changes to their positions in the business. Capstone Wealth Management LLC acquired a new stake in AT&T in the first quarter valued at about $201,000. DigitalBridge Group Inc. lifted its position in AT&T by 14.6% in the fourth quarter. DigitalBridge Group Inc. now owns 2,865,814 shares of the technology company's stock valued at $65,255,000 after purchasing an additional 365,776 shares during the period. Wedmont Private Capital lifted its position in shares of AT&T by 7.9% during the 1st quarter. Wedmont Private Capital now owns 123,247 shares of the technology company's stock valued at $3,302,000 after acquiring an additional 9,027 shares during the period. Xponance Inc. lifted its position in shares of AT&T by 10.2% during the 1st quarter. Xponance Inc. now owns 1,109,933 shares of the technology company's stock valued at $31,389,000 after acquiring an additional 102,419 shares during the period. Finally, NBT Bank N A NY lifted its position in shares of AT&T by 7.5% during the 1st quarter. NBT Bank N A NY now owns 129,428 shares of the technology company's stock valued at $3,660,000 after acquiring an additional 8,989 shares during the period. Institutional investors and hedge funds own 57.10% of the company's stock.

AT&T Stock Down 2.4%

NYSE:T traded down $0.7110 during trading hours on Thursday, hitting $28.7290. The company's stock had a trading volume of 33,993,083 shares, compared to its average volume of 30,014,602. The stock has a fifty day moving average of $27.99 and a 200-day moving average of $27.36. The stock has a market capitalization of $205.42 billion, a P/E ratio of 16.32, a price-to-earnings-growth ratio of 3.64 and a beta of 0.42. AT&T has a 52-week low of $19.51 and a 52-week high of $29.65. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.01. The company had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The business's quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.51 earnings per share. On average, equities analysts forecast that AT&T will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were paid a dividend of $0.2775 per share. The ex-dividend date was Thursday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 3.9%. AT&T's dividend payout ratio is 63.07%.

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.