AT&T (NYSE:T) Given Strong-Buy Rating at Raymond James Financial

Raymond James Financial reissued their strong-buy rating on shares of AT&T (NYSE:T - Free Report) in a research note released on Thursday,Benzinga reports. Raymond James Financial currently has a $31.00 price target on the technology company's stock, up from their previous price target of $30.00.

Several other brokerages have also recently issued reports on T. Tigress Financial upped their price objective on AT&T from $32.00 to $34.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Morgan Stanley upped their price objective on AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Scotiabank upped their price objective on AT&T from $29.50 to $30.00 and gave the company a "sector outperform" rating in a research note on Friday, July 11th. Wells Fargo & Company increased their price target on AT&T from $30.00 to $31.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Finally, Evercore ISI increased their price target on AT&T from $25.00 to $27.00 and gave the stock an "in-line" rating in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $29.37.

AT&T Stock Performance

NYSE:T traded up $0.28 during mid-day trading on Thursday, reaching $28.20. 4,509,453 shares of the stock were exchanged, compared to its average volume of 37,965,258. The company has a 50 day simple moving average of $27.80 and a 200-day simple moving average of $26.58. The stock has a market capitalization of $202.89 billion, a P/E ratio of 16.01, a P/E/G ratio of 3.46 and a beta of 0.42. The company has a quick ratio of 0.65, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. AT&T has a 1 year low of $18.64 and a 1 year high of $29.19.

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 firm had revenue of $30.85 billion during the quarter, compared to analysts' expectations of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%. AT&T's revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.51 earnings per share. Analysts anticipate that AT&T will post 2.14 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 Friday, August 1st. Stockholders of record on Thursday, July 10th will be given a $0.2775 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.94%. AT&T's payout ratio is 68.10%.

Institutional Investors Weigh In On AT&T

Hedge funds and other institutional investors have recently made changes to their positions in the business. Brighton Jones LLC grew its stake in shares of AT&T by 26.5% in the fourth quarter. Brighton Jones LLC now owns 48,579 shares of the technology company's stock worth $1,106,000 after purchasing an additional 10,188 shares during the last quarter. Virtu Financial LLC bought a new stake in AT&T during the fourth quarter valued at $392,000. TIAA Trust National Association boosted its position in shares of AT&T by 1.8% during the 4th quarter. TIAA Trust National Association now owns 229,986 shares of the technology company's stock worth $5,237,000 after purchasing an additional 4,081 shares in the last quarter. Financial Engines Advisors L.L.C. boosted its position in shares of AT&T by 58.4% during the 4th quarter. Financial Engines Advisors L.L.C. now owns 25,546 shares of the technology company's stock worth $582,000 after purchasing an additional 9,418 shares in the last quarter. Finally, Heritage Wealth Advisors boosted its position in shares of AT&T by 24.3% during the 4th quarter. Heritage Wealth Advisors now owns 3,836 shares of the technology company's stock worth $87,000 after purchasing an additional 751 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

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.