AT&T (NYSE:T) Given New $33.00 Price Target at JPMorgan Chase & Co.

AT&T (NYSE:T - Free Report) had its price objective increased by JPMorgan Chase & Co. from $31.00 to $33.00 in a research note published on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the technology company's stock.

Other equities research analysts have also recently issued research reports about the company. Evercore ISI boosted their target price on AT&T from $25.00 to $27.00 and gave the stock an "in-line" rating in a research note on Thursday, April 24th. 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. Citigroup reiterated a "buy" rating on shares of AT&T in a research report on Tuesday, June 17th. Royal Bank Of Canada upped their price objective on AT&T from $28.00 to $30.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Finally, Wells Fargo & Company increased their target price on AT&T from $30.00 to $31.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $29.37.

AT&T Price Performance

Shares of NYSE:T traded up $0.26 during midday trading on Thursday, reaching $28.18. 4,509,453 shares of the company's stock traded hands, compared to its average volume of 37,965,258. AT&T has a 1 year low of $18.64 and a 1 year high of $29.19. The company has a market cap of $202.80 billion, a P/E ratio of 16.01, a PEG ratio of 3.46 and a beta of 0.42. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.65 and a current ratio of 0.81. The company has a fifty day simple moving average of $27.80 and a two-hundred day simple moving average of $26.58.

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

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date is Thursday, July 10th. AT&T's payout ratio is presently 68.10%.

Institutional Investors Weigh In On AT&T

A number of large investors have recently added to or reduced their stakes in T. Minot DeBlois Advisors LLC bought a new stake in shares of AT&T during the 4th quarter valued at about $25,000. Capital A Wealth Management LLC bought a new stake in AT&T during the fourth quarter worth about $25,000. Stone House Investment Management LLC bought a new stake in AT&T during the first quarter worth about $25,000. O Brien Wealth Partners LLC bought a new stake in AT&T during the second quarter worth about $26,000. Finally, Putney Financial Group LLC bought a new stake in AT&T during the fourth quarter worth about $27,000. Institutional investors own 57.10% of the company's stock.

About AT&T

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.