AT&T (NYSE:T) Price Target Raised to $28.50

AT&T (NYSE:T) had its target price hoisted by Scotiabank from $26.00 to $28.50 in a research note published on Monday morning,Benzinga reports. The firm currently has a sector outperform rating on the technology company’s stock.

Other analysts also recently issued research reports about the stock. Citigroup increased their target price on shares of AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Oppenheimer assumed coverage on shares of AT&T in a report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 target price for the company. Morgan Stanley upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $19.00 to $28.00 in a report on Monday, December 16th. BNP Paribas upgraded shares of AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 target price for the company in a report on Thursday, February 13th. Finally, JPMorgan Chase & Co. increased their price target on shares of AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AT&T has an average rating of “Moderate Buy” and an average target price of $26.74.

AT&T Stock Performance

T opened at $26.19 on Monday. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The company’s fifty day moving average price is $24.14 and its two-hundred day moving average price is $22.72. AT&T has a 1-year low of $15.94 and a 1-year high of $27.97. The company has a market cap of $188.03 billion, a price-to-earnings ratio of 17.58, a PEG ratio of 3.00 and a beta of 0.56.

AT&T (NYSE:T) last released its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. On average, analysts expect that AT&T will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.24%. The ex-dividend date was Friday, January 10th. AT&T’s dividend payout ratio is currently 74.50%.

Institutional Investors Weigh In On AT&T

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in T. Legacy Investment Solutions LLC bought a new stake in AT&T during the 3rd quarter valued at $25,000. Minot DeBlois Advisors LLC bought a new stake in AT&T during the 4th quarter valued at $25,000. Capital A Wealth Management LLC bought a new stake in AT&T during the 4th quarter valued at $25,000. Putney Financial Group LLC bought a new stake in AT&T during the 4th quarter valued at $27,000. Finally, Marshall Investment Management LLC bought a new stake in AT&T during the 4th quarter valued at $28,000. 57.10% of the stock is currently owned by institutional investors.

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.