Evercore ISI Raises AT&T (NYSE:T) Price Target to $21.00

AT&T (NYSE:T) had its target price upped by Evercore ISI from $19.00 to $21.00 in a research note issued to investors on Thursday morning, Benzinga reports. Evercore ISI currently has an in-line rating on the technology company’s stock.

Several other equities analysts have also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Moffett Nathanson raised their target price on shares of AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. The Goldman Sachs Group started coverage on shares of AT&T in a research note on Monday, July 1st. They set a “buy” rating and a $22.00 target price on the stock. Scotiabank lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, Citigroup increased their price objective on shares of AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $23.40.

AT&T Price Performance

Shares of NYSE:T opened at $21.83 on Thursday. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. AT&T has a 12 month low of $14.74 and a 12 month high of $22.58. The stock has a market cap of $156.52 billion, a P/E ratio of 11.74, a P/E/G ratio of 3.67 and a beta of 0.60. The company has a 50 day moving average of $21.20 and a 200 day moving average of $19.13.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The company had revenue of $30.20 billion during the quarter, compared to analyst estimates of $30.50 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The firm’s revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.64 EPS. As a group, sell-side analysts forecast that AT&T will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 5.08%. The ex-dividend date is Thursday, October 10th. AT&T’s dividend payout ratio is presently 59.68%.

Institutional Trading of AT&T

Large investors have recently added to or reduced their stakes in the business. Wealthcare Advisory Partners LLC boosted its position in shares of AT&T by 9.0% in the first quarter. Wealthcare Advisory Partners LLC now owns 73,404 shares of the technology company’s stock worth $1,292,000 after buying an additional 6,064 shares during the period. 180 Wealth Advisors LLC raised its holdings in AT&T by 1.9% during the first quarter. 180 Wealth Advisors LLC now owns 63,605 shares of the technology company’s stock valued at $1,119,000 after buying an additional 1,171 shares in the last quarter. Cypress Wealth Services LLC raised its holdings in AT&T by 11.0% during the first quarter. Cypress Wealth Services LLC now owns 12,276 shares of the technology company’s stock valued at $216,000 after buying an additional 1,220 shares in the last quarter. Hennessy Advisors Inc. increased its stake in shares of AT&T by 24.2% in the first quarter. Hennessy Advisors Inc. now owns 321,660 shares of the technology company’s stock worth $5,661,000 after purchasing an additional 62,700 shares during the period. Finally, Fifth Third Wealth Advisors LLC bought a new position in shares of AT&T in the first quarter worth about $782,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Company Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.