AT&T (NYSE:T) Upgraded to “Strong-Buy” by Hsbc Global Res

Hsbc Global Res upgraded shares of AT&T (NYSE:T) to a strong-buy rating in a report published on Tuesday morning, Zacks.com reports.

Several other analysts have also issued reports on T. Redburn Atlantic raised shares of AT&T to a strong sell rating in a research report on Monday, September 16th. Citigroup upped their target price on AT&T from $21.00 to $24.00 and gave the stock a buy rating in a research note on Wednesday, September 11th. The Goldman Sachs Group assumed coverage on AT&T in a report on Monday, July 1st. They set a buy rating and a $22.00 target price for the company. Scotiabank cut shares of AT&T from a strong-buy rating to a hold rating in a research report on Tuesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of AT&T from $24.00 to $26.00 and gave the company a buy rating in a report on Friday, June 28th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $22.38.

AT&T Stock Performance

T stock opened at $21.91 on Tuesday. 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 1-year low of $14.12 and a 1-year high of $22.34. The stock has a 50-day moving average price of $20.47 and a 200-day moving average price of $18.66. The firm has a market cap of $157.10 billion, a PE ratio of 11.78, a price-to-earnings-growth ratio of 3.75 and a beta of 0.59.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.57. The business had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The company’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.63 EPS. As a group, equities research analysts expect that AT&T will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

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 $0.2775 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.07%. AT&T’s dividend payout ratio is presently 59.68%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Riggs Asset Managment Co. Inc. grew its position in AT&T by 356.5% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after purchasing an additional 1,116 shares during the period. Pineridge Advisors LLC purchased a new position in AT&T in the 4th quarter worth approximately $25,000. Frank Rimerman Advisors LLC purchased a new stake in shares of AT&T in the fourth quarter valued at about $25,000. American Capital Advisory LLC raised its position in shares of AT&T by 107.5% during the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after buying an additional 807 shares during the period. Finally, Altshuler Shaham Ltd purchased a new stake in shares of AT&T in the 2nd quarter valued at approximately $30,000. 57.10% of the stock is owned by institutional investors and hedge funds.

About AT&T

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.