Wells Fargo & Company Boosts AT&T (NYSE:T) Price Target to $25.00

AT&T (NYSE:T) had its price target boosted by Wells Fargo & Company from $22.00 to $25.00 in a report published on Monday, Benzinga reports. The firm currently has an overweight rating on the technology company’s stock.

T has been the topic of a number of other research reports. Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a report on Monday, September 16th. Tigress Financial increased their price target on shares of AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Moffett Nathanson increased 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. Evercore ISI boosted their price target on shares of AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a research report on Thursday, July 25th. Finally, Hsbc Global Res raised AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, AT&T has an average rating of “Moderate Buy” and a consensus target price of $22.69.

AT&T Trading Up 0.9 %

Shares of T stock opened at $21.70 on Monday. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. The firm has a market cap of $155.59 billion, a P/E ratio of 11.67, a PEG ratio of 3.62 and a beta of 0.60. The company has a 50 day moving average of $20.86 and a 200-day moving average of $18.91. AT&T has a 12-month low of $14.28 and a 12-month high of $22.34.

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

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders 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 annualized dividend and a dividend yield of 5.12%. AT&T’s dividend payout ratio is currently 59.68%.

Institutional Investors Weigh In On AT&T

Several institutional investors have recently bought and sold shares of T. Hayek Kallen Investment Management grew its position in shares of AT&T by 0.8% in the 3rd quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company’s stock worth $1,326,000 after buying an additional 500 shares during the last quarter. Octavia Wealth Advisors LLC grew its holdings in AT&T by 2.1% in the second quarter. Octavia Wealth Advisors LLC now owns 25,313 shares of the technology company’s stock worth $484,000 after purchasing an additional 519 shares during the last quarter. Carolinas Wealth Consulting LLC increased its position in shares of AT&T by 2.3% during the second quarter. Carolinas Wealth Consulting LLC now owns 23,650 shares of the technology company’s stock worth $452,000 after purchasing an additional 521 shares in the last quarter. WealthCare Investment Partners LLC lifted its holdings in shares of AT&T by 2.2% during the 2nd quarter. WealthCare Investment Partners LLC now owns 24,138 shares of the technology company’s stock valued at $461,000 after purchasing an additional 525 shares during the last quarter. Finally, Integral Investment Advisors Inc. boosted its position in shares of AT&T by 3.2% in the 2nd quarter. Integral Investment Advisors Inc. now owns 17,177 shares of the technology company’s stock worth $322,000 after purchasing an additional 538 shares in the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

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.