AT&T Inc. (T) Upgraded by Vetr Inc. to Buy
AT&T Inc. (NYSE:T) was upgraded by Vetr from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm currently has a $41.50 target price on the stock. Vetr‘s price objective would suggest a potential upside of 6.77% from the company’s current price.
T has been the subject of several other research reports. S&P Equity Research set a $46.00 price objective on AT&T and gave the stock a “buy” rating in a report on Sunday, July 24th. Wells Fargo & Co. reiterated a “buy” rating on shares of AT&T in a report on Friday, July 22nd. Barclays PLC increased their price objective on AT&T from $42.00 to $45.00 and gave the stock an “overweight” rating in a report on Friday, July 15th. Jefferies Group reiterated a “buy” rating on shares of AT&T in a report on Wednesday, August 3rd. Finally, Argus reiterated a “buy” rating and issued a $51.00 price objective (up previously from $45.00) on shares of AT&T in a report on Tuesday, July 26th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $41.57.
Shares of AT&T (NYSE:T) traded down 0.61% on Tuesday, hitting $38.87. The company had a trading volume of 19,171,955 shares. The stock has a market capitalization of $239.13 billion, a PE ratio of 16.76 and a beta of 0.30. The firm’s 50 day moving average price is $40.58 and its 200-day moving average price is $40.51. AT&T has a 52 week low of $32.22 and a 52 week high of $43.89.
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AT&T (NYSE:T) last issued its earnings results on Thursday, July 21st. The company reported $0.72 earnings per share for the quarter, meeting the consensus estimate of $0.72. The company earned $40.50 billion during the quarter, compared to analysts’ expectations of $40.75 billion. AT&T had a return on equity of 13.93% and a net margin of 8.76%. Analysts forecast that AT&T will post $2.86 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Monday, October 10th will be issued a dividend of $0.48 per share. The ex-dividend date is Wednesday, October 5th. This represents a $1.92 dividend on an annualized basis and a yield of 4.94%. AT&T’s dividend payout ratio is presently 83.12%.
In other AT&T news, CEO John T. Stankey sold 2,131 shares of the firm’s stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $43.38, for a total transaction of $92,442.78. Following the sale, the chief executive officer now directly owns 13,583 shares of the company’s stock, valued at $589,230.54. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.07% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Quotient Investors LLC boosted its stake in AT&T by 12.1% in the first quarter. Quotient Investors LLC now owns 119,012 shares of the company’s stock worth $4,662,000 after buying an additional 12,814 shares in the last quarter. Spirit of America Management Corp NY boosted its stake in AT&T by 10.3% in the first quarter. Spirit of America Management Corp NY now owns 61,989 shares of the company’s stock worth $2,428,000 after buying an additional 5,775 shares in the last quarter. TNB Financial boosted its stake in AT&T by 28.0% in the first quarter. TNB Financial now owns 81,239 shares of the company’s stock worth $3,181,000 after buying an additional 17,769 shares in the last quarter. Burke & Herbert Bank & Trust Co. boosted its stake in shares of AT&T by 3.7% in the first quarter. Burke & Herbert Bank & Trust Co. now owns 41,006 shares of the company’s stock valued at $1,606,000 after buying an additional 1,448 shares during the period. Finally, Gierl Augustine Investment Management Inc boosted its stake in shares of AT&T by 10.1% in the first quarter. Gierl Augustine Investment Management Inc now owns 75,959 shares of the company’s stock valued at $2,975,000 after buying an additional 6,972 shares during the period. 53.64% of the stock is currently owned by institutional investors and hedge funds.
AT&T Inc is a holding company. The Company offers communications and digital entertainment services in the United States and the world. It operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Business Solutions segment includes various categories, including wireless service, fixed strategic services, legacy voice and data services, other services and wireless equipment.
To view Vetr’s full report, visit Vetr’s official website.
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