AT&T’s (T) Buy Rating Reaffirmed at Deutsche Bank AG
AT&T Inc. (NYSE:T)‘s stock had its “buy” rating reaffirmed by investment analysts at Deutsche Bank AG in a report issued on Tuesday. They currently have a $45.00 price target on the stock. Deutsche Bank AG’s price target points to a potential upside of 15.36% from the stock’s previous close.
A number of other research analysts also recently commented on T. Vetr downgraded shares of AT&T from a “hold” rating to a “sell” rating and set a $38.71 price objective for the company. in a research note on Tuesday, June 21st. Buckingham Research downgraded shares of AT&T from a “buy” rating to a “neutral” rating and increased their target price for the stock from $30.97 to $39.56 in a research report on Friday, June 24th. They noted that the move was a valuation call. Barclays PLC started coverage on shares of AT&T in a research report on Monday, June 27th. They set a “buy” rating for the company. Robert W. Baird reissued a “neutral” rating and set a $41.00 target price on shares of AT&T in a research report on Tuesday, June 28th. Finally, Zacks Investment Research raised shares of AT&T from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a research report on Wednesday, June 29th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $41.82.
Shares of AT&T (NYSE:T) traded up 0.23% on Tuesday, reaching $39.10. 21,469,093 shares of the company were exchanged. The company has a 50-day moving average price of $40.52 and a 200 day moving average price of $40.53. AT&T has a 1-year low of $32.22 and a 1-year high of $43.89. The stock has a market capitalization of $240.54 billion, a PE ratio of 16.86 and a beta of 0.30.
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AT&T (NYSE:T) last announced 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. AT&T had a net margin of 8.76% and a return on equity of 13.93%. The firm earned $40.50 billion during the quarter, compared to the consensus estimate of $40.75 billion. On average, analysts forecast that AT&T will post $2.86 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Monday, October 10th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.92%. The ex-dividend date is Wednesday, October 5th. AT&T’s dividend payout ratio (DPR) is 83.12%.
In other news, CEO John T. Stankey sold 2,131 shares of the firm’s stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $43.38, for a total transaction of $92,442.78. Following the transaction, the chief executive officer now directly owns 13,583 shares of the company’s stock, valued at $589,230.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.07% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Oliver Luxxe Assets LLC boosted its position in shares of AT&T by 6.0% in the first quarter. Oliver Luxxe Assets LLC now owns 67,774 shares of the company’s stock valued at $2,655,000 after buying an additional 3,835 shares in the last quarter. Benin Management CORP boosted its position in shares of AT&T by 2.1% in the first quarter. Benin Management CORP now owns 19,941 shares of the company’s stock valued at $781,000 after buying an additional 401 shares in the last quarter. GW&K Investment Management LLC boosted its position in shares of AT&T by 4.5% in the first quarter. GW&K Investment Management LLC now owns 719,175 shares of the company’s stock valued at $28,170,000 after buying an additional 30,808 shares in the last quarter. Boston Advisors LLC boosted its position in shares of AT&T by 0.5% in the first quarter. Boston Advisors LLC now owns 808,005 shares of the company’s stock valued at $31,650,000 after buying an additional 4,313 shares in the last quarter. Finally, HHG & Company LLC boosted its position in shares of AT&T by 0.3% in the first quarter. HHG & Company LLC now owns 143,574 shares of the company’s stock valued at $5,624,000 after buying an additional 362 shares in the last quarter. 53.64% of the stock is 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.
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