Deutsche Bank AG Reiterates Buy Rating for AT&T Inc. (T)
AT&T Inc. (NYSE:T)‘s stock had its “buy” rating reiterated by investment analysts at Deutsche Bank AG in a research note issued to investors on Tuesday. They presently have a $45.00 price target on the stock. Deutsche Bank AG’s price objective points to a potential upside of 15.36% from the stock’s current price.
A number of other research firms also recently commented on T. Vetr downgraded AT&T from a “hold” rating to a “sell” rating and set a $38.71 target price on the stock. in a research report on Tuesday, June 21st. Citigroup Inc. cut AT&T from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $42.00 to $46.00 in a research note on Thursday, July 7th. They noted that the move was a valuation call. Jefferies Group reissued a “buy” rating and set a $44.00 price objective on shares of AT&T in a research note on Thursday, July 21st. Wells Fargo & Co. reissued a “buy” rating on shares of AT&T in a research note on Friday, July 22nd. Finally, Barclays PLC boosted their price objective on AT&T from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Friday, July 15th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the company’s stock. AT&T presently has a consensus rating of “Hold” and a consensus price target of $41.82.
AT&T (NYSE:T) traded up 0.23% during midday trading on Tuesday, reaching $39.10. The company’s stock had a trading volume of 21,469,093 shares. The company’s 50-day moving average is $40.52 and its 200 day moving average is $40.53. AT&T has a 12-month low of $32.22 and a 12-month high of $43.89. The firm has a market cap of $240.54 billion, a price-to-earnings ratio of 16.86 and a beta of 0.30.
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AT&T (NYSE:T) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.72 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.72. AT&T had a return on equity of 13.93% and a net margin of 8.76%. The business had revenue of $40.50 billion for the quarter, compared to the consensus estimate of $40.75 billion. Equities analysts forecast that AT&T will post $2.86 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Monday, October 10th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 4.92%. The ex-dividend date of this dividend is Wednesday, October 5th. AT&T’s payout ratio is 83.12%.
In other AT&T news, CEO John T. Stankey sold 2,131 shares of the 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 approximately $589,230.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.07% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the company. Hilton Capital Management LLC boosted its stake in AT&T by 453.6% in the third quarter. Hilton Capital Management LLC now owns 37,118 shares of the company’s stock worth $1,507,000 after buying an additional 30,413 shares during the period. Gillespie Robinson & Grimm Inc. boosted its stake in AT&T by 3.3% in the third quarter. Gillespie Robinson & Grimm Inc. now owns 7,863 shares of the company’s stock worth $307,000 after buying an additional 251 shares during the period. Fisher Asset Management LLC boosted its stake in AT&T by 10.0% in the third quarter. Fisher Asset Management LLC now owns 54,833 shares of the company’s stock worth $2,227,000 after buying an additional 4,990 shares during the period. Naples Global Advisors LLC boosted its stake in AT&T by 2.3% in the third quarter. Naples Global Advisors LLC now owns 64,967 shares of the company’s stock worth $2,638,000 after buying an additional 1,482 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its stake in AT&T by 8.4% in the third quarter. Oregon Public Employees Retirement Fund now owns 1,953,767 shares of the company’s stock worth $79,342,000 after buying an additional 151,343 shares during the period. 53.64% of the stock is currently owned by institutional investors.
AT&T Company Profile
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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