Citigroup Inc. Raises AT&T Inc. (T) Price Target to $54.00

AT&T Inc. (NYSE:T) had its price objective hoisted by Citigroup Inc. from $52.00 to $54.00 in a research note released on Friday morning. The firm currently has a buy rating on the technology company’s stock.

Other equities analysts have also recently issued reports about the company. Vetr cut AT&T from a strong-buy rating to a buy rating and set a $42.75 target price for the company. in a report on Tuesday, September 26th. Macquarie reiterated a buy rating and issued a $43.00 price objective on shares of AT&T in a research note on Friday, September 1st. Jefferies Group LLC reiterated a buy rating and issued a $48.00 price objective on shares of AT&T in a research note on Thursday, August 24th. Zacks Investment Research upgraded AT&T from a hold rating to a buy rating and set a $43.00 price objective for the company in a research note on Wednesday, October 11th. Finally, Standpoint Research initiated coverage on AT&T in a research note on Wednesday, November 8th. They issued a buy rating and a $40.00 price objective for the company. One research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $43.48.

AT&T (NYSE T) opened at $34.17 on Friday. The firm has a market capitalization of $209,770.00, a price-to-earnings ratio of 11.68, a PEG ratio of 2.76 and a beta of 0.41. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.23. AT&T has a twelve month low of $32.55 and a twelve month high of $43.03.

AT&T (NYSE:T) last announced its earnings results on Tuesday, October 24th. The technology company reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.01). AT&T had a net margin of 8.00% and a return on equity of 14.49%. The firm had revenue of $39.67 billion for the quarter, compared to analysts’ expectations of $40.34 billion. During the same quarter last year, the business earned $0.74 earnings per share. The business’s revenue was down 3.0% compared to the same quarter last year. research analysts predict that AT&T will post 2.93 earnings per share for the current year.

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The company also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th were given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 5.74%. The ex-dividend date was Friday, October 6th. AT&T’s dividend payout ratio (DPR) is 94.23%.

In related news, Director Matthew K. Rose bought 29,600 shares of the stock in a transaction on Wednesday, October 25th. The shares were bought at an average cost of $33.75 per share, for a total transaction of $999,000.00. Following the purchase, the director now owns 3,100 shares of the company’s stock, valued at approximately $104,625. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.09% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Ullmann Financial Group Inc. purchased a new position in shares of AT&T in the 1st quarter valued at approximately $101,000. New Capital Management LP grew its stake in shares of AT&T by 130.9% in the 3rd quarter. New Capital Management LP now owns 2,646 shares of the technology company’s stock valued at $104,000 after purchasing an additional 1,500 shares during the last quarter. Financial Engines Advisors L.L.C. purchased a new stake in shares of AT&T in the third quarter valued at approximately $104,000. Macroview Investment Management LLC boosted its stake in shares of AT&T by 144.3% in the third quarter. Macroview Investment Management LLC now owns 2,700 shares of the technology company’s stock valued at $106,000 after buying an additional 1,595 shares in the last quarter. Finally, Almanack Investment Partners LLC. purchased a new stake in shares of AT&T in the first quarter valued at approximately $109,000. Institutional investors own 55.21% of the company’s stock.

AT&T Company Profile

AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.

Analyst Recommendations for AT&T (NYSE:T)

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