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AT&T (NYSE:T) price target raised to $23.00 at Scotiabank

AT&T (NYSE:T) price target raised to .00 at Scotiabank

AT&T (NYSE:T – Free Report) Scotiabank Inc. had its price target raised by $22.50 to $23.00 in a report issued Wednesday, Benzinga reports. Scotiabank currently has a sector outperform rating on the technology company’s stock.

Several other research analysts have also recently offered reports on T. Deutsche Bank Aktiengesellschaft increased their price target on AT&T from $24.00 to $26.00 and gave the stock a buy rating in a research report on Friday, June 28th. Oppenheimer affirmed an outperform rating and gave a $21.00 price target on shares of AT&T in a research report on Tuesday, June 25th. Barclays raised AT&T from an equal weight rating to an overweight rating and set a $20.00 price target on the stock in a research report on Monday, April 29th. BNP Paribas raised AT&T from an underperform rating to a neutral rating in a research report on Tuesday, June 11th. Finally, StockNews.com lowered AT&T from a buy rating to a hold rating in a research report on Friday, May 3rd. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company’s stock. According to MarketBeat.com, AT&T currently has an average rating of Moderate Buy and a consensus price target of $21.85.

Check out our latest stock report on AT&T

AT&T trades down 0.3%

Shares of NYSE:T opened at $18.74 on Wednesday. The stock has a market cap of $134.37 billion, a price-to-earnings ratio of 10.08, a PEG ratio of 3.55 and a beta of 0.58. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.63 and a current ratio of 0.68. The stock’s 50-day simple moving average is $17.90 and its 200-day simple moving average is $17.30. AT&T has a 52-week low of $13.43 and a 52-week high of $19.32.

AT&T (NYSE:T – Get Free Report) last announced its earnings results on Wednesday, April 24. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.02. The company had revenue of $30.03 billion for the quarter, compared to analysts’ expectations of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The company’s revenue for the quarter was down 0.4% year-over-year. During the same period last year, the company reported $0.60 EPS. Analysts expect AT&T to report 2.23 EPS for the current year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will receive a dividend of $0.2775 per share. This represents an annualized dividend of $1.11 and a yield of 5.92%. The ex-dividend date for this dividend is Wednesday, July 10th. AT&T’s dividend payout ratio is currently 59.68%.

Hedge funds weigh in on AT&T

Several large investors have recently adjusted their holdings in T. Frank Rimerman Advisors LLC. Frank Rimerman Advisors LLC purchased a new position in shares of AT&T during the 4th quarter worth about $25,000. Pineridge Advisors LLC purchased a new position in AT&T during the 4th quarter worth $25,000. First Pacific Financial increased its position in AT&T by 166.7% in the 1st quarter. First Pacific Financial now owns 1,600 shares of the technology company’s stock worth $28,000 after acquiring an additional 1,000 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA increased its position in AT&T by 35.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock worth $39,000 after acquiring an additional 606 shares in the last quarter. Finally, Western Pacific Wealth Management LP bought a new position in AT&T during the fourth quarter worth $39,000. Institutional investors own 57.10% of the company’s stock.

About AT&T

(Get free report)

AT&T Inc. provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment provides wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/covers and wireless chargers through company-owned stores, agents and third-party retailers.

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Analyst Recommendations for AT&T (NYSE:T)

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