AT&T (NYSE:T) Receives Outperform Rating from Oppenheimer

Oppenheimer reissued their outperform rating on shares of AT&T (NYSE:T) in a research report sent to investors on Tuesday, Benzinga reports. Oppenheimer currently has a $21.00 price target on the technology company’s stock.

A number of other equities analysts have also recently issued reports on the company. Scotiabank raised their target price on AT&T from $22.00 to $22.50 and gave the stock a sector outperform rating in a report on Thursday, April 25th. Wolfe Research upgraded AT&T from a peer perform rating to an outperform rating and set a $21.00 target price on the stock in a report on Tuesday, March 5th. UBS Group restated a buy rating and set a $24.00 target price on shares of AT&T in a report on Tuesday, June 18th. Barclays upgraded AT&T from an equal weight rating to an overweight rating and set a $20.00 target price on the stock in a report on Monday, April 29th. Finally, StockNews.com cut AT&T from a buy rating to a hold rating in a report on Friday, May 3rd. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $21.71.

AT&T Price Performance

AT&T stock opened at $19.13 on Tuesday. The business’s 50-day simple moving average is $17.57 and its 200 day simple moving average is $17.17. The stock has a market cap of $137.17 billion, a price-to-earnings ratio of 10.28, a P/E/G ratio of 4.26 and a beta of 0.60. AT&T has a 12-month low of $13.43 and a 12-month high of $19.13. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.02. The business 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 firm’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter last year, the business earned $0.60 earnings per share. As a group, research analysts anticipate that AT&T will post 2.24 earnings per share for the current year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 5.80%. The ex-dividend date of this dividend is Wednesday, July 10th. AT&T’s dividend payout ratio is presently 59.68%.

Institutional Investors Weigh In On AT&T

A number of hedge funds and other institutional investors have recently bought and sold shares of T. Bright Futures Wealth Management LLC. acquired a new position in shares of AT&T during the 1st quarter worth approximately $207,000. Old Port Advisors increased its position in shares of AT&T by 10.1% during the 1st quarter. Old Port Advisors now owns 108,875 shares of the technology company’s stock worth $1,916,000 after purchasing an additional 9,991 shares during the last quarter. Abich Financial Wealth Management LLC increased its position in shares of AT&T by 54.6% during the 1st quarter. Abich Financial Wealth Management LLC now owns 9,161 shares of the technology company’s stock worth $161,000 after purchasing an additional 3,237 shares during the last quarter. Keynote Financial Services LLC acquired a new position in shares of AT&T during the 1st quarter worth approximately $1,922,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of AT&T by 59.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 16,930 shares of the technology company’s stock worth $286,000 after purchasing an additional 6,327 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

About AT&T

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