AT&T’s (T) Sector Perform Rating Reaffirmed at Scotiabank

Scotiabank reiterated their sector perform rating on shares of AT&T (NYSE:T) in a report released on Monday, Marketbeat.com reports. The brokerage currently has a $30.25 target price on the technology company’s stock.

Several other brokerages have also recently weighed in on T. Wells Fargo & Company boosted their price target on shares of AT&T from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. UBS Group set a $33.00 price target on shares of AT&T in a research report on Thursday, September 18th. JPMorgan Chase & Co. boosted their price target on shares of AT&T from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Raymond James Financial reissued a “strong-buy” rating and set a $33.00 price target (up previously from $31.00) on shares of AT&T in a research report on Thursday, September 18th. Finally, Hsbc Global Res cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $30.75.

AT&T Stock Down 4.4%

NYSE T opened at $25.88 on Monday. The business has a fifty day moving average price of $28.56 and a 200 day moving average price of $27.92. AT&T has a one year low of $21.05 and a one year high of $29.79. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81. The company has a market cap of $185.05 billion, a P/E ratio of 14.70, a P/E/G ratio of 3.46 and a beta of 0.42.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.53 by $0.01. The firm had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The firm’s revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.51 EPS. Research analysts anticipate that AT&T will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Friday, October 10th. AT&T’s dividend payout ratio (DPR) is 63.07%.

Hedge Funds Weigh In On AT&T

Hedge funds and other institutional investors have recently bought and sold shares of the company. Front Row Advisors LLC purchased a new position in AT&T during the 2nd quarter valued at about $25,000. Stone House Investment Management LLC purchased a new position in AT&T during the 1st quarter valued at about $25,000. O Brien Wealth Partners LLC acquired a new stake in AT&T in the 2nd quarter valued at about $26,000. Solstein Capital LLC raised its position in AT&T by 217.3% in the 2nd quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock valued at $28,000 after purchasing an additional 652 shares in the last quarter. Finally, Kennebec Savings Bank raised its position in AT&T by 412.1% in the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after purchasing an additional 783 shares in the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Company Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.