AT&T’s (T) “Market Perform” Rating Reaffirmed at Cowen and Company
Cowen and Company reissued their market perform rating on shares of AT&T Inc. (NYSE:T) in a research report report published on Wednesday morning. They currently have a $41.00 price objective on the technology company’s stock, down from their previous price objective of $43.00.
T has been the subject of several other research reports. Vetr upgraded AT&T from a hold rating to a buy rating and set a $39.93 target price for the company in a research report on Wednesday, May 24th. Barclays PLC cut their target price on AT&T from $41.00 to $39.00 and set an equal weight rating for the company in a research report on Friday, July 14th. Instinet reiterated a buy rating and set a $45.00 target price (down previously from $46.00) on shares of AT&T in a research report on Sunday, April 2nd. Argus reiterated a buy rating and set a $51.00 target price on shares of AT&T in a research report on Monday, April 10th. Finally, Royal Bank Of Canada reiterated a hold rating and set a $42.00 target price on shares of AT&T in a research report on Sunday, July 9th. Twenty investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. AT&T has an average rating of Hold and an average price target of $43.40.
Shares of AT&T (NYSE T) opened at 39.00 on Wednesday. The company has a market cap of $239.46 billion, a P/E ratio of 18.40 and a beta of 0.47. AT&T has a 12 month low of $35.81 and a 12 month high of $43.50. The stock’s 50 day moving average price is $37.64 and its 200-day moving average price is $39.82. AT&T also was the target of unusually large options trading on Thursday. Stock investors bought 57,372 call options on the company. This represents an increase of approximately 181% compared to the typical volume of 20,452 call options.
AT&T (NYSE:T) last issued its quarterly earnings results on Tuesday, July 25th. The technology company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.05. The business had revenue of $39.84 billion during the quarter, compared to analysts’ expectations of $39.84 billion. AT&T had a return on equity of 14.53% and a net margin of 8.12%. The business’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.72 earnings per share. Equities research analysts expect that AT&T will post $2.93 earnings per share for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 1st. Investors of record on Monday, July 10th will be paid a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 5.03%. The ex-dividend date of this dividend is Thursday, July 6th. AT&T’s dividend payout ratio is currently 92.45%.
Several large investors have recently modified their holdings of T. Ullmann Financial Group Inc. acquired a new stake in shares of AT&T during the first quarter worth about $101,000. Feltz Wealth PLAN Inc. acquired a new stake in shares of AT&T during the first quarter worth about $104,000. Taylor Wealth Management Partners raised its stake in shares of AT&T by 0.4% in the first quarter. Taylor Wealth Management Partners now owns 2,550 shares of the technology company’s stock worth $106,000 after buying an additional 11 shares in the last quarter. Almanack Investment Partners LLC. acquired a new stake in shares of AT&T during the first quarter worth about $109,000. Finally, Empirical Finance LLC acquired a new stake in shares of AT&T during the fourth quarter worth about $116,000. 55.32% of the stock is owned by hedge funds and other institutional investors.
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.
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