Royal Bank Of Canada Cuts AT&T (NYSE:T) Price Target to $30.00

AT&T (NYSE:T) had its price objective decreased by Royal Bank Of Canada from $31.00 to $30.00 in a research note released on Thursday,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the technology company’s stock.

T has been the topic of a number of other reports. Bank of America assumed coverage on shares of AT&T in a report on Monday, July 7th. They issued a “buy” rating and a $32.00 target price on the stock. Citigroup reissued a “buy” rating on shares of AT&T in a research note on Tuesday, August 26th. Barclays decreased their price objective on AT&T from $30.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Thursday. HSBC cut AT&T from a “buy” rating to a “hold” rating and set a $30.00 target price for the company. in a report on Thursday, July 24th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of AT&T in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $30.67.

AT&T Stock Up 2.2%

Shares of T opened at $25.17 on Thursday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.01 and a quick ratio of 0.76. The stock has a market capitalization of $179.95 billion, a price-to-earnings ratio of 8.17, a price-to-earnings-growth ratio of 2.04 and a beta of 0.42. AT&T has a 1 year low of $21.38 and a 1 year high of $29.79. The business’s 50 day simple moving average is $27.97 and its 200-day simple moving average is $27.76.

AT&T (NYSE:T) last posted its earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.54. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The firm had revenue of $30.71 billion during the quarter, compared to analyst estimates of $30.85 billion. During the same period last year, the firm posted $0.60 earnings per share. AT&T’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, equities analysts expect that AT&T will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.4%. AT&T’s payout ratio is presently 36.04%.

Institutional Trading of AT&T

A number of large investors have recently made changes to their positions in the stock. Front Row Advisors LLC bought a new stake in AT&T during the 2nd quarter valued at about $25,000. Stone House Investment Management LLC purchased a new position in shares of AT&T during the first quarter worth approximately $25,000. O Brien Wealth Partners LLC bought a new stake in shares of AT&T during the second quarter valued at approximately $26,000. Solstein Capital LLC boosted its holdings in shares of AT&T by 217.3% in the second quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock valued at $28,000 after purchasing an additional 652 shares during the period. Finally, Kennebec Savings Bank boosted its holdings in shares of AT&T by 412.1% in the second quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after purchasing an additional 783 shares during the period. 57.10% of the stock is owned by hedge funds and other institutional investors.

About AT&T

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.