AT&T (NYSE:T) Upgraded by Sanford C. Bernstein to Strong-Buy Rating

Sanford C. Bernstein upgraded shares of AT&T (NYSE:T) to a strong-buy rating in a report published on Monday,Zacks.com reports.

T has been the subject of several other research reports. Wells Fargo & Company reduced their price target on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. Barclays raised their price target on AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. The Goldman Sachs Group upped their price objective on AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Finally, Redburn Atlantic upgraded AT&T to a “strong sell” rating in a research note on Monday, September 16th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $25.00.

AT&T Stock Performance

NYSE T opened at $23.53 on Monday. The company has a fifty day moving average of $22.39 and a two-hundred day moving average of $20.43. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. AT&T has a 1 year low of $15.94 and a 1 year high of $24.03. The company has a market capitalization of $168.80 billion, a PE ratio of 19.13, a P/E/G ratio of 3.63 and a beta of 0.59.

AT&T (NYSE:T) last announced its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The firm had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business’s revenue was down .5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 EPS. As a group, analysts expect that AT&T will post 2.19 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were issued a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.72%. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

Hedge Funds Weigh In On AT&T

Several hedge funds and other institutional investors have recently bought and sold shares of T. Strategic Financial Concepts LLC lifted its holdings in shares of AT&T by 227.6% in the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after purchasing an additional 91,578 shares in the last quarter. Legacy Investment Solutions LLC purchased a new stake in AT&T in the 3rd quarter valued at approximately $25,000. Riggs Asset Managment Co. Inc. lifted its stake in AT&T by 356.5% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after buying an additional 1,116 shares in the last quarter. Ritter Daniher Financial Advisory LLC DE grew its holdings in AT&T by 169.2% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after buying an additional 841 shares during the last quarter. Finally, American Capital Advisory LLC increased its position in AT&T by 107.5% during the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after buying an additional 807 shares in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

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.