AT&T (NYSE:T) Price Target Raised to $34.00

AT&T (NYSE:T - Get Free Report) had its price objective lifted by investment analysts at Tigress Financial from $32.00 to $34.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the technology company's stock. Tigress Financial's target price points to a potential upside of 24.25% from the company's current price.

Several other equities analysts have also weighed in on the stock. Wells Fargo & Company increased their price objective on shares of AT&T from $27.00 to $30.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. BNP Paribas upgraded AT&T from a "neutral" rating to an "outperform" rating and set a $28.50 price target on the stock in a research report on Thursday, February 13th. Argus upgraded AT&T from a "hold" rating to a "buy" rating and set a $27.00 price objective for the company in a report on Thursday, January 16th. Williams Trading set a $30.00 target price on AT&T in a research report on Thursday. Finally, Evercore ISI boosted their price target on shares of AT&T from $25.00 to $27.00 and gave the company an "in-line" rating in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, AT&T currently has a consensus rating of "Moderate Buy" and a consensus target price of $28.71.

AT&T Price Performance

NYSE:T traded up $0.11 during mid-day trading on Tuesday, reaching $27.37. 5,020,527 shares of the company were exchanged, compared to its average volume of 36,334,904. AT&T has a 12 month low of $16.73 and a 12 month high of $29.03. The stock has a market cap of $196.43 billion, a PE ratio of 18.39, a PEG ratio of 3.00 and a beta of 0.42. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The company has a fifty day moving average of $26.98 and a 200 day moving average of $24.39.

AT&T (NYSE:T - Get Free Report) last released its earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). The firm had revenue of $30.63 billion for the quarter, compared to the consensus estimate of $30.39 billion. AT&T had a return on equity of 13.97% and a net margin of 8.95%. The company's revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.55 EPS. On average, research analysts anticipate that AT&T will post 2.14 EPS for the current fiscal year.

Institutional Trading of AT&T

Several institutional investors have recently added to or reduced their stakes in T. Vanguard Group Inc. raised its stake in AT&T by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company's stock worth $14,637,914,000 after buying an additional 6,220,442 shares in the last quarter. Geode Capital Management LLC grew its holdings in AT&T by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 163,761,301 shares of the technology company's stock valued at $3,719,723,000 after purchasing an additional 2,640,644 shares during the period. GQG Partners LLC increased its stake in shares of AT&T by 37.3% during the fourth quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company's stock worth $2,203,667,000 after purchasing an additional 26,280,866 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in AT&T by 7.1% during the 4th quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company's stock worth $1,948,943,000 after purchasing an additional 5,649,277 shares during the last quarter. Finally, Norges Bank acquired a new stake in AT&T during the fourth quarter worth about $1,858,418,000. Institutional investors own 57.10% of the company's stock.

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.

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