AT&T (NYSE:T) Price Target Raised to $22.50 at Scotiabank

AT&T (NYSE:T - Get Free Report) had its price target raised by analysts at Scotiabank from $22.00 to $22.50 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has a "sector outperform" rating on the technology company's stock. Scotiabank's target price indicates a potential upside of 35.66% from the stock's current price.

T has been the subject of a number of other reports. StockNews.com downgraded AT&T from a "buy" rating to a "hold" rating in a research note on Thursday, April 4th. Wolfe Research upgraded AT&T from a "peer perform" rating to an "outperform" rating and set a $21.00 price objective for the company in a research report on Tuesday, March 5th. Oppenheimer raised shares of AT&T from a "market perform" rating to an "outperform" rating and set a $21.00 price target for the company in a report on Friday, January 19th. Royal Bank of Canada reissued a "sector perform" rating and set a $17.00 price target on shares of AT&T in a report on Thursday, April 11th. Finally, Tigress Financial boosted their target price on shares of AT&T from $28.00 to $29.00 and gave the company a "buy" rating in a research note on Wednesday, January 31st. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $20.81.

AT&T Stock Down 1.3 %

NYSE T traded down $0.22 during mid-day trading on Thursday, reaching $16.59. 46,667,665 shares of the company's stock traded hands, compared to its average volume of 39,434,195. The company has a market cap of $118.63 billion, a price-to-earnings ratio of 8.44, a P/E/G ratio of 2.49 and a beta of 0.57. The company has a fifty day simple moving average of $16.98 and a 200-day simple moving average of $16.54. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. AT&T has a 1-year low of $13.43 and a 1-year high of $18.16.

AT&T (NYSE:T - Get Free Report) last released its earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.02. The company had revenue of $30.03 billion during the quarter, compared to the consensus estimate of $30.62 billion. AT&T had a net margin of 11.76% and a return on equity of 15.39%. The company's revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.60 EPS. As a group, equities research analysts expect that AT&T will post 2.21 EPS for the current year.

Institutional Investors Weigh In On AT&T

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp lifted its stake in AT&T by 5.6% during the first quarter. Bank of New York Mellon Corp now owns 75,484,518 shares of the technology company's stock valued at $1,328,528,000 after buying an additional 4,014,873 shares in the last quarter. Smith Chas P & Associates PA Cpas lifted its position in shares of AT&T by 106.5% in the first quarter. Smith Chas P & Associates PA Cpas now owns 31,726 shares of the technology company's stock worth $558,000 after buying an additional 16,361 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of AT&T by 2.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,679,328 shares of the technology company's stock worth $64,756,000 after buying an additional 87,183 shares during the last quarter. L.M. Kohn & Company lifted its position in shares of AT&T by 6.5% during the 1st quarter. L.M. Kohn & Company now owns 17,609 shares of the technology company's stock worth $310,000 after purchasing an additional 1,077 shares during the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in AT&T by 9.7% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 1,445,170 shares of the technology company's stock valued at $25,435,000 after purchasing an additional 127,700 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company's stock.

AT&T Company Profile

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.