UBS Group Issues Positive Forecast for AT&T (NYSE:T) Stock Price

AT&T (NYSE:T - Get Free Report) had its price objective hoisted by UBS Group from $30.00 to $31.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the technology company's stock. UBS Group's target price indicates a potential upside of 12.14% from the company's previous close.

A number of other equities analysts have also issued reports on the company. Tigress Financial increased their price objective on AT&T from $32.00 to $34.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Morgan Stanley reiterated an "overweight" rating and set a $31.00 price target (up previously from $30.00) on shares of AT&T in a research report on Thursday, April 24th. Royal Bank Of Canada increased their price target on AT&T from $28.00 to $30.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Williams Trading set a $30.00 price objective on shares of AT&T in a research note on Thursday, April 24th. Finally, Wall Street Zen upgraded shares of AT&T from a "hold" rating to a "buy" rating in a research report on Friday, April 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $28.76.

AT&T Stock Performance

Shares of T stock opened at $27.65 on Wednesday. The company has a market cap of $198.92 billion, a P/E ratio of 16.96, a PEG ratio of 3.89 and a beta of 0.41. The business has a 50 day moving average of $27.47 and a two-hundred day moving average of $25.71. AT&T has a 52 week low of $17.86 and a 52 week high of $29.03. The company has a quick ratio of 0.65, a current ratio of 0.70 and a debt-to-equity ratio of 0.98.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). The company had revenue of $30.63 billion for the quarter, compared to analyst estimates of $30.39 billion. AT&T had a net margin of 9.64% and a return on equity of 13.63%. The company's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.55 EPS. As a group, analysts anticipate that AT&T will post 2.14 EPS for the current year.

Institutional Investors Weigh In On AT&T

Large investors have recently made changes to their positions in the company. Norges Bank acquired a new position in shares of AT&T in the 4th quarter valued at about $1,858,418,000. Nuveen LLC purchased a new position in AT&T during the first quarter valued at approximately $1,072,128,000. GQG Partners LLC increased its stake in AT&T by 37.3% in the 4th quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company's stock valued at $2,203,667,000 after buying an additional 26,280,866 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in AT&T by 31.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company's stock valued at $1,216,665,000 after buying an additional 12,881,578 shares during the period. Finally, Ontario Teachers Pension Plan Board lifted its position in AT&T by 30,527.5% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company's stock worth $338,213,000 after buying an additional 11,920,392 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company's stock.

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.

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