AT&T (NYSE:T) Price Target Raised to $29.00

AT&T (NYSE:T) had its price objective lifted by analysts at Sanford C. Bernstein from $28.00 to $29.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Sanford C. Bernstein’s price target would suggest a potential upside of 20.24% from the stock’s current price.

A number of other brokerages have also weighed in on T. Royal Bank of Canada upgraded shares of AT&T from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $22.00 to $26.00 in a research note on Monday, January 6th. Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Wells Fargo & Company dropped their target price on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. JPMorgan Chase & Co. upped their price target on shares of AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Finally, New Street Research raised shares of AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, AT&T currently has an average rating of “Moderate Buy” and a consensus price target of $25.89.

AT&T Trading Up 6.2 %

NYSE:T opened at $24.12 on Tuesday. AT&T has a 52 week low of $15.94 and a 52 week high of $24.37. The stock has a market cap of $173.05 billion, a price-to-earnings ratio of 19.61, a PEG ratio of 3.50 and a beta of 0.59. The company’s 50 day moving average price is $22.80 and its 200-day moving average price is $21.48. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T) last posted its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 7.42%. On average, equities research analysts forecast that AT&T will post 2.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AT&T

A number of institutional investors have recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of AT&T in the second quarter worth about $44,000. Scientech Research LLC purchased a new stake in shares of AT&T during the 2nd quarter worth approximately $219,000. Driehaus Capital Management LLC purchased a new stake in shares of AT&T during the 2nd quarter worth approximately $237,000. NewEdge Advisors LLC boosted its position in shares of AT&T by 7.2% during the 2nd quarter. NewEdge Advisors LLC now owns 473,303 shares of the technology company’s stock valued at $9,045,000 after acquiring an additional 31,661 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of AT&T by 2.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 700,577 shares of the technology company’s stock valued at $13,388,000 after purchasing an additional 18,869 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

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.