AT&T (NYSE:T) Price Target Raised to $32.00 at Oppenheimer

AT&T (NYSE:T) had its price objective upped by research analysts at Oppenheimer from $27.00 to $32.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Oppenheimer’s price target indicates a potential upside of 12.46% from the company’s current price.

T has been the topic of several other reports. Sanford C. Bernstein lifted their target price on shares of AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. UBS Group upped their price objective on AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Argus raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Thursday, January 16th. Royal Bank of Canada increased their price objective on AT&T from $27.00 to $28.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 19th. Finally, Barclays boosted their target price on shares of AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $27.21.

AT&T Stock Performance

NYSE T traded up $0.18 during midday trading on Tuesday, hitting $28.46. The company had a trading volume of 24,187,949 shares, compared to its average volume of 36,200,138. The firm has a fifty day simple moving average of $25.82 and a two-hundred day simple moving average of $23.59. AT&T has a fifty-two week low of $15.94 and a fifty-two week high of $28.61. 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 stock has a market cap of $204.26 billion, a price-to-earnings ratio of 19.10, a P/E/G ratio of 3.00 and a beta of 0.56.

AT&T (NYSE:T) last posted its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. Equities analysts forecast that AT&T will post 2.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AT&T

Several institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new position in AT&T during the fourth quarter valued at approximately $1,858,418,000. GQG Partners LLC raised its stake in AT&T by 37.3% during the 4th quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock worth $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 lifted its holdings in AT&T by 31.8% during the fourth 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 worth $1,216,665,000 after acquiring an additional 12,881,578 shares in the last quarter. Northern Trust Corp increased its holdings in shares of AT&T by 16.3% in the fourth quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company’s stock worth $1,779,438,000 after acquiring an additional 10,945,679 shares in the last quarter. Finally, Assetmark Inc. raised its position in shares of AT&T by 4,986.1% during the fourth quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company’s stock worth $225,741,000 after purchasing an additional 9,719,036 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

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.