AT&T (NYSE:T) Price Target Raised to $28.00

AT&T (NYSE:T) had its price objective hoisted by Royal Bank of Canada from $27.00 to $28.00 in a report issued on Wednesday,Benzinga reports. They currently have an outperform rating on the technology company’s stock.

Several other research analysts have also issued reports on T. BNP Paribas raised shares of AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 target price on the stock in a research note on Thursday, February 13th. Sanford C. Bernstein raised their price objective on shares of AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. The Goldman Sachs Group upped their target price on shares of AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Argus upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research report on Thursday, January 16th. Finally, DZ Bank raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Wednesday, January 29th. One analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, AT&T currently has an average rating of “Moderate Buy” and a consensus price target of $26.79.

AT&T Stock Performance

Shares of AT&T stock opened at $27.04 on Wednesday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The firm has a 50 day simple moving average of $25.13 and a 200 day simple moving average of $23.28. AT&T has a fifty-two week low of $15.94 and a fifty-two week high of $27.97. The firm has a market cap of $194.06 billion, a P/E ratio of 18.14, a P/E/G ratio of 3.00 and a beta of 0.56.

AT&T (NYSE:T) last released its 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%. Sell-side analysts predict that AT&T will post 2.14 earnings per share for the current fiscal year.

Institutional Trading of AT&T

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

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.