Barclays Cuts AT&T (T) Price Target to $40.00

AT&T (NYSE:T) had its target price decreased by stock analysts at Barclays from $41.00 to $40.00 in a research note issued to investors on Friday. The firm currently has an “equal weight” rating on the technology company’s stock. Barclays’ price objective would indicate a potential upside of 13.67% from the company’s current price.

A number of other brokerages also recently commented on T. Macquarie reissued a “buy” rating and issued a $40.00 price objective on shares of AT&T in a research report on Sunday, April 8th. Scotiabank set a $40.00 target price on shares of AT&T and gave the company a “hold” rating in a research report on Tuesday, January 30th. SunTrust Banks increased their target price on shares of AT&T from $36.00 to $40.00 and gave the company a “hold” rating in a research report on Thursday, February 1st. Wells Fargo decreased their price target on shares of AT&T from $48.00 to $40.00 and set an “outperform” rating for the company in a research note on Friday, March 23rd. Finally, Guggenheim assumed coverage on shares of AT&T in a research note on Tuesday, March 13th. They set a “buy” rating and a $42.00 price target for the company. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. AT&T presently has a consensus rating of “Hold” and a consensus target price of $41.47.

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NYSE:T traded up $0.03 on Friday, hitting $35.19. The stock had a trading volume of 4,519,857 shares, compared to its average volume of 27,908,082. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market capitalization of $216,399.75, a price-to-earnings ratio of 11.54, a PEG ratio of 2.43 and a beta of 0.39. AT&T has a 1-year low of $32.55 and a 1-year high of $40.56.

AT&T (NYSE:T) last posted its earnings results on Wednesday, January 31st. The technology company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.13. AT&T had a net margin of 18.34% and a return on equity of 14.55%. The company had revenue of $41.68 billion for the quarter, compared to analyst estimates of $41.21 billion. During the same period in the previous year, the business posted $0.66 EPS. AT&T’s revenue was down .4% on a year-over-year basis. equities analysts anticipate that AT&T will post 3.47 earnings per share for the current fiscal year.

In other news, CEO John Donovan acquired 27,997 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were purchased at an average price of $35.68 per share, for a total transaction of $998,932.96. Following the completion of the acquisition, the chief executive officer now owns 179,834 shares of the company’s stock, valued at approximately $6,416,477.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard W. Fisher acquired 2,600 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The stock was purchased at an average price of $38.10 per share, for a total transaction of $99,060.00. Following the acquisition, the director now directly owns 2,600 shares of the company’s stock, valued at approximately $99,060. The disclosure for this purchase can be found here. 0.09% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the business. Amundi Pioneer Asset Management Inc. lifted its position in AT&T by 202.7% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 13,775,075 shares of the technology company’s stock worth $535,574,000 after purchasing an additional 9,225,075 shares during the period. Vanguard Group Inc. raised its stake in AT&T by 2.2% during the second quarter. Vanguard Group Inc. now owns 427,857,308 shares of the technology company’s stock worth $16,143,056,000 after acquiring an additional 9,053,649 shares in the last quarter. Lazard Asset Management LLC raised its stake in AT&T by 53.3% during the fourth quarter. Lazard Asset Management LLC now owns 21,916,005 shares of the technology company’s stock worth $852,092,000 after acquiring an additional 7,619,113 shares in the last quarter. American Century Companies Inc. raised its stake in AT&T by 90.2% during the fourth quarter. American Century Companies Inc. now owns 15,886,607 shares of the technology company’s stock worth $617,671,000 after acquiring an additional 7,535,393 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in AT&T by 6,188.8% during the second quarter. Janus Henderson Group PLC now owns 6,900,152 shares of the technology company’s stock worth $260,343,000 after acquiring an additional 6,790,430 shares in the last quarter. 55.94% of the stock is owned by hedge funds and other institutional investors.

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AT&T Company Profile

AT&T Inc provides communications and digital entertainment services. The company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility, and International. The Business Solutions segment offers wireless services, strategic services, legacy voice, data services, wireless equipment, and other services to multinational companies, governmental and wholesale customers, and individual subscribers.

Analyst Recommendations for AT&T (NYSE:T)

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