Morgan Stanley set a $37.00 price objective on AT&T (NYSE:T) in a report released on Tuesday, TipRanks reports. The brokerage currently has a buy rating on the technology company’s stock.
T has been the topic of a number of other reports. Citigroup increased their price target on shares of AT&T from $37.00 to $42.00 and gave the company a buy rating in a research report on Tuesday. Desjardins restated an average rating and set a $55.50 price objective on shares of AT&T in a report on Tuesday, August 6th. Barclays boosted their price objective on shares of AT&T from $31.00 to $35.00 and gave the company an equal weight rating in a report on Tuesday. They noted that the move was a valuation call. ValuEngine downgraded shares of AT&T from a hold rating to a sell rating in a research note on Thursday, August 1st. Finally, Bank of America reiterated a buy rating and issued a $37.00 target price on shares of AT&T in a report on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $37.85.
NYSE T traded up $1.16 on Tuesday, reaching $38.74. The company had a trading volume of 54,114,068 shares, compared to its average volume of 30,604,633. AT&T has a 52 week low of $26.80 and a 52 week high of $38.75. The stock’s 50 day moving average is $34.91 and its 200-day moving average is $32.57. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.81. The stock has a market cap of $268.82 billion, a price-to-earnings ratio of 11.01, a PEG ratio of 2.33 and a beta of 0.62.
AT&T (NYSE:T) last issued its earnings results on Wednesday, July 24th. The technology company reported $0.89 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.89. The firm had revenue of $44.96 billion for the quarter, compared to analysts’ expectations of $44.97 billion. AT&T had a return on equity of 13.38% and a net margin of 9.47%. The company’s revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.91 earnings per share. As a group, analysts forecast that AT&T will post 3.57 EPS for the current year.
In other news, CEO John T. Stankey sold 4,024 shares of the stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $34.15, for a total transaction of $137,419.60. Following the completion of the sale, the chief executive officer now owns 2,366 shares of the company’s stock, valued at $80,798.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.07% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ancora Advisors LLC grew its position in AT&T by 1.3% in the second quarter. Ancora Advisors LLC now owns 351,407 shares of the technology company’s stock valued at $11,776,000 after purchasing an additional 4,370 shares in the last quarter. Kavar Capital Partners LLC increased its stake in AT&T by 3.0% in the 2nd quarter. Kavar Capital Partners LLC now owns 99,006 shares of the technology company’s stock valued at $3,318,000 after buying an additional 2,914 shares during the last quarter. Investment Partners LTD. increased its stake in AT&T by 36.5% in the 2nd quarter. Investment Partners LTD. now owns 33,247 shares of the technology company’s stock valued at $1,114,000 after buying an additional 8,892 shares during the last quarter. JGP Wealth Management LLC lifted its position in AT&T by 2.7% during the 2nd quarter. JGP Wealth Management LLC now owns 130,198 shares of the technology company’s stock worth $4,363,000 after buying an additional 3,373 shares in the last quarter. Finally, Marco Investment Management LLC lifted its position in AT&T by 16.2% during the 2nd quarter. Marco Investment Management LLC now owns 62,639 shares of the technology company’s stock worth $2,099,000 after buying an additional 8,734 shares in the last quarter. 53.14% of the stock is currently owned by hedge funds and other institutional investors.
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.
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