AT&T (NYSE:T) Price Target Increased to $21.00 by Analysts at Evercore ISI

AT&T (NYSE:T) had its target price increased by investment analysts at Evercore ISI from $19.00 to $21.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has an “in-line” rating on the technology company’s stock. Evercore ISI’s price objective indicates a potential downside of 5.06% from the company’s previous close.

Several other analysts have also commented on T. Oppenheimer lifted their price objective on AT&T from $23.00 to $24.00 and gave the stock an “outperform” rating in a report on Thursday. TD Cowen raised their price objective on shares of AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. upped their target price on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Moffett Nathanson raised their target price on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued 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 $23.40.

AT&T Stock Down 1.6 %

AT&T stock traded down $0.37 during mid-day trading on Thursday, hitting $22.12. The company had a trading volume of 8,293,635 shares, compared to its average volume of 35,613,004. The company has a market capitalization of $158.61 billion, a PE ratio of 12.71, a price-to-earnings-growth ratio of 3.67 and a beta of 0.60. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. AT&T has a 12 month low of $14.74 and a 12 month high of $22.58. The stock’s 50 day moving average price is $21.09 and its two-hundred day moving average price is $19.06.

AT&T (NYSE:T) last issued its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. The business had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The company’s revenue was down .5% compared to the same quarter last year. During the same period last year, the business posted $0.64 EPS. As a group, sell-side analysts anticipate that AT&T will post 2.22 earnings per share for the current fiscal year.

Institutional Trading of AT&T

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of AT&T by 0.4% in the first quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock worth $10,999,912,000 after acquiring an additional 2,588,539 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of AT&T by 7.4% during the second quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock valued at $1,549,375,000 after acquiring an additional 5,592,123 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of AT&T by 2.7% in the second quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock worth $1,148,689,000 after acquiring an additional 1,569,374 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of AT&T by 2.0% during the second quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock worth $985,307,000 after purchasing an additional 1,007,228 shares in the last quarter. Finally, LSV Asset Management raised its stake in AT&T by 1.1% in the 2nd quarter. LSV Asset Management now owns 30,092,610 shares of the technology company’s stock valued at $575,070,000 after purchasing an additional 315,580 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Company Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.