AT&T (NYSE:T – Get Free Report) had its price target raised by equities research analysts at Citigroup from $21.00 to $24.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Citigroup’s target price suggests a potential upside of 12.68% from the company’s current price.
Several other research firms have also recently weighed in on T. Moffett Nathanson raised their price target on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. BNP Paribas raised shares of AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 11th. Evercore ISI boosted their price target on shares of AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Finally, Royal Bank of Canada upped their target price on shares of AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 25th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $22.31.
Check Out Our Latest Analysis on AT&T
AT&T Price Performance
AT&T (NYSE:T – Get Free Report) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, meeting analysts’ consensus estimates of $0.57. The firm had revenue of $29.80 billion during the quarter, compared to analyst estimates of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The business’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the previous year, the business earned $0.63 EPS. On average, analysts expect that AT&T will post 2.2 EPS for the current fiscal year.
Institutional Investors Weigh In On AT&T
Institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in AT&T in the fourth quarter valued at $1,118,288,000. Mercer Global Advisors Inc. ADV boosted its stake in shares of AT&T by 1,379.0% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock valued at $270,581,000 after purchasing an additional 13,201,774 shares in the last quarter. Kodai Capital Management LP purchased a new position in shares of AT&T during the fourth quarter valued at about $152,109,000. AQR Capital Management LLC raised its stake in AT&T by 43.3% in the second quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock worth $414,563,000 after buying an additional 6,602,586 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in AT&T by 7.4% in the second quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock worth $1,549,375,000 after buying an additional 5,592,123 shares in the last quarter. Hedge funds and other institutional investors 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.
Featured Articles
- Five stocks we like better than AT&T
- What is the S&P 500 and How It is Distinct from Other Indexes
- Goldilocks CPI Report Leads Market to Sell Off, Lower Lows Ahead
- High Flyers: 3 Natural Gas Stocks for March 2022
- GameStop: Earnings Won’t Save It, Dilution Points to Trouble
- How to Invest in Biotech Stocks
- Dividend Aristocrats or Dividend Kings: Which Is Best for You?
Receive News & Ratings for AT&T Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AT&T and related companies with MarketBeat.com's FREE daily email newsletter.