AT&T (NYSE:T) Stock Rating Upgraded by Sanford C. Bernstein

AT&T (NYSE:T) was upgraded by stock analysts at Sanford C. Bernstein to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the company. Citigroup upped their price target on AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Barclays raised their target price on shares of AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $22.00 price objective on shares of AT&T in a research report on Thursday, October 24th. Oppenheimer initiated coverage on AT&T in a report on Tuesday. They issued an “outperform” rating and a $28.00 target price on the stock. Finally, Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a research note on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and an average price target of $25.00.

AT&T Stock Up 0.7 %

Shares of NYSE T opened at $23.53 on Monday. The company has a market cap of $168.80 billion, a price-to-earnings ratio of 19.13, a PEG ratio of 3.63 and a beta of 0.59. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The firm’s fifty day moving average is $22.39 and its 200 day moving average is $20.43. AT&T has a 52 week low of $15.94 and a 52 week high of $24.03.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. During the same quarter in the previous year, the business earned $0.64 EPS. AT&T’s revenue was down .5% compared to the same quarter last year. On average, equities research analysts expect that AT&T will post 2.19 earnings per share for the current year.

Hedge Funds Weigh In On AT&T

Institutional investors have recently bought and sold shares of the business. Strategic Financial Concepts LLC lifted its position in AT&T by 227.6% in the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after buying an additional 91,578 shares during the last quarter. Legacy Investment Solutions LLC purchased a new position in shares of AT&T during the 3rd quarter worth about $25,000. Riggs Asset Managment Co. Inc. raised its position in AT&T by 356.5% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after purchasing an additional 1,116 shares during the period. Ritter Daniher Financial Advisory LLC DE lifted its stake in AT&T by 169.2% in the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after purchasing an additional 841 shares during the last quarter. Finally, American Capital Advisory LLC grew its position in AT&T by 107.5% in the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after acquiring an additional 807 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

About AT&T

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.