The Goldman Sachs Group Initiates Coverage on AT&T (NYSE:T)

Stock analysts at The Goldman Sachs Group started coverage on shares of AT&T (NYSE:T) in a report issued on Monday, MarketBeat.com reports. The firm set a “buy” rating and a $22.00 price target on the technology company’s stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 16.90% from the stock’s current price.

T has been the topic of several other research reports. Oppenheimer reiterated an “outperform” rating and set a $21.00 price target on shares of AT&T in a research report on Tuesday, June 25th. Wolfe Research upgraded shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a research report on Tuesday, March 5th. UBS Group reiterated a “buy” rating and set a $24.00 price target on shares of AT&T in a research report on Tuesday, June 18th. BNP Paribas upgraded shares of AT&T from an “underperform” rating to a “neutral” rating in a research report on Tuesday, June 11th. Finally, StockNews.com downgraded shares of AT&T from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and an average price target of $21.73.

AT&T Trading Down 0.8 %

Shares of AT&T stock opened at $18.82 on Monday. The firm has a market capitalization of $134.94 billion, a PE ratio of 10.12, a price-to-earnings-growth ratio of 4.34 and a beta of 0.58. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.63. The company’s fifty day moving average price is $17.63 and its two-hundred day moving average price is $17.20. AT&T has a 52-week low of $13.43 and a 52-week high of $19.32.

AT&T (NYSE:T) last issued its earnings results on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The company had revenue of $30.03 billion for the quarter, compared to the consensus estimate of $30.62 billion. During the same quarter in the previous year, the company earned $0.60 EPS. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. On average, analysts expect that AT&T will post 2.24 EPS for the current year.

Hedge Funds Weigh In On AT&T

Hedge funds have recently made changes to their positions in the business. Frank Rimerman Advisors LLC acquired a new stake in shares of AT&T in the 4th quarter valued at approximately $25,000. Pineridge Advisors LLC acquired a new stake in shares of AT&T in the 4th quarter valued at approximately $25,000. First Pacific Financial boosted its holdings in shares of AT&T by 166.7% in the 1st quarter. First Pacific Financial now owns 1,600 shares of the technology company’s stock valued at $28,000 after buying an additional 1,000 shares during the last quarter. Ramirez Asset Management Inc. acquired a new stake in AT&T during the 3rd quarter valued at $30,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA lifted its holdings in AT&T by 35.3% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock valued at $39,000 after purchasing an additional 606 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

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.