Barclays Increases AT&T (NYSE:T) Price Target to $35.00

AT&T (NYSE:T) had its price target hoisted by Barclays from $31.00 to $35.00 in a report issued on Tuesday, MarketBeat reports. The firm currently has an “equal weight” rating on the technology company’s stock. Barclays‘s target price points to a potential downside of 8.81% from the stock’s current price. The analysts noted that the move was a valuation call.

Other equities analysts have also issued reports about the stock. Desjardins restated an “average” rating and issued a $55.50 price objective on shares of AT&T in a research report on Tuesday, August 6th. Cowen set a $40.00 price objective on shares of AT&T and gave the company a “buy” rating in a research report on Friday, September 6th. Citigroup lifted their target price on shares of AT&T from $37.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday. Bank of America reiterated a “buy” rating and set a $37.00 target price on shares of AT&T in a research report on Monday, June 24th. Finally, Raymond James lifted their target price on shares of AT&T from $34.00 to $35.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $37.85.

NYSE T traded down $0.36 during trading hours on Tuesday, reaching $38.38. 36,123,800 shares of the company were exchanged, compared to its average volume of 30,604,633. AT&T has a 1 year low of $26.80 and a 1 year high of $38.75. The business’s 50 day simple moving average is $34.91 and its 200-day simple 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 capitalization of $268.82 billion, a P/E ratio of 10.90, a P/E/G ratio of 2.33 and a beta of 0.62.



AT&T (NYSE:T) last posted its earnings results on Wednesday, July 24th. The technology company reported $0.89 earnings per share for the quarter, hitting the consensus estimate of $0.89. AT&T had a net margin of 9.47% and a return on equity of 13.38%. The firm had revenue of $44.96 billion during the quarter, compared to the consensus estimate of $44.97 billion. During the same quarter last year, the company earned $0.91 earnings per share. The company’s revenue was up 15.3% on a year-over-year basis. As a group, sell-side analysts anticipate that AT&T will post 3.57 earnings per share for the current year.

In related news, CEO John T. Stankey sold 4,024 shares of AT&T stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $34.15, for a total value of $137,419.60. Following the transaction, the chief executive officer now directly owns 2,366 shares of the company’s stock, valued at $80,798.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.07% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of T. Horan Securities Inc. boosted its stake in AT&T by 439.2% in the 2nd quarter. Horan Securities Inc. now owns 1,019 shares of the technology company’s stock worth $34,000 after purchasing an additional 830 shares in the last quarter. Next Capital Management LLC bought a new position in AT&T in the 2nd quarter worth about $39,000. Contravisory Investment Management Inc. boosted its stake in AT&T by 36.0% in the 2nd quarter. Contravisory Investment Management Inc. now owns 1,277 shares of the technology company’s stock worth $43,000 after purchasing an additional 338 shares in the last quarter. Smart Portfolios LLC boosted its stake in AT&T by 44.8% in the 4th quarter. Smart Portfolios LLC now owns 1,615 shares of the technology company’s stock worth $46,000 after purchasing an additional 500 shares in the last quarter. Finally, Centaurus Financial Inc. boosted its stake in AT&T by 24.4% in the 1st quarter. Centaurus Financial Inc. now owns 1,700 shares of the technology company’s stock worth $54,000 after purchasing an additional 333 shares in the last quarter. 53.14% of the stock is currently owned by institutional investors and hedge funds.

About AT&T

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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Analyst Recommendations for AT&T (NYSE:T)

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