AT&T (NYSE:T) Price Target Raised to $24.00 at Oppenheimer

AT&T (NYSE:T) had its target price raised by equities research analysts at Oppenheimer from $23.00 to $24.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Oppenheimer’s price objective indicates a potential upside of 8.50% from the stock’s current price.

A number of other research firms have also weighed in on T. Evercore ISI upped their price objective on AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a research report on Thursday, July 25th. Wells Fargo & Company cut their price target on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday. The Goldman Sachs Group started coverage on AT&T in a research report on Monday, July 1st. They set a “buy” rating and a $22.00 price objective for the company. Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Finally, Deutsche Bank Aktiengesellschaft increased 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. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $23.40.

AT&T Trading Down 1.6 %

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

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of T. Riggs Asset Managment Co. Inc. raised its position in shares of 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 buying an additional 1,116 shares during the period. American Capital Advisory LLC lifted its stake in shares of 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 purchasing an additional 807 shares in the last quarter. Altshuler Shaham Ltd purchased a new position in shares of AT&T in the 2nd quarter valued at $30,000. Marquette Asset Management LLC acquired a new stake in AT&T during the 3rd quarter valued at $36,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in AT&T by 176.6% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock worth $35,000 after buying an additional 1,192 shares during the period. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

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.