AT&T (NYSE:T) Given New $21.00 Price Target at Wells Fargo & Company

AT&T (NYSE:TGet Rating) had its target price decreased by Wells Fargo & Company from $26.00 to $21.00 in a research report issued to clients and investors on Thursday, The Fly reports. Wells Fargo & Company‘s target price points to a potential upside of 8.14% from the stock’s previous close.

Several other analysts have also recently issued reports on T. Morgan Stanley cut their target price on AT&T from $28.00 to $22.00 and set an “overweight” rating for the company in a research report on Wednesday. Moffett Nathanson started coverage on shares of AT&T in a report on Tuesday, April 5th. They set a $19.00 price objective for the company. Raymond James decreased their price target on shares of AT&T from $32.00 to $26.00 and set an “outperform” rating on the stock in a research note on Tuesday. Cowen decreased their price objective on AT&T from $33.00 to $29.00 and set a “market perform” rating on the stock in a report on Thursday, January 27th. Finally, Daiwa Capital Markets began coverage on shares of AT&T in a research report on Thursday, December 23rd. They issued a “neutral” rating and a $26.00 price target on the stock. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $27.10.

Shares of NYSE T opened at $19.42 on Thursday. The stock has a market cap of $138.71 billion, a PE ratio of 7.04, a price-to-earnings-growth ratio of 1.75 and a beta of 0.68. AT&T has a 1 year low of $18.85 and a 1 year high of $33.88. The firm has a fifty day moving average price of $23.44 and a 200-day moving average price of $24.57. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.70 and a quick ratio of 0.66.

AT&T (NYSE:TGet Rating) last issued its earnings results on Wednesday, January 26th. The technology company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.02. The company had revenue of $40.96 billion during the quarter, compared to the consensus estimate of $40.75 billion. AT&T had a net margin of 11.89% and a return on equity of 13.50%. AT&T’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.75 EPS. On average, research analysts expect that AT&T will post 3.12 EPS for the current year.

Several hedge funds have recently modified their holdings of the business. TPG Financial Advisors LLC lifted its holdings in shares of AT&T by 3.4% in the 4th quarter. TPG Financial Advisors LLC now owns 11,147 shares of the technology company’s stock worth $274,000 after acquiring an additional 369 shares during the last quarter. Breiter Capital Management Inc. lifted its holdings in shares of AT&T by 3.8% in the 4th quarter. Breiter Capital Management Inc. now owns 10,152 shares of the technology company’s stock worth $250,000 after acquiring an additional 370 shares during the last quarter. Cim LLC lifted its holdings in shares of AT&T by 4.4% in the 3rd quarter. Cim LLC now owns 9,769 shares of the technology company’s stock worth $245,000 after acquiring an additional 409 shares during the last quarter. Mission Wealth Management LP raised its holdings in shares of AT&T by 0.8% in the 3rd quarter. Mission Wealth Management LP now owns 53,703 shares of the technology company’s stock valued at $1,451,000 after buying an additional 415 shares during the period. Finally, Bristlecone Advisors LLC lifted its stake in AT&T by 4.6% during the 4th quarter. Bristlecone Advisors LLC now owns 9,572 shares of the technology company’s stock worth $235,000 after acquiring an additional 422 shares in the last quarter. Institutional investors and hedge funds own 51.63% of the company’s stock.

AT&T Company Profile (Get Rating)

AT&T Inc provides telecommunications, media, and technology services worldwide. The company operates through Communications, WarnerMedia, and Latin America segments. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.

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