AT&T (NYSE:T – Get Free Report)‘s stock had its “sector perform” rating reiterated by Royal Bank of Canada in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $17.00 price objective on the technology company’s stock. Royal Bank of Canada’s price target suggests a potential upside of 4.23% from the company’s previous close.
Other research analysts have also recently issued research reports about the company. Wells Fargo & Company increased their target price on AT&T from $17.00 to $20.00 and gave the company an “overweight” rating in a research note on Wednesday, December 13th. Citigroup boosted their target price on AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. TheStreet upgraded shares of AT&T from a “c” rating to a “b-” rating in a research report on Wednesday, January 24th. Tigress Financial boosted their price objective on shares of AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Finally, Barclays upped their price objective on shares of AT&T from $17.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 31st. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and an average price target of $20.68.
AT&T Trading Down 0.7 %
AT&T (NYSE:T – Get Free Report) last issued its quarterly earnings results on Wednesday, January 24th. The technology company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.01). AT&T had a net margin of 11.76% and a return on equity of 15.39%. The business had revenue of $32 billion during the quarter, compared to analyst estimates of $31.44 billion. During the same period last year, the firm posted $0.61 earnings per share. AT&T’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, equities research analysts forecast that AT&T will post 2.21 earnings per share for the current year.
Institutional Trading of AT&T
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Moneta Group Investment Advisors LLC boosted its holdings in AT&T by 85,003.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 76,836,936 shares of the technology company’s stock worth $1,414,568,000 after buying an additional 76,746,649 shares during the last quarter. Norges Bank acquired a new stake in shares of AT&T in the fourth quarter worth approximately $1,229,499,000. Ameriprise Financial Inc. increased its position in shares of AT&T by 185.6% during the third quarter. Ameriprise Financial Inc. now owns 52,613,513 shares of the technology company’s stock worth $790,301,000 after purchasing an additional 34,189,954 shares in the last quarter. FMR LLC lifted its holdings in AT&T by 130.5% in the 3rd quarter. FMR LLC now owns 57,515,546 shares of the technology company’s stock valued at $863,884,000 after purchasing an additional 32,558,342 shares in the last quarter. Finally, Morgan Stanley boosted its stake in AT&T by 37.3% during the 4th quarter. Morgan Stanley now owns 109,639,428 shares of the technology company’s stock worth $2,018,462,000 after purchasing an additional 29,769,976 shares during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.
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.
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