Deutsche Bank Aktiengesellschaft Increases AT&T (NYSE:T) Price Target to $26.00

AT&T (NYSE:T) had its price objective lifted by Deutsche Bank Aktiengesellschaft from $24.00 to $26.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Deutsche Bank Aktiengesellschaft’s price target points to a potential upside of 36.05% from the stock’s current price.

Several other brokerages also recently weighed in on T. Oppenheimer reaffirmed an “outperform” rating and set a $21.00 price target on shares of AT&T in a report on Tuesday, June 25th. Scotiabank lifted their price target on shares of AT&T from $22.00 to $22.50 and gave the company a “sector outperform” rating in a report on Thursday, April 25th. UBS Group reaffirmed a “buy” rating and set a $24.00 price target on shares of AT&T in a report on Tuesday, June 18th. Barclays raised shares of AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price target on the stock in a report on Monday, April 29th. Finally, StockNews.com downgraded shares of AT&T from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $21.71.

AT&T Stock Performance

Shares of T stock opened at $19.11 on Friday. The company has a 50 day moving average price of $17.57 and a 200-day moving average price of $17.18. AT&T has a 52 week low of $13.43 and a 52 week high of $19.13. The firm has a market capitalization of $137.02 billion, a PE ratio of 10.27, a P/E/G ratio of 4.26 and a beta of 0.60. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The firm had revenue of $30.03 billion during the quarter, compared to analyst estimates of $30.62 billion. During the same period in the previous year, the business posted $0.60 earnings per share. The business’s revenue for the quarter was down .4% on a year-over-year basis. As a group, equities research analysts expect that AT&T will post 2.24 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Norges Bank purchased a new stake in AT&T in the fourth quarter worth about $1,118,288,000. Ameriprise Financial Inc. lifted its stake in AT&T by 185.6% in the third quarter. Ameriprise Financial Inc. now owns 52,613,513 shares of the technology company’s stock worth $790,301,000 after acquiring an additional 34,189,954 shares during the period. Thornburg Investment Management Inc. purchased a new stake in shares of AT&T during the fourth quarter valued at about $316,472,000. Kodai Capital Management LP purchased a new stake in shares of AT&T during the fourth quarter valued at about $152,109,000. Finally, Point72 Asset Management L.P. lifted its position in shares of AT&T by 120.8% during the fourth quarter. Point72 Asset Management L.P. now owns 9,086,854 shares of the technology company’s stock valued at $152,477,000 after buying an additional 4,970,954 shares during the last quarter. 57.10% of the stock is currently 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.