AT&T (NYSE:T) Stock Price Up 0.2% on Analyst Upgrade

AT&T Inc. (NYSE:T) was up 0.2% during trading on Monday after Tigress Financial raised their price target on the stock from $29.00 to $30.00. Tigress Financial currently has a buy rating on the stock. AT&T traded as high as $22.07 and last traded at $21.95. Approximately 6,633,678 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 36,017,832 shares. The stock had previously closed at $21.90.

Several other research analysts also recently issued reports on T. TD Cowen upped their price objective on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Moffett Nathanson lifted their target price on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. BNP Paribas raised AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 11th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Finally, Redburn Atlantic raised AT&T to a “strong sell” rating in a report on Monday, September 16th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, AT&T currently has a consensus rating of “Hold” and an average price target of $22.38.

Institutional Trading of AT&T

Hedge funds and other institutional investors have recently bought and sold shares of the company. Frank Rimerman Advisors LLC purchased a new position in shares of AT&T during the 4th quarter valued at $25,000. Pineridge Advisors LLC bought a new stake in AT&T during the fourth quarter valued at $25,000. Strategic Financial Concepts LLC increased its stake in AT&T by 227.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after acquiring an additional 91,578 shares during the last quarter. Riggs Asset Managment Co. Inc. raised its holdings 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 valued at $27,000 after acquiring an additional 1,116 shares in the last quarter. Finally, American Capital Advisory LLC boosted its position in shares of AT&T by 107.5% during the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after acquiring an additional 807 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 0.2 %

The company has a fifty day moving average price of $20.15 and a 200 day moving average price of $18.51. The company has a market cap of $157.39 billion, a PE ratio of 11.80, a price-to-earnings-growth ratio of 3.68 and a beta of 0.59. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66.

AT&T (NYSE:T) last announced its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.57. The company had revenue of $29.80 billion during the quarter, compared to analyst estimates of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The firm’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.63 earnings per share. As a group, analysts anticipate that AT&T Inc. will post 2.2 EPS for the current year.

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.