Sanford C. Bernstein Forecasts Strong Price Appreciation for AT&T (NYSE:T) Stock

AT&T (NYSE:TGet Free Report) had its target price boosted by Sanford C. Bernstein from $28.00 to $29.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Sanford C. Bernstein’s target price suggests a potential upside of 19.67% from the stock’s previous close.

A number of other equities analysts have also issued reports on the stock. Morgan Stanley raised shares of AT&T from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $19.00 to $28.00 in a research report on Monday, December 16th. UBS Group boosted their price objective on shares of AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Evercore ISI upped their price objective on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research report on Thursday, October 24th. Hsbc Global Res raised AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Finally, Wells Fargo & Company cut their price target on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $26.11.

Read Our Latest Stock Analysis on T

AT&T Stock Down 0.7 %

T stock opened at $24.23 on Tuesday. The stock has a market capitalization of $173.89 billion, a price-to-earnings ratio of 19.70, a price-to-earnings-growth ratio of 3.50 and a beta of 0.59. The company has a 50-day moving average of $22.86 and a two-hundred day moving average of $21.55. AT&T has a 52-week low of $15.94 and a 52-week high of $24.98. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67.

AT&T (NYSE:TGet Free Report) last announced its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 7.42%. As a group, equities research analysts anticipate that AT&T will post 2.21 EPS for the current year.

Institutional Trading of AT&T

A number of hedge funds and other institutional investors have recently made changes to their positions in T. International Assets Investment Management LLC bought a new position in AT&T in the 4th quarter valued at $14,700,000. Swiss National Bank lifted its stake in shares of AT&T by 0.5% during the third quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock valued at $468,217,000 after acquiring an additional 104,700 shares during the period. Franklin Resources Inc. boosted its holdings in AT&T by 41.4% in the third quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock valued at $168,969,000 after acquiring an additional 2,326,904 shares during the last quarter. Caprock Group LLC increased its position in AT&T by 18.3% in the third quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock worth $4,312,000 after purchasing an additional 30,281 shares during the period. Finally, Talbot Financial LLC bought a new stake in AT&T during the 3rd quarter worth about $7,438,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

About AT&T

(Get Free Report)

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.

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Analyst Recommendations for AT&T (NYSE:T)

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