AT&T (NYSE:T) Price Target Raised to $30.00 at Tigress Financial

AT&T (NYSE:T) had its target price upped by research analysts at Tigress Financial from $29.00 to $30.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Tigress Financial’s price objective points to a potential upside of 37.87% from the company’s previous close.

Several other equities analysts also recently weighed in on T. Redburn Atlantic upgraded AT&T to a “strong sell” rating in a research report on Monday, September 16th. TD Cowen raised their price objective on AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Citigroup raised their price objective on AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Scotiabank downgraded AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, BNP Paribas upgraded AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $22.38.

AT&T Price Performance

Shares of T traded up $0.11 during trading hours on Friday, reaching $21.76. 3,285,302 shares of the company traded hands, compared to its average volume of 36,069,848. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $156.02 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 3.66 and a beta of 0.59. AT&T has a fifty-two week low of $14.12 and a fifty-two week high of $22.34. The stock has a fifty day simple moving average of $20.09 and a 200 day simple moving average of $18.46.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in AT&T by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock valued at $10,999,912,000 after acquiring an additional 2,588,539 shares in the last quarter. Bank of New York Mellon Corp raised its stake in AT&T by 7.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock valued at $1,549,375,000 after acquiring an additional 5,592,123 shares in the last quarter. Legal & General Group Plc raised its stake in AT&T by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock valued at $1,148,689,000 after acquiring an additional 1,569,374 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of AT&T by 2.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock worth $985,307,000 after buying an additional 1,007,228 shares in the last quarter. Finally, LSV Asset Management raised its stake in shares of AT&T by 1.1% in the 2nd quarter. LSV Asset Management now owns 30,092,610 shares of the technology company’s stock worth $575,070,000 after buying an additional 315,580 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

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.