Wells Fargo & Company Increases AT&T (NYSE:T) Price Target to $25.00

AT&T (NYSE:T) had its target price lifted by equities researchers at Wells Fargo & Company from $22.00 to $25.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 16.14% from the company’s previous close.

A number of other brokerages also recently weighed in on T. Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a research report on Monday, September 16th. The Goldman Sachs Group initiated coverage on shares of AT&T in a research note on Monday, July 1st. They set a “buy” rating and a $22.00 target price for the company. Barclays boosted their target price on shares of AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Royal Bank of Canada boosted their target price on shares of AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a research note on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price 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. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.69.

AT&T Stock Performance

AT&T stock opened at $21.53 on Monday. AT&T has a 12-month low of $14.23 and a 12-month high of $22.34. The company has a market capitalization of $154.34 billion, a price-to-earnings ratio of 11.57, a price-to-earnings-growth ratio of 3.62 and a beta of 0.60. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. The firm’s fifty day moving average price is $20.81 and its 200 day moving average price is $18.89.

AT&T (NYSE:T) last released its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, hitting the consensus estimate of $0.57. The company had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The company’s revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.63 EPS. On average, research analysts forecast that AT&T will post 2.22 EPS for the current fiscal year.

Institutional Investors Weigh In On AT&T

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in T. Mercer Global Advisors Inc. ADV raised its holdings in shares of AT&T by 1,379.0% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock valued at $270,581,000 after purchasing an additional 13,201,774 shares in the last quarter. AQR Capital Management LLC grew its stake in AT&T by 43.3% in the 2nd quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock valued at $414,563,000 after buying an additional 6,602,586 shares during the last quarter. Bank of New York Mellon Corp grew its stake in AT&T by 7.4% in 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 buying an additional 5,592,123 shares during the last quarter. Thornburg Investment Management Inc. grew its stake in AT&T by 22.0% in the 2nd quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock valued at $477,528,000 after buying an additional 4,511,725 shares during the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new position in AT&T in the 2nd quarter valued at $78,570,000. Hedge funds and other institutional investors 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.