AT&T (NYSE:T) Price Target Raised to $26.00 at Citigroup

AT&T (NYSE:T) had its price objective hoisted by research analysts at Citigroup from $24.00 to $26.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Citigroup’s price target indicates a potential upside of 12.80% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a research note on Monday, September 16th. Royal Bank of Canada reissued a “sector perform” rating and issued a $22.00 target price on shares of AT&T in a research report on Thursday, October 24th. Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Tigress Financial raised their target price on shares of AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Finally, Scotiabank cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $23.53.

AT&T Price Performance

Shares of T traded down $0.04 during trading hours on Wednesday, reaching $23.05. The company had a trading volume of 4,986,403 shares, compared to its average volume of 35,318,070. The firm has a 50 day simple moving average of $22.07 and a 200-day simple moving average of $20.04. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $165.39 billion, a price-to-earnings ratio of 18.76, a PEG ratio of 3.47 and a beta of 0.59. AT&T has a 12-month low of $15.94 and a 12-month high of $23.32.

AT&T (NYSE:T) last posted its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The firm had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. During the same period last year, the firm posted $0.64 EPS. The firm’s revenue for the quarter was down .5% on a year-over-year basis. Research analysts expect that AT&T will post 2.22 earnings per share for the current year.

Institutional Trading of AT&T

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Strategic Financial Concepts LLC increased its stake in AT&T by 227.6% during the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after purchasing an additional 91,578 shares during the last quarter. Legacy Investment Solutions LLC bought a new stake in AT&T during the third quarter valued at $25,000. Riggs Asset Managment Co. Inc. increased its stake in AT&T by 356.5% during the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after purchasing an additional 1,116 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE increased its stake in AT&T by 169.2% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after purchasing an additional 841 shares during the last quarter. Finally, American Capital Advisory LLC increased its stake in AT&T by 107.5% during the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after purchasing an additional 807 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

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.