AT&T (NYSE:T) Shares Up 0.5% After Analyst Upgrade

AT&T Inc. (NYSE:T)’s share price traded up 0.5% during mid-day trading on Friday 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 $21.80 and last traded at $21.76. 3,285,302 shares traded hands during trading, a decline of 91% from the average session volume of 36,069,848 shares. The stock had previously closed at $21.65.

A number of other equities research analysts have also weighed in on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Evercore ISI upped their price objective on shares of AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a research note on Thursday, July 25th. Scotiabank lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. The Goldman Sachs Group began coverage on shares of AT&T in a research note on Monday, July 1st. They issued a “buy” rating and a $22.00 price objective on the stock. Finally, Moffett Nathanson upped their price objective on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $22.38.

Hedge Funds Weigh In On AT&T

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vantage Financial Partners LLC boosted its position in shares of AT&T by 25.5% in the fourth quarter. Vantage Financial Partners LLC now owns 38,207 shares of the technology company’s stock valued at $641,000 after acquiring an additional 7,762 shares during the period. Gilbert & Cook Inc. boosted its position in shares of AT&T by 4.1% in the fourth quarter. Gilbert & Cook Inc. now owns 31,130 shares of the technology company’s stock valued at $522,000 after acquiring an additional 1,212 shares during the period. Aveo Capital Partners LLC boosted its position in shares of AT&T by 4.5% in the fourth quarter. Aveo Capital Partners LLC now owns 27,770 shares of the technology company’s stock valued at $466,000 after acquiring an additional 1,194 shares during the period. Gryphon Financial Partners LLC boosted its position in shares of AT&T by 21.8% in the fourth quarter. Gryphon Financial Partners LLC now owns 27,253 shares of the technology company’s stock valued at $477,000 after acquiring an additional 4,870 shares during the period. Finally, Evoke Wealth LLC boosted its position in shares of AT&T by 14.8% in the fourth quarter. Evoke Wealth LLC now owns 28,681 shares of the technology company’s stock valued at $481,000 after acquiring an additional 3,693 shares during the period. Institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

The business’s 50-day moving average price is $20.15 and its 200 day moving average price is $18.50. 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 company has a market capitalization of $157.03 billion, a P/E ratio of 11.77, a price-to-earnings-growth ratio of 3.68 and a beta of 0.59.

AT&T (NYSE:T) last announced its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.57. The business had revenue of $29.80 billion for 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%. AT&T’s quarterly revenue was down .3% on a year-over-year basis. During the same period last year, the firm posted $0.63 earnings per share. Analysts anticipate that AT&T Inc. will post 2.2 EPS for the current fiscal 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.