AT&T (NYSE:T) Given New $26.00 Price Target at Citigroup

AT&T (NYSE:T) had its target price upped by Citigroup from $24.00 to $26.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Citigroup’s target price suggests a potential upside of 12.80% from the company’s current price.

Several other equities research analysts also recently weighed in on T. Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a report on Monday, September 16th. Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. Wells Fargo & Company reduced their price objective on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Tigress Financial upped their price objective on shares of AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Finally, Moffett Nathanson boosted their price target on shares of AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $23.53.

AT&T Stock Performance

Shares of T traded down $0.04 during midday trading on Wednesday, hitting $23.05. 4,986,403 shares of the stock traded hands, compared to its average volume of 35,318,070. AT&T has a 1-year low of $15.94 and a 1-year high of $23.32. The firm has a market capitalization of $165.39 billion, a PE ratio of 18.76, a price-to-earnings-growth ratio of 3.47 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The business’s 50 day moving average price is $22.07 and its two-hundred day moving average price is $20.04.

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

Institutional Trading of AT&T

Institutional investors and hedge funds have recently bought and sold shares of the stock. Strategic Financial Concepts LLC increased its holdings in shares of AT&T by 227.6% in the 2nd 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 period. Legacy Investment Solutions LLC acquired a new position in shares of AT&T in the 3rd quarter valued at about $25,000. Riggs Asset Managment Co. Inc. increased its holdings in shares of AT&T by 356.5% in the 2nd 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 period. Ritter Daniher Financial Advisory LLC DE increased its holdings in shares of AT&T by 169.2% in the 3rd 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 period. Finally, American Capital Advisory LLC grew its stake in shares of AT&T by 107.5% in the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after buying an additional 807 shares in the last quarter. Institutional investors and hedge funds 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.