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

AT&T (NYSE:T) had its target price increased by research analysts at Scotiabank from $24.00 to $26.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the technology company’s stock. Scotiabank’s price objective points to a potential upside of 7.84% from the stock’s current price.

A number of other brokerages have also recently issued reports on T. Evercore ISI lifted their target price on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a report on Thursday, October 24th. New Street Research upgraded AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. Hsbc Global Res raised AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Wells Fargo & Company decreased 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. Finally, Barclays raised their price objective on shares of AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, AT&T has an average rating of “Moderate Buy” and a consensus target price of $26.06.

AT&T Stock Down 0.1 %

Shares of AT&T stock traded down $0.03 during trading on Tuesday, reaching $24.11. The company had a trading volume of 10,384,567 shares, compared to its average volume of 36,496,695. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. AT&T has a fifty-two week low of $15.94 and a fifty-two week high of $24.36. The firm’s fifty day moving average is $22.80 and its 200-day moving average is $21.48. The company has a market cap of $173.00 billion, a price-to-earnings ratio of 19.58, a price-to-earnings-growth ratio of 3.50 and a beta of 0.59.

AT&T (NYSE:T) last issued its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a net margin of 7.42% and a return on equity of 13.97%. On average, analysts anticipate that AT&T will post 2.21 EPS for the current year.

Institutional Investors Weigh In On AT&T

A number of institutional investors and hedge funds have recently added to or reduced their stakes in T. Fairvoy Private Wealth LLC purchased a new position in shares of AT&T in the 4th quarter valued at $300,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in AT&T by 5.4% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 943,910 shares of the technology company’s stock worth $21,493,000 after acquiring an additional 48,607 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of AT&T by 1.9% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 17,543,563 shares of the technology company’s stock worth $399,467,000 after purchasing an additional 325,073 shares during the period. Consolidated Portfolio Review Corp boosted its holdings in shares of AT&T by 221.5% in the 4th quarter. Consolidated Portfolio Review Corp now owns 114,517 shares of the technology company’s stock valued at $2,608,000 after acquiring an additional 78,898 shares during the last quarter. Finally, Measured Wealth Private Client Group LLC purchased a new stake in AT&T in the fourth quarter valued at $332,000. Institutional investors own 57.10% of the company’s stock.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.