AT&T (NYSE:T) Price Target Increased to $23.00 by Analysts at Oppenheimer

AT&T (NYSE:T) had its price target hoisted by equities researchers at Oppenheimer from $21.00 to $23.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Oppenheimer’s price objective suggests a potential upside of 17.77% from the stock’s previous close.

A number of other analysts have also recently issued reports on T. The Goldman Sachs Group started coverage on AT&T in a report on Monday, July 1st. They set a “buy” rating and a $22.00 price objective on the stock. Barclays increased their price target on shares of AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday. UBS Group reaffirmed a “buy” rating and set a $24.00 price objective on shares of AT&T in a research note on Tuesday, June 18th. Scotiabank increased their target price on shares of AT&T from $22.50 to $23.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, July 10th. Finally, StockNews.com lowered shares of AT&T from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, AT&T has a consensus rating of “Moderate Buy” and an average target price of $22.15.

AT&T Stock Performance

Shares of AT&T stock traded up $0.37 on Thursday, reaching $19.53. 5,671,581 shares of the company traded hands, compared to its average volume of 36,532,215. The company has a 50 day moving average of $18.25 and a 200 day moving average of $17.44. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.63. AT&T has a 52 week low of $13.89 and a 52 week high of $19.53. The firm has a market capitalization of $140.03 billion, a PE ratio of 10.44, a PEG ratio of 3.44 and a beta of 0.58.

AT&T (NYSE:T) last released its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.57. The business had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The business’s revenue for the quarter was down .3% on a year-over-year basis. During the same period last year, the business posted $0.63 earnings per share. Equities analysts forecast that AT&T will post 2.23 earnings per share for the current year.

Institutional Trading of AT&T

A number of institutional investors and hedge funds have recently added to or reduced their stakes in T. Atlantic Union Bankshares Corp raised its holdings in AT&T by 83.0% in the second quarter. Atlantic Union Bankshares Corp now owns 57,274 shares of the technology company’s stock worth $1,094,000 after purchasing an additional 25,985 shares in the last quarter. LRI Investments LLC grew its stake in shares of AT&T by 29.3% in the 2nd quarter. LRI Investments LLC now owns 24,840 shares of the technology company’s stock worth $475,000 after buying an additional 5,635 shares during the last quarter. EdgeRock Capital LLC bought a new stake in AT&T in the second quarter worth $83,000. EWA LLC purchased a new stake in shares of AT&T in the second quarter worth $198,000. Finally, Family Firm Inc. purchased a new position in shares of AT&T in the 2nd quarter worth about $57,000. 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.