JPMorgan Chase & Co. Boosts AT&T (NYSE:T) Price Target to $24.00

AT&T (NYSE:T) had its price target boosted by equities research analysts at JPMorgan Chase & Co. from $21.00 to $24.00 in a research report issued on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 22.89% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. Scotiabank boosted their target price on shares of AT&T from $22.50 to $23.00 and gave the company a “sector outperform” rating in a research report on Wednesday, July 10th. Barclays upped their price objective on shares of AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday. StockNews.com cut shares of AT&T from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. BNP Paribas upgraded shares of AT&T from an “underperform” rating to a “neutral” rating in a research report on Tuesday, June 11th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $18.00 price objective on shares of AT&T in a research report on Wednesday, July 10th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, AT&T presently has an average rating of “Moderate Buy” and an average price target of $22.46.

AT&T Stock Performance

NYSE T traded up $0.37 during trading on Thursday, reaching $19.53. The company’s stock had a trading volume of 21,358,229 shares, compared to its average volume of 36,642,688. The firm has a 50 day moving average price of $18.25 and a 200 day moving average price of $17.44. The firm has a market capitalization of $140.03 billion, a price-to-earnings ratio of 10.50, a price-to-earnings-growth ratio of 3.44 and a beta of 0.58. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.06. AT&T has a 12 month low of $13.89 and a 12 month high of $19.73.

AT&T (NYSE:T) last issued its earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, meeting the consensus estimate of $0.57. The company had revenue of $29.80 billion during the quarter, compared to analysts’ expectations of $30.05 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The business’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.63 EPS. As a group, equities analysts anticipate that AT&T will post 2.23 EPS for the current fiscal year.

Institutional Investors Weigh In On AT&T

A number of institutional investors have recently modified their holdings of the company. WealthCare Investment Partners LLC boosted its position in AT&T by 2.2% in the second quarter. WealthCare Investment Partners LLC now owns 24,138 shares of the technology company’s stock valued at $461,000 after buying an additional 525 shares during the last quarter. Fortitude Family Office LLC boosted its position in AT&T by 1.3% in the second quarter. Fortitude Family Office LLC now owns 42,154 shares of the technology company’s stock valued at $806,000 after buying an additional 559 shares during the last quarter. Riverview Trust Co boosted its position in AT&T by 4.6% in the second quarter. Riverview Trust Co now owns 13,368 shares of the technology company’s stock valued at $255,000 after buying an additional 592 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc boosted its position in AT&T by 1.7% in the fourth quarter. Texas Capital Bank Wealth Management Services Inc now owns 35,098 shares of the technology company’s stock valued at $589,000 after buying an additional 598 shares during the last quarter. Finally, Klingman & Associates LLC boosted its position in AT&T by 3.1% in the first quarter. Klingman & Associates LLC now owns 19,889 shares of the technology company’s stock valued at $350,000 after buying an additional 603 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

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.