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

AT&T (NYSE:T) had its price target upped by equities researchers at Scotiabank from $24.00 to $26.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “sector outperform” rating on the technology company’s stock. Scotiabank’s price target would suggest a potential upside of 7.84% from the stock’s current price.

A number of other research firms have also recently commented on T. Barclays upped their target price on shares of AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Hsbc Global Res raised AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Sanford C. Bernstein raised their price target on AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a research report on Tuesday. Wells Fargo & Company decreased their target price on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Finally, UBS Group raised their target price on AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $26.06.

AT&T Price Performance

Shares of NYSE T traded down $0.03 during mid-day trading on Tuesday, reaching $24.11. The company’s stock had a trading volume of 10,384,567 shares, compared to its average volume of 36,496,695. The stock has a 50-day moving average of $22.80 and a two-hundred day moving average of $21.48. 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 stock has a market capitalization of $173.00 billion, a P/E ratio of 19.58, a P/E/G ratio of 3.50 and a beta of 0.59. AT&T has a 1-year low of $15.94 and a 1-year high of $24.36.

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 return on equity of 13.97% and a net margin of 7.42%. On average, equities research analysts anticipate that AT&T will post 2.21 EPS for the current fiscal year.

Hedge Funds Weigh In On AT&T

A number of hedge funds have recently modified their holdings of the business. Geode Capital Management LLC lifted its holdings in shares of AT&T by 2.3% during the third quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock worth $3,532,684,000 after purchasing an additional 3,630,972 shares during the period. Franklin Resources Inc. raised its position in AT&T by 41.4% during the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock worth $168,969,000 after buying an additional 2,326,904 shares during the last quarter. National Pension Service lifted its stake in shares of AT&T by 15.8% in the 3rd quarter. National Pension Service now owns 15,769,707 shares of the technology company’s stock worth $346,934,000 after acquiring an additional 2,152,016 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of AT&T by 112.9% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,916,698 shares of the technology company’s stock valued at $64,167,000 after acquiring an additional 1,546,679 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in shares of AT&T by 7.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 17,218,490 shares of the technology company’s stock worth $378,807,000 after acquiring an additional 1,206,330 shares during the period. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

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.