AT&T (NYSE:T) Price Target Raised to $24.00 at Barclays

AT&T (NYSE:T) had its price target increased by stock analysts at Barclays from $22.00 to $24.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. Barclays‘s target price points to a potential upside of 6.71% from the company’s current price.

T has been the topic of several other reports. Wells Fargo & Company raised their target price on shares of AT&T from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, October 14th. TD Cowen raised their price target on shares of AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Royal Bank of Canada boosted their price target on shares of AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a research note on Thursday, July 25th. Citigroup boosted their price target on shares of AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Finally, Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a report on Monday, September 16th. 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 given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $23.07.

AT&T Stock Up 4.6 %

AT&T stock opened at $22.49 on Thursday. The stock has a market capitalization of $161.26 billion, a PE ratio of 12.93, a price-to-earnings-growth ratio of 3.73 and a beta of 0.60. AT&T has a twelve month low of $14.74 and a twelve month high of $22.58. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. The company has a 50 day moving average of $21.09 and a 200-day moving average of $19.06.

AT&T (NYSE:T) last announced its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. The business had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The firm’s revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.64 earnings per share. On average, equities research analysts anticipate that AT&T will post 2.22 EPS for the current fiscal year.

Institutional Trading of AT&T

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC raised its stake in AT&T by 53.5% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 1,593,032 shares of the technology company’s stock valued at $35,047,000 after buying an additional 555,503 shares during the last quarter. Viewpoint Capital Management LLC increased its holdings in shares of AT&T by 17.3% during the 3rd quarter. Viewpoint Capital Management LLC now owns 37,351 shares of the technology company’s stock valued at $818,000 after purchasing an additional 5,513 shares in the last quarter. Arkadios Wealth Advisors increased its holdings in shares of AT&T by 1.9% during the 3rd quarter. Arkadios Wealth Advisors now owns 71,192 shares of the technology company’s stock valued at $1,566,000 after purchasing an additional 1,294 shares in the last quarter. NorthCrest Asset Manangement LLC increased its holdings in shares of AT&T by 44.7% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 74,752 shares of the technology company’s stock valued at $1,645,000 after purchasing an additional 23,098 shares in the last quarter. Finally, Sageworth Trust Co purchased a new stake in AT&T in the 3rd quarter worth $203,000. Hedge funds and other institutional investors 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.