Oppenheimer Raises AT&T (NYSE:T) Price Target to $24.00

AT&T (NYSE:T) had its target price boosted by equities research analysts at Oppenheimer from $23.00 to $24.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Oppenheimer’s price target would suggest a potential upside of 9.89% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Evercore ISI raised their price objective on AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a research note on Thursday, July 25th. Daiwa America upgraded shares of AT&T to a “hold” rating in a report on Friday, July 26th. Scotiabank lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Royal Bank of Canada lifted their target price on shares of AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 25th. Finally, Wells Fargo & Company reduced their target price on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.40.

AT&T Trading Down 1.6 %

NYSE:T opened at $21.84 on Thursday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. AT&T has a one year low of $14.74 and a one year high of $22.58. The company has a market cap of $156.60 billion, a PE ratio of 11.74, a PEG ratio of 3.67 and a beta of 0.60. The firm has a 50-day moving average of $21.15 and a 200-day moving average of $19.08.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The firm had revenue of $30.20 billion during the quarter, compared to analyst estimates of $30.50 billion. During the same period in the previous year, the company posted $0.64 EPS. The company’s revenue for the quarter was down .5% on a year-over-year basis. As a group, equities research analysts expect that AT&T will post 2.22 EPS for the current fiscal year.

Hedge Funds Weigh In On AT&T

Several hedge funds have recently made changes to their positions in the stock. Strategic Financial Concepts LLC increased its position in shares of AT&T by 227.6% during the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after buying an additional 91,578 shares during the period. Riggs Asset Managment Co. Inc. increased its holdings in AT&T by 356.5% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after acquiring an additional 1,116 shares during the period. American Capital Advisory LLC lifted its stake in AT&T by 107.5% in the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after purchasing an additional 807 shares in the last quarter. Altshuler Shaham Ltd bought a new position in AT&T in the 2nd quarter valued at $30,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its position in shares of AT&T by 176.6% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock valued at $35,000 after purchasing an additional 1,192 shares in the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

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.