AT&T (NYSE:T) Trading 0.9% Higher – What’s Next?

AT&T Inc. (NYSE:T)’s stock price was up 0.9% on Monday . The stock traded as high as $26.84 and last traded at $26.81. Approximately 8,568,174 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 41,389,016 shares. The stock had previously closed at $26.58.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Tigress Financial lifted their target price on shares of AT&T from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Oppenheimer assumed coverage on shares of AT&T in a research report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 target price for the company. Royal Bank of Canada lifted their target price on shares of AT&T from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Sanford C. Bernstein lifted their target price on shares of AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Finally, The Goldman Sachs Group boosted their price objective on shares of AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $26.74.

AT&T Stock Down 0.8 %

The stock has a market capitalization of $190.97 billion, a price-to-earnings ratio of 17.86, a PEG ratio of 3.00 and a beta of 0.56. The firm’s fifty day moving average is $24.84 and its 200-day moving average is $23.18. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62.

AT&T (NYSE:T) last posted its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. On average, sell-side analysts predict that AT&T Inc. will post 2.14 earnings per share for the current year.

Institutional Trading of AT&T

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of AT&T by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company’s stock worth $14,637,914,000 after buying an additional 6,220,442 shares during the period. Geode Capital Management LLC lifted its position in shares of AT&T by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 163,761,301 shares of the technology company’s stock worth $3,719,723,000 after purchasing an additional 2,640,644 shares in the last quarter. GQG Partners LLC lifted its position in shares of AT&T by 37.3% in the fourth quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock worth $2,203,667,000 after purchasing an additional 26,280,866 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of AT&T by 7.1% in the fourth quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company’s stock worth $1,948,943,000 after purchasing an additional 5,649,277 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of AT&T in the fourth quarter worth approximately $1,858,418,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Company Profile

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.