AT&T (NYSE:T) Price Target Raised to $30.00 at Tigress Financial

AT&T (NYSE:T) had its price objective raised by analysts at Tigress Financial from $29.00 to $30.00 in a research report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Tigress Financial’s price target indicates a potential upside of 36.99% from the company’s previous close.

Several other research firms also recently issued reports on T. UBS Group reaffirmed a “buy” rating and set a $24.00 price objective on shares of AT&T in a report on Tuesday, June 18th. Deutsche Bank Aktiengesellschaft raised their price target on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, June 28th. BNP Paribas upgraded AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 11th. The Goldman Sachs Group initiated coverage on AT&T in a research report on Monday, July 1st. They issued a “buy” rating and a $22.00 target price on the stock. Finally, TD Cowen boosted their price target on AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, AT&T currently has an average rating of “Hold” and a consensus target price of $22.38.

AT&T Trading Up 1.2 %

T stock opened at $21.90 on Friday. AT&T has a 52-week low of $14.12 and a 52-week high of $22.34. 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 firm has a market cap of $157.03 billion, a P/E ratio of 11.77, a PEG ratio of 3.68 and a beta of 0.59. The company’s 50-day simple moving average is $20.15 and its 200-day simple moving average is $18.50.

AT&T (NYSE:T) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. AT&T’s quarterly revenue was down .3% compared to the same quarter last year. During the same period last year, the company earned $0.63 earnings per share. As a group, equities analysts forecast that AT&T will post 2.2 EPS for the current fiscal year.

Institutional Investors Weigh In On AT&T

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of AT&T by 0.4% during the first quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock valued at $10,999,912,000 after acquiring an additional 2,588,539 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in AT&T by 7.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock valued at $1,549,375,000 after purchasing an additional 5,592,123 shares during the last quarter. Legal & General Group Plc raised its position in AT&T by 2.7% in the second quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock valued at $1,148,689,000 after purchasing an additional 1,569,374 shares during the period. Ameriprise Financial Inc. lifted its stake in AT&T by 2.0% during the second quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock worth $985,307,000 after purchasing an additional 1,007,228 shares in the last quarter. Finally, LSV Asset Management boosted its position in shares of AT&T by 1.1% during the second quarter. LSV Asset Management now owns 30,092,610 shares of the technology company’s stock worth $575,070,000 after buying an additional 315,580 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

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.