AT&T (NYSE:T) Given New $28.00 Price Target at JPMorgan Chase & Co.

AT&T (NYSE:T) had its target price boosted by research analysts at JPMorgan Chase & Co. from $25.00 to $28.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 18.92% from the stock’s previous close.

A number of other brokerages also recently weighed in on T. Wells Fargo & Company dropped their target price on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Evercore ISI lifted their price target on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. Moffett Nathanson lifted their price target on shares of AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Finally, Tigress Financial lifted their price target on shares of AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $24.33.

AT&T Trading Down 0.8 %

Shares of T stock opened at $23.55 on Wednesday. AT&T has a 12-month low of $15.94 and a 12-month high of $24.03. The company has a market capitalization of $168.94 billion, a P/E ratio of 19.14, a P/E/G ratio of 3.56 and a beta of 0.59. The firm has a 50-day moving average price of $22.28 and a 200 day moving average price of $20.28. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T) last announced its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The company had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. During the same period in the previous year, the firm posted $0.64 earnings per share. The company’s revenue was down .5% on a year-over-year basis. Research analysts forecast that AT&T will post 2.22 earnings per share for the current fiscal year.

Institutional Trading of AT&T

A number of institutional investors have recently made changes to their positions in the business. Davidson Kempner Capital Management LP bought a new stake in AT&T during the second quarter worth $23,888,000. Swiss National Bank raised its position in AT&T by 0.5% during the third quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock worth $468,217,000 after acquiring an additional 104,700 shares in the last quarter. Caprock Group LLC raised its position in AT&T by 18.3% during the third quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock worth $4,312,000 after acquiring an additional 30,281 shares in the last quarter. Talbot Financial LLC bought a new stake in AT&T during the third quarter worth $7,438,000. Finally, Mackenzie Financial Corp raised its position in AT&T by 12.2% during the second quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock worth $50,486,000 after acquiring an additional 288,093 shares in the last quarter. Institutional investors 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.