AT&T (NYSE:T) Given New $30.00 Price Target at Wells Fargo & Company

AT&T (NYSE:T - Get Free Report) had its price target hoisted by Wells Fargo & Company from $27.00 to $30.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the technology company's stock. Wells Fargo & Company's target price would indicate a potential upside of 8.71% from the stock's current price.

Several other research analysts have also recently weighed in on the stock. StockNews.com cut shares of AT&T from a "buy" rating to a "hold" rating in a report on Thursday, April 17th. Royal Bank of Canada increased their price objective on shares of AT&T from $27.00 to $28.00 and gave the company an "outperform" rating in a research report on Wednesday, March 19th. Sanford C. Bernstein lifted their price objective on shares of AT&T from $28.00 to $29.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th. Citigroup reaffirmed a "buy" rating on shares of AT&T in a research note on Monday, April 7th. Finally, Evercore ISI increased their price target on AT&T from $25.00 to $27.00 and gave the stock an "in-line" rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $27.87.

AT&T Stock Performance

Shares of T opened at $27.60 on Thursday. The stock has a 50 day moving average price of $26.91 and a two-hundred day moving average price of $24.24. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. The firm has a market capitalization of $198.09 billion, a P/E ratio of 18.51, a P/E/G ratio of 3.00 and a beta of 0.42. AT&T has a 52 week low of $16.38 and a 52 week high of $29.03.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). AT&T had a return on equity of 13.97% and a net margin of 8.95%. The company had revenue of $30.63 billion during the quarter, compared to the consensus estimate of $30.39 billion. Equities analysts forecast that AT&T will post 2.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AT&T

Hedge funds have recently bought and sold shares of the company. Passumpsic Savings Bank raised its holdings in shares of AT&T by 12.2% in the third quarter. Passumpsic Savings Bank now owns 17,369 shares of the technology company's stock valued at $382,000 after purchasing an additional 1,893 shares during the last quarter. Sculati Wealth Management LLC grew its position in AT&T by 38.9% during the 3rd quarter. Sculati Wealth Management LLC now owns 45,581 shares of the technology company's stock worth $1,003,000 after acquiring an additional 12,772 shares during the last quarter. Pine Valley Investments Ltd Liability Co raised its stake in shares of AT&T by 6.1% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 129,474 shares of the technology company's stock valued at $2,848,000 after acquiring an additional 7,394 shares during the last quarter. World Investment Advisors LLC boosted its holdings in AT&T by 28.4% in the third quarter. World Investment Advisors LLC now owns 174,118 shares of the technology company's stock valued at $3,831,000 after acquiring an additional 38,548 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB raised its position in shares of AT&T by 386.1% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 266,565 shares of the technology company's stock worth $5,864,000 after acquiring an additional 211,723 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

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.

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