Argus Upgrades AT&T (NYSE:T) to Buy

AT&T (NYSE:T - Get Free Report) was upgraded by research analysts at Argus from a "hold" rating to a "buy" rating in a research note issued on Thursday, Marketbeat reports. The firm presently has a $27.00 price target on the technology company's stock. Argus' price target points to a potential upside of 21.10% from the stock's previous close.

A number of other research firms have also recently weighed in on T. Barclays increased their price target on AT&T from $24.00 to $27.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. Morgan Stanley upgraded shares of AT&T from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $19.00 to $28.00 in a research report on Monday, December 16th. New Street Research upgraded shares of AT&T from a "neutral" rating to a "buy" rating in a report on Tuesday, December 3rd. The Goldman Sachs Group boosted their target price on AT&T from $25.00 to $28.00 and gave the company a "buy" rating in a research report on Thursday, December 5th. Finally, Evercore ISI increased their target price on AT&T from $19.00 to $21.00 and gave the stock an "in-line" rating in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, AT&T has a consensus rating of "Moderate Buy" and a consensus price target of $25.83.

AT&T Trading Up 1.2 %

AT&T stock traded up $0.28 during midday trading on Thursday, hitting $22.30. 33,632,584 shares of the stock were exchanged, compared to its average volume of 34,178,367. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The stock's 50-day simple moving average is $22.79 and its 200 day simple moving average is $21.29. AT&T has a fifty-two week low of $15.94 and a fifty-two week high of $24.03. The stock has a market capitalization of $159.97 billion, a price-to-earnings ratio of 18.13, a PEG ratio of 3.46 and a beta of 0.59.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. The firm had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business's revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.64 EPS. On average, equities analysts anticipate that AT&T will post 2.2 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Geode Capital Management LLC boosted its position in shares of AT&T by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company's stock valued at $3,532,684,000 after purchasing an additional 3,630,972 shares during the period. FMR LLC grew its position in shares of AT&T by 1.9% during the third quarter. FMR LLC now owns 60,986,064 shares of the technology company's stock worth $1,341,693,000 after acquiring an additional 1,149,688 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of AT&T by 2.7% in the 2nd quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company's stock valued at $1,148,689,000 after acquiring an additional 1,569,374 shares during the period. Ameriprise Financial Inc. raised its position in AT&T by 2.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company's stock valued at $985,307,000 after purchasing an additional 1,007,228 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its stake in AT&T by 2.5% during the 2nd quarter. Pacer Advisors Inc. now owns 28,113,880 shares of the technology company's stock worth $537,256,000 after purchasing an additional 675,082 shares during the period. Institutional investors and hedge funds own 57.10% of the company's stock.

About AT&T

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.