AT&T (NYSE:T) Stock Price Expected to Rise, Scotiabank Analyst Says

AT&T (NYSE:T - Get Free Report) had its target price raised by equities research analysts at Scotiabank from $26.00 to $28.50 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a "sector outperform" rating on the technology company's stock. Scotiabank's price objective would suggest a potential upside of 2.79% from the stock's current price.

Other equities research analysts also recently issued reports about the company. BNP Paribas upgraded AT&T from a "neutral" rating to an "outperform" rating and set a $28.50 price objective for the company in a report on Thursday, February 13th. Morgan Stanley upgraded shares of AT&T from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $19.00 to $28.00 in a research report on Monday, December 16th. Oppenheimer assumed coverage on AT&T in a research note on Tuesday, December 10th. They issued an "outperform" rating and a $28.00 price objective on the stock. UBS Group upped their target price on shares of AT&T from $25.00 to $30.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. Finally, Barclays increased their price objective on shares of AT&T from $24.00 to $27.00 and gave the company an "overweight" rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $26.45.

AT&T Stock Up 1.2 %

T stock traded up $0.32 during midday trading on Monday, hitting $27.73. The stock had a trading volume of 10,318,566 shares, compared to its average volume of 38,870,641. AT&T has a 52-week low of $15.94 and a 52-week high of $27.86. The firm has a market cap of $199.03 billion, a price-to-earnings ratio of 18.66, a price-to-earnings-growth ratio of 3.00 and a beta of 0.59. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The business has a 50-day moving average of $23.91 and a two-hundred day moving average of $22.58.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. As a group, equities research analysts forecast that AT&T will post 2.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in AT&T by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company's stock valued at $14,637,914,000 after purchasing an additional 6,220,442 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of AT&T by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 163,761,301 shares of the technology company's stock valued at $3,719,723,000 after buying an additional 2,640,644 shares in the last quarter. GQG Partners LLC grew its position in shares of AT&T by 37.3% in the 4th quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company's stock worth $2,203,667,000 after buying an additional 26,280,866 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of AT&T by 7.1% in the 4th 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 buying an additional 5,649,277 shares during the last quarter. Finally, Norges Bank bought a new position in shares of AT&T during the 4th quarter worth approximately $1,858,418,000. Hedge funds and other institutional investors 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.

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