AT&T (NYSE:T) Given New $26.00 Price Target at Citigroup

AT&T (NYSE:T) had its price target hoisted by stock analysts at Citigroup from $24.00 to $26.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Citigroup’s price target would indicate a potential upside of 11.73% from the company’s current price.

T has been the topic of a number of other reports. Redburn Atlantic raised AT&T to a “strong sell” rating in a research note on Monday, September 16th. Scotiabank cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $22.00 price target on shares of AT&T in a research report on Thursday, October 24th. Tigress Financial lifted their price target on shares of AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a report on Friday, September 27th. Finally, Oppenheimer upped their price objective on AT&T from $23.00 to $24.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $23.53.

AT&T Stock Performance

Shares of NYSE T opened at $23.27 on Wednesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. The company has a market cap of $166.97 billion, a PE ratio of 18.92, a price-to-earnings-growth ratio of 3.47 and a beta of 0.59. The company has a 50-day simple moving average of $22.14 and a 200-day simple moving average of $20.09. AT&T has a 12 month low of $15.94 and a 12 month high of $23.38.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. 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 EPS. AT&T’s revenue was down .5% on a year-over-year basis. On average, equities analysts anticipate that AT&T will post 2.22 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV increased its holdings in AT&T by 1,379.0% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock worth $270,581,000 after purchasing an additional 13,201,774 shares during the last quarter. AQR Capital Management LLC grew its position in shares of AT&T by 43.3% during the second quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock worth $414,563,000 after buying an additional 6,602,586 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of AT&T by 7.4% in the second quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock worth $1,549,375,000 after buying an additional 5,592,123 shares during the last quarter. Thornburg Investment Management Inc. raised its holdings in AT&T by 22.0% in the second quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock valued at $477,528,000 after acquiring an additional 4,511,725 shares in the last quarter. Finally, Jupiter Asset Management Ltd. bought a new position in AT&T during the 2nd quarter valued at $78,570,000. 57.10% of the stock is owned by institutional investors and hedge funds.

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.