Oppenheimer Initiates Coverage on AT&T (NYSE:T)

Stock analysts at Oppenheimer began coverage on shares of AT&T (NYSE:T) in a report released on Tuesday. The firm set an “outperform” rating and a $28.00 price target on the technology company’s stock. Oppenheimer’s price target indicates a potential upside of 19.76% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on the company. JPMorgan Chase & Co. upped their price target on AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Redburn Atlantic raised AT&T to a “strong sell” rating in a report on Monday, September 16th. Barclays lifted their price target on AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Wells Fargo & Company lowered their price objective on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Finally, New Street Research upgraded shares of AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $24.80.

AT&T Stock Down 2.1 %

T stock opened at $23.38 on Tuesday. The stock has a market capitalization of $167.76 billion, a PE ratio of 19.01, a price-to-earnings-growth ratio of 3.63 and a beta of 0.59. The company has a fifty day moving average of $22.39 and a 200-day moving average of $20.43. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. AT&T has a one year low of $15.94 and a one year high of $24.03.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $30.50 billion. During the same quarter in the previous year, the firm posted $0.64 EPS. The firm’s quarterly revenue was down .5% on a year-over-year basis. As a group, analysts expect that AT&T will post 2.19 EPS for the current year.

Hedge Funds Weigh In On AT&T

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC lifted its position in AT&T by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock worth $3,532,684,000 after acquiring an additional 3,630,972 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of AT&T by 7.4% during the second quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock valued at $1,549,375,000 after purchasing an additional 5,592,123 shares during the period. FMR LLC lifted 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 purchasing an additional 1,149,688 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of AT&T by 2.7% in the second quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock valued at $1,148,689,000 after purchasing an additional 1,569,374 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in AT&T by 2.0% during 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 in the last quarter. Institutional investors and hedge funds 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.