UBS Group Forecasts Strong Price Appreciation for AT&T (NYSE:T) Stock

AT&T (NYSE:T) had its price objective boosted by equities researchers at UBS Group from $25.00 to $30.00 in a report released on Thursday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. UBS Group’s target price indicates a potential upside of 33.45% from the stock’s previous close.

A number of other research firms have also recently commented on T. Hsbc Global Res raised AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. New Street Research upgraded shares of AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. The Goldman Sachs Group raised their price target on shares of AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Royal Bank of Canada reissued a “sector perform” rating and issued a $22.00 target price on shares of AT&T in a research report on Thursday, October 24th. Finally, Oppenheimer assumed coverage on shares of AT&T in a research note on Tuesday, December 10th. They set an “outperform” rating and a $28.00 target price for the company. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $25.53.

AT&T Stock Performance

Shares of AT&T stock opened at $22.48 on Thursday. The business has a fifty day simple moving average of $22.55 and a two-hundred day simple moving average of $20.68. The firm has a market capitalization of $161.30 billion, a P/E ratio of 18.28, a P/E/G ratio of 3.60 and a beta of 0.59. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. AT&T has a 12 month low of $15.94 and a 12 month high of $24.03.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. During the same quarter in the prior year, the company earned $0.64 earnings per share. The business’s revenue was down .5% compared to the same quarter last year. On average, equities analysts forecast that AT&T will post 2.19 earnings per share for the current fiscal year.

Institutional Trading of AT&T

Large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake in 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 acquiring an additional 3,630,972 shares during the period. Bank of New York Mellon Corp increased its position 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 worth $1,549,375,000 after purchasing an additional 5,592,123 shares in the last quarter. FMR LLC raised its stake in AT&T by 1.9% in the 3rd quarter. FMR LLC now owns 60,986,064 shares of the technology company’s stock valued at $1,341,693,000 after purchasing an additional 1,149,688 shares during the last quarter. Legal & General Group Plc boosted its stake in AT&T by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock worth $1,148,689,000 after purchasing an additional 1,569,374 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of AT&T by 2.0% in the second quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock valued at $985,307,000 after buying an additional 1,007,228 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Company Profile

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.