Sanford C. Bernstein Raises AT&T (NYSE:T) Price Target to $29.00

AT&T (NYSE:T) had its price target hoisted by equities research analysts at Sanford C. Bernstein from $28.00 to $29.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Sanford C. Bernstein’s price target points to a potential upside of 19.67% from the stock’s current price.

Several other equities analysts have also recently issued reports on T. UBS Group lifted their price target on AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Oppenheimer initiated coverage on shares of AT&T in a research report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price target on the stock. Royal Bank of Canada raised shares of AT&T from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $22.00 to $26.00 in a report on Monday, January 6th. 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 report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $26.11.

AT&T Stock Performance

T stock opened at $24.23 on Tuesday. The company has a 50-day simple moving average of $22.86 and a 200 day simple moving average of $21.55. The company has a market capitalization of $173.89 billion, a P/E ratio of 19.70, a PEG ratio of 3.50 and a beta of 0.59. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. AT&T has a fifty-two week low of $15.94 and a fifty-two week high of $24.98.

AT&T (NYSE:T) last issued its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a net margin of 7.42% and a return on equity of 13.97%. Sell-side analysts predict that AT&T will post 2.21 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AT&T

Several institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC raised its position in AT&T by 2.3% during the third 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 in the last quarter. Franklin Resources Inc. increased its stake in shares of AT&T by 41.4% during the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock worth $168,969,000 after purchasing an additional 2,326,904 shares during the last quarter. National Pension Service raised its holdings in shares of AT&T by 15.8% during the 3rd quarter. National Pension Service now owns 15,769,707 shares of the technology company’s stock valued at $346,934,000 after purchasing an additional 2,152,016 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of AT&T by 112.9% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,916,698 shares of the technology company’s stock valued at $64,167,000 after purchasing an additional 1,546,679 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its holdings in AT&T by 7.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 17,218,490 shares of the technology company’s stock worth $378,807,000 after purchasing an additional 1,206,330 shares in the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

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.