Citigroup Inc. Increases AT&T Inc. (T) Price Target to $54.00

AT&T Inc. (NYSE:T) had its price objective upped by investment analysts at Citigroup Inc. from $52.00 to $54.00 in a research report issued to clients and investors on Friday. The brokerage presently has a “buy” rating on the technology company’s stock. Citigroup Inc.’s target price suggests a potential upside of 57.80% from the stock’s previous close.

T has been the subject of a number of other research reports. Macquarie reissued a “buy” rating and issued a $43.00 price objective on shares of AT&T in a research report on Friday, September 1st. Vetr raised shares of AT&T from a “buy” rating to a “strong-buy” rating and set a $44.24 price objective for the company in a research report on Thursday, September 28th. Zacks Investment Research raised shares of AT&T from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. KeyCorp restated a “hold” rating on shares of AT&T in a research note on Wednesday, October 11th. Finally, Robert W. Baird cut their target price on shares of AT&T from $43.00 to $42.00 and set an “outperform” rating for the company in a research note on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, eighteen have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $43.48.

AT&T (NYSE:T) opened at $34.22 on Friday. The firm has a market cap of $210,076.59, a price-to-earnings ratio of 11.68, a P/E/G ratio of 2.76 and a beta of 0.42. AT&T has a 12-month low of $32.55 and a 12-month high of $43.03. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.60 and a quick ratio of 1.12.

AT&T (NYSE:T) last released its earnings results on Tuesday, October 24th. The technology company reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.01). The business had revenue of $39.67 billion during the quarter, compared to the consensus estimate of $40.34 billion. AT&T had a net margin of 8.00% and a return on equity of 14.49%. The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period last year, the business posted $0.74 EPS. equities analysts forecast that AT&T will post 2.93 EPS for the current year.

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In other news, Director Matthew K. Rose bought 29,600 shares of AT&T stock in a transaction dated Wednesday, October 25th. The stock was purchased at an average price of $33.75 per share, for a total transaction of $999,000.00. Following the purchase, the director now directly owns 3,100 shares in the company, valued at approximately $104,625. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.09% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Ropes Wealth Advisors LLC grew its stake in shares of AT&T by 2.8% in the 3rd quarter. Ropes Wealth Advisors LLC now owns 68,490 shares of the technology company’s stock worth $2,683,000 after acquiring an additional 1,834 shares in the last quarter. Zeke Capital Advisors LLC grew its position in AT&T by 72.5% during the third quarter. Zeke Capital Advisors LLC now owns 95,181 shares of the technology company’s stock valued at $3,728,000 after buying an additional 39,990 shares during the period. Amalgamated Bank grew its position in AT&T by 1.9% during the third quarter. Amalgamated Bank now owns 706,675 shares of the technology company’s stock valued at $27,680,000 after buying an additional 13,314 shares during the period. Twin Capital Management Inc. grew its position in AT&T by 33.6% during the third quarter. Twin Capital Management Inc. now owns 769,560 shares of the technology company’s stock valued at $30,144,000 after buying an additional 193,410 shares during the period. Finally, Johnson Financial Group Inc. grew its position in AT&T by 3.4% during the third quarter. Johnson Financial Group Inc. now owns 138,276 shares of the technology company’s stock valued at $5,416,000 after buying an additional 4,533 shares during the period. Hedge funds and other institutional investors own 55.04% of the company’s stock.

AT&T Company Profile

AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.

Analyst Recommendations for AT&T (NYSE:T)

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