AT&T (NYSE:T) was upgraded by equities researchers at ValuEngine from a “strong sell” rating to a “sell” rating in a research note issued on Wednesday.

Several other research analysts have also commented on T. Moffett Nathanson upgraded AT&T from a “sell” rating to a “neutral” rating and set a $28.00 price target on the stock in a report on Monday, November 26th. JPMorgan Chase & Co. upgraded AT&T from a “neutral” rating to an “overweight” rating and set a $38.00 price target on the stock in a report on Monday, December 3rd. Cowen upgraded AT&T from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $34.00 to $36.00 in a report on Monday, December 3rd. Citigroup upgraded AT&T from a “neutral” rating to a “buy” rating and set a $34.00 price target on the stock in a report on Tuesday, December 11th. Finally, Bank of America reiterated a “buy” rating and set a $37.00 price target on shares of AT&T in a report on Friday, December 14th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $35.71.

AT&T stock traded down $0.17 during trading on Wednesday, reaching $30.51. The company had a trading volume of 22,454,273 shares, compared to its average volume of 32,464,143. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market capitalization of $189.08 billion, a P/E ratio of 8.67, a P/E/G ratio of 1.30 and a beta of 0.59. AT&T has a 1-year low of $26.80 and a 1-year high of $36.50.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, January 30th. The technology company reported $0.86 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.86. The company had revenue of $47.99 billion for the quarter, compared to analyst estimates of $48.50 billion. AT&T had a return on equity of 13.47% and a net margin of 11.34%. The firm’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.78 EPS. Sell-side analysts predict that AT&T will post 3.6 EPS for the current year.

In related news, CEO John T. Stankey sold 3,748 shares of the company’s stock in a transaction that occurred on Thursday, January 31st. The stock was sold at an average price of $29.84, for a total value of $111,840.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.07% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. NuWave Investment Management LLC acquired a new position in AT&T during the fourth quarter worth $40,000. WealthTrust Arizona LLC grew its holdings in AT&T by 76.2% during the fourth quarter. WealthTrust Arizona LLC now owns 1,427 shares of the technology company’s stock worth $41,000 after acquiring an additional 617 shares during the period. Smart Portfolios LLC grew its holdings in AT&T by 44.8% during the fourth quarter. Smart Portfolios LLC now owns 1,615 shares of the technology company’s stock worth $46,000 after acquiring an additional 500 shares during the period. Cranbrook Wealth Management LLC grew its holdings in AT&T by 76.4% during the fourth quarter. Cranbrook Wealth Management LLC now owns 1,596 shares of the technology company’s stock worth $46,000 after acquiring an additional 691 shares during the period. Finally, PRW Wealth Management LLC acquired a new position in AT&T during the fourth quarter worth $53,000. Institutional investors own 63.35% of the company’s stock.

AT&T Company Profile

AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.

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Analyst Recommendations for AT&T (NYSE:T)

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