AT&T’s (T) Buy Rating Reaffirmed at UBS Group

UBS Group restated their buy rating on shares of AT&T (NYSE:T) in a research report sent to investors on Wednesday morning, MarketBeat Ratings reports. UBS Group currently has a $31.00 price objective on the technology company’s stock, up from their prior price objective of $30.00.

Other equities research analysts have also issued research reports about the company. Wall Street Zen raised AT&T from a “hold” rating to a “buy” rating in a research report on Friday, April 25th. Scotiabank restated an “outperform” rating on shares of AT&T in a research note on Thursday, April 24th. Morgan Stanley restated an “overweight” rating and set a $31.00 price target (up previously from $30.00) on shares of AT&T in a research note on Thursday, April 24th. JPMorgan Chase & Co. lifted their target price on AT&T from $28.00 to $31.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. Finally, Oppenheimer lifted their price target on AT&T from $27.00 to $32.00 and gave the company an “outperform” rating in a research note on Tuesday, April 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $28.76.

AT&T Stock Performance

NYSE T opened at $27.79 on Wednesday. The stock has a market cap of $199.96 billion, a PE ratio of 17.05, a P/E/G ratio of 3.85 and a beta of 0.41. The company has a current ratio of 0.70, a quick ratio of 0.65 and a debt-to-equity ratio of 0.98. AT&T has a twelve month low of $18.07 and a twelve month high of $29.03. The stock has a fifty day simple moving average of $27.53 and a 200-day simple moving average of $25.78.

AT&T (NYSE:T) last posted its earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). AT&T had a return on equity of 13.63% and a net margin of 9.64%. The firm had revenue of $30.63 billion for the quarter, compared to analyst estimates of $30.39 billion. During the same period in the previous year, the company posted $0.55 EPS. AT&T’s revenue was up 2.0% on a year-over-year basis. Equities analysts anticipate that AT&T will post 2.14 earnings per share for the current year.

Hedge Funds Weigh In On AT&T

A number of institutional investors have recently made changes to their positions in T. Voya Investment Management LLC grew its position in shares of AT&T by 40.2% in the first quarter. Voya Investment Management LLC now owns 13,783,497 shares of the technology company’s stock valued at $389,797,000 after purchasing an additional 3,949,094 shares during the period. Howe & Rusling Inc. boosted its position in shares of AT&T by 9.1% in the first quarter. Howe & Rusling Inc. now owns 11,645 shares of the technology company’s stock worth $329,000 after buying an additional 970 shares during the period. Compass Financial Services Inc boosted its position in shares of AT&T by 86.8% in the first quarter. Compass Financial Services Inc now owns 3,812 shares of the technology company’s stock worth $108,000 after buying an additional 1,771 shares during the period. 1248 Management LLC purchased a new stake in shares of AT&T in the first quarter worth about $50,000. Finally, Cim LLC acquired a new position in shares of AT&T in the first quarter worth about $221,000. 57.10% of the stock is owned by institutional investors and hedge funds.

About AT&T

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.