AT&T (NYSE:T) Price Target Lowered to $29.00 at The Goldman Sachs Group

AT&T (NYSE:T) had its price target reduced by The Goldman Sachs Group from $33.00 to $29.00 in a report released on Friday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. The Goldman Sachs Group’s target price points to a potential upside of 19.76% from the company’s current price.

Several other analysts also recently weighed in on T. Cowen reiterated a “hold” rating on shares of AT&T in a report on Thursday, October 23rd. Citigroup reaffirmed a “buy” rating on shares of AT&T in a research note on Tuesday, August 26th. UBS Group reiterated a “buy” rating on shares of AT&T in a report on Thursday, October 23rd. Sanford C. Bernstein raised their target price on AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, September 4th. Finally, KeyCorp raised AT&T from a “sector weight” rating to an “overweight” rating and set a $30.00 target price for the company in a research report on Tuesday, November 11th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $30.36.

AT&T Trading Down 0.2%

NYSE T traded down $0.05 during trading hours on Friday, reaching $24.22. The company had a trading volume of 14,433,103 shares, compared to its average volume of 39,696,453. The stock has a 50-day moving average of $25.26 and a 200 day moving average of $27.17. AT&T has a 1-year low of $21.38 and a 1-year high of $29.79. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $171.67 billion, a P/E ratio of 7.86, a price-to-earnings-growth ratio of 1.43 and a beta of 0.38.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.54. The business had revenue of $30.71 billion during the quarter, compared to analysts’ expectations of $30.85 billion. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period last year, the business earned $0.60 earnings per share. As a group, research analysts anticipate that AT&T will post 2.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AT&T

Several hedge funds and other institutional investors have recently made changes to their positions in T. Kingstone Capital Partners Texas LLC purchased a new stake in shares of AT&T during the 2nd quarter worth approximately $5,266,758,000. Norges Bank acquired a new stake in AT&T during the 2nd quarter worth $2,228,655,000. Amundi lifted its position in AT&T by 67.5% in the third quarter. Amundi now owns 42,295,492 shares of the technology company’s stock valued at $1,094,184,000 after acquiring an additional 17,040,328 shares during the last quarter. Vanguard Group Inc. boosted its stake in AT&T by 1.6% in the second quarter. Vanguard Group Inc. now owns 661,355,210 shares of the technology company’s stock valued at $19,139,620,000 after acquiring an additional 10,310,560 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in AT&T by 32.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 34,435,357 shares of the technology company’s stock valued at $973,833,000 after acquiring an additional 8,355,686 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Company Profile

AT&T Inc is a global telecommunications company that provides a broad range of communications and digital entertainment services. Its core activities include consumer and business wireless services, broadband and fiber internet, and network infrastructure. The company operates branded wireless services through AT&T Mobility and deploys fixed-line and fiber networks to deliver high-speed internet and related home services.

AT&T’s product and service portfolio spans mobile voice and data plans, smartphones and device sales, home internet (including fiber-to-the-home where available), and managed connectivity solutions for enterprise customers.