AT&T (T) Boosted at Cowen

AT&T (T) Boosted  at Cowen

Cowen upgraded shares of AT&T (NYSE:T) from a market perform rating to an outperform rating in a research report released on Monday morning, Marketbeat.com reports. The brokerage currently has $36.00 target price on the technology company’s stock, up from their prior target price of $34.00.

Several other analysts have also recently weighed in on the stock. Tigress Financial raised shares of AT&T from a neutral rating to a buy rating in a research note on Monday, October 22nd. Bank of America reaffirmed a buy rating on shares of AT&T in a research note on Tuesday, August 21st. Moffett Nathanson upgraded shares of AT&T from a sell rating to a neutral rating and set a $28.00 target price on the stock in a research report on Monday, November 26th. JPMorgan Chase & Co. upgraded shares of AT&T from a neutral rating to an overweight rating and set a $38.00 target price on the stock in a research report on Monday. Finally, Robert W. Baird reduced their target price on shares of AT&T from $38.00 to $35.00 and set an outperform rating on the stock in a research report on Thursday, October 25th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of Hold and an average target price of $36.42.

Shares of AT&T stock opened at $30.53 on Monday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.91. The stock has a market cap of $188.65 billion, a price-to-earnings ratio of 10.01, a PEG ratio of 1.69 and a beta of 0.44. AT&T has a 1-year low of $28.85 and a 1-year high of $39.33.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, October 24th. The technology company reported $0.90 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.04). The firm had revenue of $45.74 billion for the quarter, compared to the consensus estimate of $45.73 billion. AT&T had a return on equity of 13.61% and a net margin of 20.40%. AT&T’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.74 earnings per share. As a group, equities analysts anticipate that AT&T will post 3.51 EPS for the current year.

In related news, Director Michael B. Mccallister bought 4,000 shares of AT&T stock in a transaction dated Friday, October 26th. The shares were bought at an average cost of $29.14 per share, for a total transaction of $116,560.00. Following the completion of the transaction, the director now owns 7,361 shares of the company’s stock, valued at $214,499.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Great Lakes Advisors LLC raised its holdings in AT&T by 2.2% in the third quarter. Great Lakes Advisors LLC now owns 68,734 shares of the technology company’s stock worth $2,308,000 after purchasing an additional 1,479 shares during the period. Ibex Wealth Advisors raised its holdings in AT&T by 0.8% in the third quarter. Ibex Wealth Advisors now owns 198,405 shares of the technology company’s stock worth $6,644,000 after purchasing an additional 1,493 shares during the period. SSI Investment Management Inc. raised its holdings in AT&T by 10.0% in the second quarter. SSI Investment Management Inc. now owns 17,160 shares of the technology company’s stock worth $549,000 after purchasing an additional 1,553 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc. raised its holdings in AT&T by 1.7% in the second quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 95,276 shares of the technology company’s stock worth $3,059,000 after purchasing an additional 1,553 shares during the period. Finally, Tradewinds Capital Management LLC raised its holdings in AT&T by 27.0% in the second quarter. Tradewinds Capital Management LLC now owns 7,332 shares of the technology company’s stock worth $235,000 after purchasing an additional 1,560 shares during the period. Institutional investors and hedge funds own 63.61% of the company’s stock.

About AT&T

AT&T Inc provides communications and digital entertainment services. The company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility, and International. The Business Solutions segment offers wireless services, strategic services, legacy voice, data services, wireless equipment, and other services to multinational companies, governmental and wholesale customers, and individual subscribers.

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