AT&T (NYSE:T) Stock Rating Reaffirmed as “Hold” by TD Cowen

AT&T (NYSE:T)‘s stock had its “hold” rating reissued by equities research analysts at TD Cowen in a report issued on Thursday, Benzinga reports. They presently have a $33.00 price objective on the technology company’s stock. TD Cowen‘s price objective would suggest a potential upside of 59.23% from the company’s previous close.

Several other equities research analysts also recently commented on the stock. BNP Paribas Exane upgraded shares of AT&T from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $26.00 to $30.00 in a research note on Monday, September 21st. Wells Fargo & Company boosted their target price on shares of AT&T from $18.00 to $20.00 and gave the company an “underweight” rating in a research report on Thursday, July 23rd. Royal Bank Of Canada decreased their target price on shares of AT&T from $31.00 to $27.00 and set an “outperform” rating for the company in a research report on Monday, July 20th. Wolfe Research upgraded shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $29.00 target price for the company in a research report on Thursday, July 23rd. Finally, KeyCorp decreased their target price on shares of AT&T from $36.00 to $33.00 and set an “overweight” rating for the company in a research report on Thursday. Twelve research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.55.

AT&T Stock Down 1.0%

T stock traded down $0.21 during trading on Thursday, hitting $20.73. 39,335,231 shares of the company’s stock traded hands, compared to its average volume of 48,875,109. The firm has a market capitalization of $139.61 billion, a P/E ratio of 11.21, a PEG ratio of 1.04 and a beta of 0.25. The business has a fifty day simple moving average of $24.78 and a two-hundred day simple moving average of $24.20. The company has a quick ratio of 0.82, a current ratio of 0.87 and a debt-to-equity ratio of 1.22. AT&T has a 1 year low of $19.89 and a 1 year high of $29.43.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, October 21st. The technology company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.05. AT&T had a net margin of 10.19% and a return on equity of 13.41%. The company had revenue of $32.32 billion for the quarter, compared to analyst estimates of $31.69 billion. During the same period last year, the company posted $0.54 earnings per share. AT&T’s revenue was up 5.2% compared to the same quarter last year. Sell-side analysts anticipate that AT&T will post 2.39 EPS for the current year.

Institutional Investors Weigh In On AT&T

A number of large investors have recently modified their holdings of the company. AGH Wealth Advisors LLC grew its position in shares of AT&T by 9.3% in the 3rd quarter. AGH Wealth Advisors LLC now owns 19,423 shares of the technology company’s stock valued at $474,000 after buying an additional 1,651 shares during the last quarter. Miller Howard Investments Inc. NY grew its position in AT&T by 8.4% during the 3rd quarter. Miller Howard Investments Inc. NY now owns 310,394 shares of the technology company’s stock worth $7,574,000 after purchasing an additional 24,008 shares during the last quarter. Hourglass Capital LLC grew its position in AT&T by 20.4% during the 3rd quarter. Hourglass Capital LLC now owns 258,490 shares of the technology company’s stock worth $6,307,000 after purchasing an additional 43,750 shares during the last quarter. Motive Wealth Advisors purchased a new position in AT&T during the 3rd quarter worth $204,000. Finally, Leo Wealth LLC purchased a new position in AT&T during the 3rd quarter worth $1,940,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

About AT&T

AT&T Inc (NYSE: T) is a telecommunications company that provides wireless communications, broadband, and related connectivity services. Its offerings include mobile voice and data plans, internet access, fiber broadband, fixed wireless services, and business communications solutions.

The company serves consumers, businesses, government agencies, and other organizations primarily in the United States. AT&T’s business operations include wireless network services, wireline connectivity, fiber-optic internet, voice services, and networking solutions designed to connect locations, devices, and applications.

AT&T traces its history to the Bell System and has operated under its current corporate name since 2005, following the acquisition of AT&T Corp.