AT&T (T) Price Target Cut to $40.00 by Analysts at Wells Fargo

AT&T (NYSE:T) had its price target reduced by Wells Fargo from $48.00 to $40.00 in a research report report published on Friday morning. Wells Fargo currently has an outperform rating on the technology company’s stock.

A number of other research analysts also recently commented on the company. Vetr raised AT&T from a buy rating to a strong-buy rating and set a $39.68 price target for the company in a research note on Friday. Zacks Investment Research downgraded AT&T from a buy rating to a hold rating in a research note on Tuesday, March 13th. Guggenheim began coverage on AT&T in a research note on Tuesday, March 13th. They issued a buy rating and a $42.00 price target for the company. Argus reaffirmed a buy rating and issued a $36.83 price target (down previously from $48.00) on shares of AT&T in a research note on Wednesday, February 7th. Finally, Bank of America boosted their target price on AT&T from $39.00 to $40.00 and gave the stock a neutral rating in a research note on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. AT&T presently has an average rating of Hold and a consensus target price of $41.73.

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AT&T (T) traded down $0.67 on Friday, hitting $34.70. The stock had a trading volume of 35,022,888 shares, compared to its average volume of 21,813,906. AT&T has a 12 month low of $32.55 and a 12 month high of $41.89. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $217,136.42, a P/E ratio of 7.29, a P/E/G ratio of 2.45 and a beta of 0.39.

AT&T (NYSE:T) last posted its earnings results on Wednesday, January 31st. The technology company reported $0.78 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.13. The company had revenue of $41.68 billion during the quarter, compared to the consensus estimate of $41.21 billion. AT&T had a return on equity of 14.55% and a net margin of 18.34%. The company’s revenue was down .4% on a year-over-year basis. During the same quarter last year, the firm earned $0.66 earnings per share. sell-side analysts expect that AT&T will post 3.48 EPS for the current year.

In related news, EVP John T. Stankey sold 2,307 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $39.21, for a total value of $90,457.47. Following the sale, the executive vice president now directly owns 51,672 shares in the company, valued at $2,026,059.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard W. Fisher bought 2,600 shares of AT&T stock in a transaction that occurred on Monday, February 5th. The stock was bought at an average price of $38.10 per share, for a total transaction of $99,060.00. Following the completion of the acquisition, the director now directly owns 2,600 shares of the company’s stock, valued at $99,060. The disclosure for this purchase can be found here. Insiders own 0.09% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Amundi Pioneer Asset Management Inc. raised its position in shares of AT&T by 202.7% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 13,775,075 shares of the technology company’s stock worth $535,574,000 after purchasing an additional 9,225,075 shares during the period. Vanguard Group Inc. raised its position in shares of AT&T by 2.2% during the second quarter. Vanguard Group Inc. now owns 427,857,308 shares of the technology company’s stock worth $16,143,056,000 after purchasing an additional 9,053,649 shares during the period. Lazard Asset Management LLC raised its position in shares of AT&T by 53.3% during the fourth quarter. Lazard Asset Management LLC now owns 21,916,005 shares of the technology company’s stock worth $852,092,000 after purchasing an additional 7,619,113 shares during the period. American Century Companies Inc. raised its position in shares of AT&T by 90.2% during the fourth quarter. American Century Companies Inc. now owns 15,886,607 shares of the technology company’s stock worth $617,671,000 after purchasing an additional 7,535,393 shares during the period. Finally, Janus Henderson Group PLC raised its position in shares of AT&T by 6,188.8% during the second quarter. Janus Henderson Group PLC now owns 6,900,152 shares of the technology company’s stock worth $260,343,000 after purchasing an additional 6,790,430 shares during the period. Institutional investors and hedge funds own 55.92% of the company’s stock.

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About AT&T

AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.

Analyst Recommendations for AT&T (NYSE:T)

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