AT&T (NYSE:T) PT Raised to $30.00 at Tigress Financial

AT&T (NYSE:T) had its price objective raised by research analysts at Tigress Financial from $29.00 to $30.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Tigress Financial’s price target would indicate a potential upside of 36.99% from the stock’s current price.

Several other brokerages have also recently issued reports on T. The Goldman Sachs Group began coverage on shares of AT&T in a report on Monday, July 1st. They set a “buy” rating and a $22.00 target price on the stock. Citigroup lifted their price objective on shares of AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Royal Bank of Canada boosted their price objective on shares of AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 25th. Evercore ISI increased their target price on AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a research report on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, AT&T presently has a consensus rating of “Hold” and an average price target of $22.38.

AT&T Trading Up 1.2 %

T opened at $21.90 on Friday. AT&T has a one year low of $14.12 and a one year high of $22.34. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. The stock has a market cap of $157.03 billion, a price-to-earnings ratio of 11.77, a P/E/G ratio of 3.68 and a beta of 0.59. The stock’s 50 day moving average price is $20.15 and its 200-day moving average price is $18.50.

AT&T (NYSE:T) last released its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.57. The business had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The business’s revenue was down .3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.63 earnings per share. On average, equities analysts forecast that AT&T will post 2.2 EPS for the current year.

Hedge Funds Weigh In On AT&T

Several hedge funds have recently made changes to their positions in the company. Frank Rimerman Advisors LLC purchased a new stake in shares of AT&T in the 4th quarter valued at $25,000. Pineridge Advisors LLC purchased a new position in shares of AT&T during the 4th quarter valued at about $25,000. Strategic Financial Concepts LLC lifted its holdings in shares of AT&T by 227.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after buying an additional 91,578 shares during the period. Riggs Asset Managment Co. Inc. boosted its stake in shares of AT&T by 356.5% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after buying an additional 1,116 shares during the last quarter. Finally, American Capital Advisory LLC grew its holdings in AT&T by 107.5% during the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after acquiring an additional 807 shares during the period. 57.10% of the stock is owned by institutional investors and hedge funds.

About AT&T

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.