AT&T (NYSE:T – Get Free Report) was upgraded by analysts at Redburn Atlantic to a “strong sell” rating in a research report issued on Monday, Zacks.com reports.
Several other research analysts have also recently weighed in on T. TD Cowen boosted their price target on AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. lifted their price target on shares of AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Scotiabank downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft raised their target price on shares of AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Finally, Evercore ISI boosted their target price on shares of AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $22.31.
AT&T Trading Down 2.2 %
AT&T (NYSE:T – Get Free Report) last released its earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, hitting the consensus estimate of $0.57. The business had revenue of $29.80 billion for the quarter, compared to the consensus estimate of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The company’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.63 earnings per share. As a group, sell-side analysts expect that AT&T will post 2.2 EPS for the current fiscal year.
Institutional Trading of AT&T
Several hedge funds have recently modified their holdings of the company. Octavia Wealth Advisors LLC lifted its position in AT&T by 2.1% in the second quarter. Octavia Wealth Advisors LLC now owns 25,313 shares of the technology company’s stock valued at $484,000 after acquiring an additional 519 shares during the last quarter. Carolinas Wealth Consulting LLC increased its position in AT&T by 2.3% during the second quarter. Carolinas Wealth Consulting LLC now owns 23,650 shares of the technology company’s stock worth $452,000 after buying an additional 521 shares during the period. WealthCare Investment Partners LLC lifted its stake in AT&T by 2.2% in the second quarter. WealthCare Investment Partners LLC now owns 24,138 shares of the technology company’s stock valued at $461,000 after buying an additional 525 shares during the last quarter. Integral Investment Advisors Inc. lifted its stake in AT&T by 3.2% in the second quarter. Integral Investment Advisors Inc. now owns 17,177 shares of the technology company’s stock valued at $322,000 after buying an additional 538 shares during the last quarter. Finally, Financial Counselors Inc. boosted its holdings in shares of AT&T by 0.6% in the second quarter. Financial Counselors Inc. now owns 92,450 shares of the technology company’s stock valued at $1,767,000 after acquiring an additional 539 shares during the period. 57.10% of the stock is owned by hedge funds and other institutional investors.
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.
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