AT&T (NYSE:T) Given New $28.00 Price Target at Royal Bank of Canada

AT&T (NYSE:T) had its price target hoisted by equities research analysts at Royal Bank of Canada from $27.00 to $28.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 4.61% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the company. Sanford C. Bernstein boosted their price target on AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. DZ Bank upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a report on Wednesday, January 29th. Barclays upped their price objective on AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Morgan Stanley upgraded AT&T from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $19.00 to $28.00 in a research note on Monday, December 16th. Finally, The Goldman Sachs Group upped their price objective on AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and an average price target of $26.79.

AT&T Stock Performance

Shares of T opened at $26.77 on Wednesday. AT&T has a 52-week low of $15.94 and a 52-week high of $27.97. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The firm has a market cap of $192.14 billion, a price-to-earnings ratio of 17.96, a PEG ratio of 3.00 and a beta of 0.56. The business’s 50 day moving average is $25.02 and its two-hundred day moving average is $23.23.

AT&T (NYSE:T) last issued its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. Analysts forecast that AT&T will post 2.14 EPS for the current fiscal year.

Institutional Trading of AT&T

Several institutional investors have recently modified their holdings of T. Norges Bank acquired a new stake in shares of AT&T in the fourth quarter valued at $1,858,418,000. GQG Partners LLC lifted its holdings in shares of AT&T by 37.3% during the fourth quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock valued at $2,203,667,000 after purchasing an additional 26,280,866 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of AT&T by 31.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company’s stock valued at $1,216,665,000 after purchasing an additional 12,881,578 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of AT&T by 16.3% during the fourth quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company’s stock valued at $1,779,438,000 after purchasing an additional 10,945,679 shares during the last quarter. Finally, Assetmark Inc. lifted its holdings in shares of AT&T by 4,986.1% during the fourth quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company’s stock valued at $225,741,000 after purchasing an additional 9,719,036 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.