Citigroup Boosts AT&T (NYSE:T) Price Target to $32.00

AT&T (NYSE:T) had its target price increased by investment analysts at Citigroup from $28.00 to $32.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Citigroup’s price objective would indicate a potential upside of 12.34% from the company’s previous close.

T has been the subject of a number of other research reports. BNP Paribas upgraded AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price target for the company in a research note on Thursday, February 13th. JPMorgan Chase & Co. lifted their target price on AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Oppenheimer started coverage on AT&T in a research report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price target for the company. Barclays lifted their price objective on shares of AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, UBS Group increased their target price on shares of AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $27.21.

AT&T Price Performance

Shares of NYSE:T opened at $28.49 on Monday. The stock’s 50 day moving average is $25.94 and its 200-day moving average is $23.64. AT&T has a twelve month low of $15.94 and a twelve month high of $28.61. 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 capitalization of $204.47 billion, a price-to-earnings ratio of 19.12, a PEG ratio of 3.00 and a beta of 0.56.

AT&T (NYSE:T) last released its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. Sell-side analysts forecast that AT&T will post 2.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Norges Bank bought a new position in AT&T in the 4th quarter worth approximately $1,858,418,000. GQG Partners LLC lifted its position 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 worth $2,203,667,000 after acquiring an additional 26,280,866 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of AT&T by 31.8% in 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 worth $1,216,665,000 after acquiring an additional 12,881,578 shares during the period. Northern Trust Corp grew its position in shares of AT&T by 16.3% in 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 in the last quarter. Finally, Assetmark Inc. raised its stake in shares of AT&T by 4,986.1% during the 4th 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 period. Hedge funds and other institutional investors 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.