AT&T (NYSE:T) Research Coverage Started at The Goldman Sachs Group

Research analysts at The Goldman Sachs Group assumed coverage on shares of AT&T (NYSE:T) in a research note issued on Monday, MarketBeat.com reports. The firm set a “buy” rating and a $22.00 price target on the technology company’s stock. The Goldman Sachs Group’s price target would indicate a potential upside of 16.90% from the stock’s previous close.

T has been the topic of several other reports. Barclays raised AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 target price on the stock in a research note on Monday, April 29th. Wolfe Research raised AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research note on Tuesday, March 5th. BNP Paribas raised AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 11th. UBS Group reissued a “buy” rating and set a $24.00 target price on shares of AT&T in a research note on Tuesday, June 18th. Finally, Oppenheimer reissued an “outperform” rating and set a $21.00 target price on shares of AT&T in a research note on Tuesday, June 25th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $21.73.

AT&T Price Performance

Shares of AT&T stock opened at $18.82 on Monday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.63. The business’s 50 day simple moving average is $17.63 and its two-hundred day simple moving average is $17.20. The stock has a market capitalization of $134.94 billion, a P/E ratio of 10.12, a price-to-earnings-growth ratio of 4.34 and a beta of 0.58. AT&T has a one year low of $13.43 and a one year high of $19.32.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The business had revenue of $30.03 billion for the quarter, compared to analysts’ expectations of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The business’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.60 EPS. Analysts forecast that AT&T will post 2.24 EPS for the current year.

Institutional Investors Weigh In On AT&T

Hedge funds have recently added to or reduced their stakes in the stock. Pineridge Advisors LLC purchased a new position in shares of AT&T in the fourth quarter worth $25,000. Frank Rimerman Advisors LLC purchased a new position in shares of AT&T in the fourth quarter worth $25,000. First Pacific Financial raised its stake in shares of AT&T by 166.7% in the first quarter. First Pacific Financial now owns 1,600 shares of the technology company’s stock worth $28,000 after purchasing an additional 1,000 shares during the last quarter. Ramirez Asset Management Inc. purchased a new position in shares of AT&T in the third quarter worth $30,000. Finally, HighMark Wealth Management LLC raised its stake in shares of AT&T by 58.2% in the first quarter. HighMark Wealth Management LLC now owns 2,204 shares of the technology company’s stock worth $41,000 after purchasing an additional 811 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

AT&T Company Profile

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.