Sanford C. Bernstein Initiates Coverage on AT&T (NYSE:T)

Stock analysts at Sanford C. Bernstein assumed coverage on shares of AT&T (NYSE:T) in a research report issued to clients and investors on Tuesday,Briefing.com Automated Import reports. The firm set an “outperform” rating and a $28.00 price target on the technology company’s stock. Sanford C. Bernstein’s price objective would suggest a potential upside of 20.02% from the company’s previous close.

Other analysts also recently issued research reports about the stock. Oppenheimer initiated coverage on shares of AT&T in a report on Tuesday. They issued an “outperform” rating and a $28.00 target price for the company. Moffett Nathanson raised their price objective on shares of AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. New Street Research upgraded shares of AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. Evercore ISI increased their target price on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $22.00 target price on shares of AT&T in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, AT&T currently has an average rating of “Moderate Buy” and a consensus target price of $25.00.

AT&T Price Performance

T stock traded down $0.04 during trading on Tuesday, reaching $23.33. 4,512,766 shares of the company were exchanged, compared to its average volume of 35,448,996. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. AT&T has a twelve month low of $15.94 and a twelve month high of $24.03. The company has a 50-day moving average of $22.39 and a two-hundred day moving average of $20.43. The company has a market capitalization of $167.40 billion, a price-to-earnings ratio of 18.97, a P/E/G ratio of 3.63 and a beta of 0.59.

AT&T (NYSE:T) last issued its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. During the same period in the prior year, the firm earned $0.64 earnings per share. AT&T’s revenue was down .5% on a year-over-year basis. As a group, equities analysts predict that AT&T will post 2.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AT&T

Institutional investors and hedge funds have recently made changes to their positions in the business. Chesapeake Wealth Management boosted its stake in shares of AT&T by 1.9% during the 3rd quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock worth $535,000 after acquiring an additional 460 shares in the last quarter. Socha Financial Group LLC boosted its stake in shares of AT&T by 2.5% during the 3rd quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock worth $415,000 after acquiring an additional 461 shares in the last quarter. Garden State Investment Advisory Services LLC boosted its stake in shares of AT&T by 1.4% during the 3rd quarter. Garden State Investment Advisory Services LLC now owns 34,468 shares of the technology company’s stock worth $759,000 after acquiring an additional 468 shares in the last quarter. Essex Savings Bank boosted its stake in AT&T by 2.3% during the 3rd quarter. Essex Savings Bank now owns 21,636 shares of the technology company’s stock valued at $476,000 after purchasing an additional 480 shares during the period. Finally, Hayek Kallen Investment Management boosted its stake in AT&T by 0.8% during the 3rd quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company’s stock valued at $1,326,000 after purchasing an additional 500 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

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.