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

AT&T (NYSE:T) had its price objective hoisted by Royal Bank of Canada from $27.00 to $28.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s target price points to a potential upside of 5.12% from the company’s previous close.

T has been the topic of a number of other reports. JPMorgan Chase & Co. boosted their target price on AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Tigress Financial boosted their target price on AT&T from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Sanford C. Bernstein boosted their target price on AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. The Goldman Sachs Group boosted their target price on AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Finally, Citigroup boosted their price target on AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $26.79.

AT&T Stock Up 0.1 %

Shares of NYSE:T traded up $0.03 during trading on Wednesday, hitting $26.64. 2,965,636 shares of the company were exchanged, compared to its average volume of 33,952,389. The stock has a market cap of $191.19 billion, a price-to-earnings ratio of 17.87, a P/E/G ratio of 3.00 and a beta of 0.56. AT&T has a fifty-two week low of $15.94 and a fifty-two week high of $27.97. The firm has a fifty day moving average price of $24.84 and a two-hundred day moving average price of $23.18. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00.

AT&T (NYSE:T) last posted its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping 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%. As a group, research analysts anticipate that AT&T will post 2.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AT&T

A number of hedge funds have recently added to or reduced their stakes in T. Aviance Capital Partners LLC grew its stake in AT&T by 2.1% in the third quarter. Aviance Capital Partners LLC now owns 24,389 shares of the technology company’s stock valued at $537,000 after acquiring an additional 501 shares during the period. Prospera Financial Services Inc grew its stake in AT&T by 25.4% in the third quarter. Prospera Financial Services Inc now owns 281,643 shares of the technology company’s stock valued at $6,197,000 after acquiring an additional 57,047 shares during the period. Banque Cantonale Vaudoise grew its stake in AT&T by 4.5% in the third quarter. Banque Cantonale Vaudoise now owns 195,222 shares of the technology company’s stock valued at $4,295,000 after acquiring an additional 8,386 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of AT&T during the third quarter valued at approximately $8,611,000. Finally, Kraft Davis & Associates LLC purchased a new position in shares of AT&T during the third quarter valued at approximately $211,000. 57.10% of the stock is currently owned by institutional investors.

AT&T Company Profile

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.