AT&T (NYSE:T) Rating Lowered to Hold at StockNews.com

AT&T (NYSE:T) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Friday.

Other equities research analysts also recently issued research reports about the stock. Barclays upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 target price for the company in a research note on Monday, April 29th. TheStreet raised AT&T from a “c” rating to a “b-” rating in a report on Wednesday, January 24th. JPMorgan Chase & Co. raised AT&T from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $18.00 to $21.00 in a report on Thursday, February 1st. Wolfe Research raised shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a research note on Tuesday, March 5th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $20.81.

AT&T Price Performance

T stock opened at $16.85 on Friday. The stock has a market cap of $120.52 billion, a price-to-earnings ratio of 9.06, a PEG ratio of 3.31 and a beta of 0.57. AT&T has a fifty-two week low of $13.43 and a fifty-two week high of $18.16. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06. The business has a 50 day moving average price of $16.97 and a 200 day moving average price of $16.64.

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

Hedge Funds Weigh In On AT&T

Several institutional investors and hedge funds have recently bought and sold shares of T. Sora Investors LLC acquired a new position in shares of AT&T in the 3rd quarter valued at about $11,265,000. Provence Wealth Management Group lifted its position in AT&T by 55.8% during the fourth quarter. Provence Wealth Management Group now owns 16,217 shares of the technology company’s stock valued at $272,000 after buying an additional 5,807 shares in the last quarter. Checchi Capital Advisers LLC grew its stake in AT&T by 3.1% during the third quarter. Checchi Capital Advisers LLC now owns 38,929 shares of the technology company’s stock worth $585,000 after buying an additional 1,178 shares during the period. Retireful LLC acquired a new stake in shares of AT&T in the fourth quarter worth $1,163,000. Finally, Brighton Jones LLC raised its stake in shares of AT&T by 12.6% in the 4th quarter. Brighton Jones LLC now owns 46,265 shares of the technology company’s stock valued at $776,000 after acquiring an additional 5,161 shares during the period. Institutional investors and hedge funds 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.