ValuEngine upgraded shares of AT&T (NYSE:T) from a strong sell rating to a sell rating in a research report sent to investors on Wednesday.

A number of other equities research analysts have also issued reports on the stock. Jefferies Financial Group lowered shares of AT&T from a buy rating to a hold rating and cut their price target for the stock from $39.80 to $31.17 in a report on Thursday, June 7th. Credit Suisse Group started coverage on shares of AT&T in a report on Tuesday, July 10th. They issued an underperform rating and a $29.00 price target on the stock. Bank of America reissued a buy rating on shares of AT&T in a report on Tuesday, August 21st. Scotiabank set a $33.00 price target on shares of AT&T and gave the stock a hold rating in a report on Monday, July 23rd. Finally, UBS Group raised shares of AT&T from a market perform rating to an outperform rating in a report on Wednesday, June 13th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $38.02.

Shares of NYSE:T opened at $33.60 on Wednesday. The firm has a market capitalization of $205.17 billion, a P/E ratio of 10.19, a price-to-earnings-growth ratio of 2.65 and a beta of 0.40. AT&T has a 52 week low of $30.13 and a 52 week high of $39.80. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.81 and a current ratio of 0.81.

AT&T (NYSE:T) last issued its earnings results on Tuesday, July 24th. The technology company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The company had revenue of $38.99 billion for the quarter, compared to analysts’ expectations of $38.45 billion. AT&T had a net margin of 20.12% and a return on equity of 13.64%. The firm’s revenue was down 2.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.79 EPS. equities analysts forecast that AT&T will post 3.53 earnings per share for the current fiscal year.

In related news, Director Piazza Samuel A. Jr. Di bought 7,690 shares of the business’s stock in a transaction dated Wednesday, August 8th. The shares were purchased at an average price of $32.48 per share, with a total value of $249,771.20. Following the purchase, the director now owns 31,405 shares of the company’s stock, valued at approximately $1,020,034.40. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Matthew K. Rose purchased 65,500 shares of the stock in a transaction that occurred on Thursday, July 26th. The shares were acquired at an average cost of $30.51 per share, with a total value of $1,998,405.00. Following the completion of the transaction, the director now owns 81,319 shares in the company, valued at $2,481,042.69. The disclosure for this purchase can be found here. Insiders own 0.09% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of T. Bank of New York Mellon Corp lifted its position in AT&T by 21.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 72,724,434 shares of the technology company’s stock valued at $2,335,182,000 after acquiring an additional 12,709,982 shares during the period. Dimensional Fund Advisors LP lifted its position in AT&T by 17.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 82,556,205 shares of the technology company’s stock valued at $2,650,940,000 after acquiring an additional 11,990,755 shares during the period. BlackRock Inc. lifted its position in AT&T by 2.8% during the 1st quarter. BlackRock Inc. now owns 387,352,856 shares of the technology company’s stock valued at $13,809,130,000 after acquiring an additional 10,535,763 shares during the period. Charles Schwab Investment Advisory Inc. purchased a new position in AT&T during the 2nd quarter valued at about $321,448,000. Finally, Amundi Pioneer Asset Management Inc. lifted its position in AT&T by 202.7% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 13,775,075 shares of the technology company’s stock valued at $535,574,000 after acquiring an additional 9,225,075 shares during the period. 64.72% of the stock is owned by institutional investors.

AT&T Company Profile

AT&T Inc provides communications and digital entertainment services. The company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility, and International. The Business Solutions segment offers wireless services, strategic services, legacy voice, data services, wireless equipment, and other services to multinational companies, governmental and wholesale customers, and individual subscribers.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for AT&T (NYSE:T)

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