JPMorgan Chase & Co. Upgrades AT&T (T) to “Overweight”
AT&T (NYSE:T) was upgraded by equities research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a report released on Sunday. The firm presently has a $31.82 price target on the technology company’s stock. JPMorgan Chase & Co.’s price target points to a potential upside of 6.39% from the company’s current price.
Other equities analysts also recently issued research reports about the stock. Cowen boosted their price objective on shares of AT&T from $34.00 to $36.00 in a research note on Sunday. Moffett Nathanson raised shares of AT&T from a “sell” rating to a “neutral” rating and set a $28.00 price objective for the company in a research note on Monday, November 26th. Bank of America set a $37.00 price objective on shares of AT&T and gave the stock a “buy” rating in a research note on Monday, November 19th. Argus reissued a “buy” rating and issued a $48.00 price objective on shares of AT&T in a research note on Friday, October 26th. Finally, Robert W. Baird reduced their price objective on shares of AT&T from $38.00 to $35.00 and set an “outperform” rating for the company in a research note on Thursday, October 25th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $36.15.
AT&T stock opened at $29.91 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.91. AT&T has a fifty-two week low of $28.85 and a fifty-two week high of $39.33. The company has a market cap of $185.03 billion, a PE ratio of 9.81, a P/E/G ratio of 1.66 and a beta of 0.44.
In other news, Director Michael B. Mccallister purchased 4,000 shares of the business’s stock in a transaction on Friday, October 26th. The shares were acquired at an average cost of $29.14 per share, with a total value of $116,560.00. Following the completion of the acquisition, the director now owns 7,361 shares of the company’s stock, valued at $214,499.54. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.09% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Price Wealth Management Inc. grew its holdings in shares of AT&T by 165.1% during the second quarter. Price Wealth Management Inc. now owns 3,314 shares of the technology company’s stock valued at $106,000 after buying an additional 2,064 shares during the last quarter. Chessman Wealth Strategies RIA purchased a new stake in shares of AT&T during the third quarter valued at $114,000. Stelac Advisory Services LLC purchased a new stake in AT&T in the third quarter valued at $121,000. CKW Financial Group boosted its holdings in AT&T by 105.0% in the second quarter. CKW Financial Group now owns 4,215 shares of the technology company’s stock valued at $135,000 after purchasing an additional 2,159 shares during the last quarter. Finally, Braun Bostich & Associates Inc. purchased a new stake in AT&T in the first quarter valued at $137,000. 63.48% of the stock is currently owned by institutional investors and hedge funds.
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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