AT&T Inc. (T) Rating Lowered to Hold at Vetr Inc.
AT&T Inc. (NYSE:T) was downgraded by stock analysts at Vetr from a “buy” rating to a “hold” rating in a research report issued on Monday. They currently have a $42.92 price objective on the stock. Vetr‘s price target would suggest a potential upside of 3.52% from the stock’s current price.
A number of other analysts have also recently issued reports on the company. Citigroup Inc. cut AT&T from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $42.00 to $46.00 in a report on Thursday, July 7th. They noted that the move was a valuation call. Jefferies Group reiterated a “buy” rating on shares of AT&T in a report on Sunday, June 5th. Wells Fargo & Co. reiterated a “buy” rating on shares of AT&T in a report on Friday, July 22nd. Barclays PLC boosted their target price on AT&T from $42.00 to $45.00 and gave the stock an “overweight” rating in a report on Friday, July 15th. Finally, Zacks Investment Research cut AT&T from a “buy” rating to a “hold” rating in a report on Monday, July 25th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $41.43.
Shares of AT&T (NYSE:T) opened at 41.46 on Monday. AT&T has a 12-month low of $32.17 and a 12-month high of $43.89. The firm’s 50-day moving average is $41.18 and its 200-day moving average is $40.46. The firm has a market cap of $255.06 billion, a PE ratio of 17.88 and a beta of 0.28.
AT&T (NYSE:T) last posted its quarterly earnings data on Thursday, July 21st. The company reported $0.72 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.72. AT&T had a net margin of 8.76% and a return on equity of 13.93%. The company earned $40.50 billion during the quarter, compared to the consensus estimate of $40.75 billion. Equities analysts expect that AT&T will post $2.86 earnings per share for the current fiscal year.
In related news, CEO John T. Stankey sold 2,131 shares of the firm’s stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $43.38, for a total transaction of $92,442.78. Following the completion of the transaction, the chief executive officer now owns 13,583 shares of the company’s stock, valued at $589,230.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.07% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Proficio Capital Partners LLC raised its position in AT&T by 170.8% in the second quarter. Proficio Capital Partners LLC now owns 2,361 shares of the company’s stock worth $101,000 after buying an additional 1,489 shares during the period. Taylor Wealth Management Partners raised its position in AT&T by 38.1% in the second quarter. Taylor Wealth Management Partners now owns 2,539 shares of the company’s stock worth $110,000 after buying an additional 700 shares during the period. WealthTrust Arizona LLC raised its position in AT&T by 13.0% in the second quarter. WealthTrust Arizona LLC now owns 2,612 shares of the company’s stock worth $113,000 after buying an additional 300 shares during the period. Wealthcare Capital Management LLC bought a new position in AT&T during the second quarter worth $117,000. Finally, Invictus RG raised its position in AT&T by 266.4% in the first quarter. Invictus RG now owns 3,521 shares of the company’s stock worth $138,000 after buying an additional 2,560 shares during the period. 53.64% of the stock is owned by institutional investors and hedge funds.
AT&T Inc is a holding company. The Company offers communications and digital entertainment services in the United States and the world. It operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Business Solutions segment includes various categories, including wireless service, fixed strategic services, legacy voice and data services, other services and wireless equipment.
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