HSBC Upgrades AT&T Inc. (T) to “Hold”
AT&T Inc. (NYSE:T) was upgraded by investment analysts at HSBC from a “reduce” rating to a “hold” rating in a note issued to investors on Monday. The brokerage currently has a $38.00 price objective on the stock. HSBC’s target price would indicate a potential downside of 8.35% from the company’s current price.
Several other brokerages have also recently issued reports on T. Robert W. Baird reiterated a “neutral” rating and issued a $41.00 price objective on shares of AT&T in a research note on Tuesday, June 28th. Citigroup Inc. cut AT&T from a “buy” rating to a “neutral” rating and increased their price objective for the company from $42.00 to $46.00 in a research note on Thursday, July 7th. They noted that the move was a valuation call. Zacks Investment Research cut AT&T from a “buy” rating to a “hold” rating in a research note on Monday, July 25th. FBR & Co increased their price objective on AT&T from $38.00 to $42.00 and gave the company a “market perform” rating in a research note on Friday, July 22nd. Finally, Buckingham Research cut AT&T from a “buy” rating to a “neutral” rating and increased their price objective for the company from $30.97 to $39.56 in a research note on Friday, June 24th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and fifteen have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $41.43.
AT&T (NYSE:T) opened at 41.46 on Monday. AT&T has a 52-week low of $32.17 and a 52-week high of $43.89. The stock has a 50 day moving average price of $41.18 and a 200 day moving average price of $40.46. The company has a market capitalization of $255.06 billion, a price-to-earnings ratio of 17.88 and a beta of 0.28.
AT&T (NYSE:T) last issued its quarterly earnings data on Thursday, July 21st. The company reported $0.72 earnings per share for the quarter, hitting the consensus estimate of $0.72. The company earned $40.50 billion during the quarter, compared to analyst estimates of $40.75 billion. AT&T had a return on equity of 13.93% and a net margin of 8.76%. On average, equities analysts expect that AT&T will post $2.86 earnings per share for the current year.
In other AT&T news, CEO John T. Stankey sold 2,131 shares of the business’s stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $43.38, for a total value of $92,442.78. Following the completion of the transaction, the chief executive officer now directly owns 13,583 shares in the company, valued at approximately $589,230.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.07% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of T. CENTRAL TRUST Co bought a new stake in shares of AT&T during the first quarter valued at about $18,137,000. Newman Dignan & Sheerar Inc. boosted its stake in shares of AT&T by 47.8% in the first quarter. Newman Dignan & Sheerar Inc. now owns 30,744 shares of the company’s stock valued at $1,204,000 after buying an additional 9,949 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in shares of AT&T by 14.4% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 1,402,954 shares of the company’s stock valued at $54,954,000 after buying an additional 176,631 shares in the last quarter. Exxonmobil Investment Management Inc. TX boosted its stake in shares of AT&T by 8.6% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 1,497,669 shares of the company’s stock valued at $58,664,000 after buying an additional 118,749 shares in the last quarter. Finally, Merriman Wealth Management LLC bought a new stake in shares of AT&T during the first quarter valued at about $375,000. Institutional investors own 53.64% of the company’s stock.
AT&T Company Profile
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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