JPMorgan Chase & Co. set a $39.00 price objective on AT&T (NYSE:T) in a research report sent to investors on Tuesday morning, TipRanks reports. The brokerage currently has a buy rating on the technology company’s stock.

Several other analysts also recently commented on T. Raymond James increased their target price on AT&T from $34.00 to $35.00 and gave the company an outperform rating in a research note on Thursday, July 25th. ValuEngine lowered AT&T from a hold rating to a sell rating in a report on Thursday, August 1st. Morgan Stanley set a $37.00 price target on AT&T and gave the stock a buy rating in a research note on Tuesday. Desjardins reaffirmed an average rating and set a $55.50 price target on shares of AT&T in a report on Tuesday, August 6th. Finally, Citigroup lifted their price objective on AT&T from $37.00 to $42.00 and gave the stock a buy rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $37.85.

Shares of NYSE T traded up $1.16 during midday trading on Tuesday, hitting $38.74. The stock had a trading volume of 54,114,068 shares, compared to its average volume of 30,604,633. The business’s 50 day moving average is $34.91 and its 200-day moving average is $32.57. AT&T has a 52 week low of $26.80 and a 52 week high of $38.75. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.81. The company has a market cap of $268.82 billion, a P/E ratio of 11.01, a PEG ratio of 2.33 and a beta of 0.62.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.89 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.89. AT&T had a net margin of 9.47% and a return on equity of 13.38%. The company had revenue of $44.96 billion during the quarter, compared to the consensus estimate of $44.97 billion. During the same quarter last year, the firm earned $0.91 earnings per share. The firm’s quarterly revenue was up 15.3% compared to the same quarter last year. As a group, analysts expect that AT&T will post 3.57 EPS for the current fiscal year.

In other AT&T news, CEO John T. Stankey sold 4,024 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $34.15, for a total value of $137,419.60. Following the transaction, the chief executive officer now directly owns 2,366 shares of the company’s stock, valued at $80,798.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.07% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Grimes & Company Inc. boosted its stake in AT&T by 0.9% in the 2nd quarter. Grimes & Company Inc. now owns 33,782 shares of the technology company’s stock worth $1,132,000 after purchasing an additional 294 shares during the period. Interactive Financial Advisors grew its stake in AT&T by 16.7% during the second quarter. Interactive Financial Advisors now owns 2,100 shares of the technology company’s stock valued at $70,000 after acquiring an additional 300 shares in the last quarter. Berkshire Money Management Inc. grew its stake in AT&T by 3.2% during the second quarter. Berkshire Money Management Inc. now owns 9,891 shares of the technology company’s stock valued at $331,000 after acquiring an additional 305 shares in the last quarter. Oxbow Advisors LLC increased its holdings in AT&T by 0.4% in the 2nd quarter. Oxbow Advisors LLC now owns 86,471 shares of the technology company’s stock valued at $2,898,000 after acquiring an additional 305 shares during the last quarter. Finally, Lenox Wealth Management Inc. increased its holdings in AT&T by 6.0% in the 2nd quarter. Lenox Wealth Management Inc. now owns 5,409 shares of the technology company’s stock valued at $181,000 after acquiring an additional 308 shares during the last quarter. Institutional investors own 53.14% of the company’s stock.

AT&T Company Profile

AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.

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Analyst Recommendations for AT&T (NYSE:T)

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