AT&T Inc. (NYSE:T) was downgraded by investment analysts at Vetr from a "buy" rating to a "hold" rating in a note issued to investors on Monday, MarketBeat.com reports. They presently have a $42.92 price objective on the stock. Vetr's price target would suggest a potential upside of 3.97% from the stock's previous close.
Several other equities analysts also recently commented on T. Barclays PLC restated a "buy" rating on shares of AT&T in a research note on Sunday, July 17th. S&P Equity Research set a $46.00 target price on shares of AT&T and gave the stock a "buy" rating in a research note on Sunday, July 24th. FBR & Co boosted their target price on shares of AT&T from $38.00 to $42.00 and gave the stock a "market perform" rating in a research note on Friday, July 22nd. Robert W. Baird reiterated a "neutral" rating and set a $41.00 target price on shares of AT&T in a research note on Tuesday, June 28th. Finally, Argus reiterated a "buy" rating and set a $51.00 target price (up previously from $45.00) on shares of AT&T in a research note on Tuesday, July 26th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have issued a buy rating to the stock. The stock currently has a consensus rating of "Hold" and an average target price of $41.55.
AT&T (NYSE:T) opened at 41.28 on Monday, MarketBeat.com reports. AT&T has a 52 week low of $31.85 and a 52 week high of $43.89. The stock has a market cap of $253.95 billion, a price-to-earnings ratio of 17.80 and a beta of 0.28. The company has a 50-day moving average price of $41.28 and a 200-day moving average price of $40.38.
AT&T (NYSE:T) last announced its earnings results on Thursday, July 21st. The company reported $0.72 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.72. The company had revenue of $40.50 billion for 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%. Equities research analysts anticipate that AT&T will post $2.86 EPS for the current year.
In related news, CEO John T. Stankey sold 2,131 shares of the firm's stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $43.38, for a total transaction of $92,442.78. Following the sale, the chief executive officer now owns 13,583 shares in the company, valued at $589,230.54. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.07% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in T. Evercore Wealth Management LLC raised its stake in shares of AT&T by 2.7% in the second quarter. Evercore Wealth Management LLC now owns 181,675 shares of the company's stock worth $7,850,000 after buying an additional 4,827 shares during the period. Macquarie Group Ltd. raised its stake in shares of AT&T by 0.4% in the second quarter. Macquarie Group Ltd. now owns 18,473,578 shares of the company's stock worth $798,243,000 after buying an additional 78,603 shares during the period. Carnick & Kubik Group LLC purchased a new stake in shares of AT&T during the second quarter worth about $1,654,000. Williams Jones & Associates LLC raised its stake in shares of AT&T by 26.9% in the second quarter. Williams Jones & Associates LLC now owns 75,131 shares of the company's stock worth $3,246,000 after buying an additional 15,910 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of AT&T during the second quarter worth about $10,740,000. Hedge funds and other institutional investors own 53.64% of the company's stock.
About AT&T
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.