JPMorgan Chase & Co. upgraded shares of AT&T (NYSE:T) from a neutral rating to an overweight rating in a research report released on Monday morning, MarketBeat Ratings reports. They currently have $38.00 price target on the technology company’s stock.

Several other research analysts also recently commented on T. Argus reissued a buy rating and issued a $48.00 target price on shares of AT&T in a report on Friday, October 26th. Macquarie reissued a buy rating and issued a $35.00 target price on shares of AT&T in a report on Wednesday, September 12th. Zacks Investment Research downgraded AT&T from a strong-buy rating to a hold rating in a report on Tuesday, September 25th. Bank of America set a $37.00 target price on AT&T and gave the stock a buy rating in a report on Monday, November 19th. Finally, Wells Fargo & Co downgraded AT&T from an outperform rating to a market perform rating and set a $40.00 target price on the stock. in a report on Wednesday, August 22nd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. AT&T has an average rating of Hold and an average price target of $36.42.

NYSE T opened at $30.53 on Monday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market cap of $188.65 billion, a price-to-earnings ratio of 10.01, a P/E/G ratio of 1.69 and a beta of 0.44. AT&T has a 1-year low of $28.85 and a 1-year high of $39.33.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, October 24th. The technology company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.04). The company had revenue of $45.74 billion for the quarter, compared to analyst estimates of $45.73 billion. AT&T had a net margin of 20.40% and a return on equity of 13.61%. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.74 earnings per share. On average, sell-side analysts predict that AT&T will post 3.51 EPS for the current year.

In related news, Director Michael B. Mccallister acquired 4,000 shares of the company’s stock in a transaction that occurred on Friday, October 26th. The stock was purchased at an average price of $29.14 per share, for a total transaction of $116,560.00. Following the transaction, the director now directly owns 7,361 shares of the company’s stock, valued at approximately $214,499.54. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.09% of the company’s stock.

A number of hedge funds have recently bought and sold shares of T. Bank of New York Mellon Corp raised its position in AT&T by 21.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 72,724,434 shares of the technology company’s stock worth $2,335,182,000 after purchasing an additional 12,709,982 shares during the last quarter. Dimensional Fund Advisors LP raised its position in AT&T by 17.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 82,556,205 shares of the technology company’s stock worth $2,650,940,000 after purchasing an additional 11,990,755 shares during the last quarter. Northern Trust Corp raised its position in AT&T by 13.7% in the 2nd quarter. Northern Trust Corp now owns 83,934,430 shares of the technology company’s stock worth $2,695,135,000 after purchasing an additional 10,082,798 shares during the last quarter. Charles Schwab Investment Advisory Inc. bought a new position in AT&T in the 2nd quarter worth approximately $321,448,000. Finally, Schwab Charles Investment Management Inc. raised its position in AT&T by 21.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 30,207,723 shares of the technology company’s stock worth $969,970,000 after purchasing an additional 5,257,713 shares during the last quarter. Hedge funds and other institutional investors own 63.61% of the company’s stock.

About AT&T

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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Analyst Recommendations for AT&T (NYSE:T)

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