Bank of America restated their buy rating on shares of AT&T (NYSE:T) in a report issued on Monday morning, TipRanks reports.

T has been the topic of several other reports. ValuEngine lowered shares of AT&T from a hold rating to a sell rating in a report on Thursday, August 1st. Barclays lifted their price objective on AT&T from $31.00 to $35.00 and gave the company an equal weight rating in a research note on Tuesday. They noted that the move was a valuation call. Cowen set a $40.00 price objective on AT&T and gave the company a buy rating in a report on Friday, September 6th. Raymond James boosted their price objective on AT&T from $34.00 to $35.00 and gave the company an outperform rating in a report on Thursday, July 25th. Finally, JPMorgan Chase & Co. set a $39.00 target price on AT&T and gave the stock a buy rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the stock. AT&T presently has an average rating of Buy and an average price target of $37.85.

AT&T stock traded up $1.16 during mid-day trading on Monday, reaching $38.74. 54,114,068 shares of the company traded hands, compared to its average volume of 30,604,633. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.71. AT&T has a fifty-two week low of $26.80 and a fifty-two week high of $38.75. The company has a market capitalization of $268.82 billion, a price-to-earnings ratio of 11.01, a price-to-earnings-growth ratio of 2.33 and a beta of 0.62. The firm’s fifty day moving average is $34.91 and its two-hundred day moving average is $32.57.

AT&T (NYSE:T) last issued its earnings results on Wednesday, July 24th. The technology company reported $0.89 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.89. AT&T had a return on equity of 13.38% and a net margin of 9.47%. The company had revenue of $44.96 billion during the quarter, compared to analyst estimates of $44.97 billion. During the same quarter last year, the business posted $0.91 EPS. The firm’s quarterly revenue was up 15.3% on a year-over-year basis. As a group, equities research analysts predict that AT&T will post 3.57 earnings per share for the current year.

In other news, CEO John T. Stankey sold 4,024 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The shares were 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.07% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nuveen Asset Management LLC boosted its holdings in AT&T by 1,723.1% in the 2nd quarter. Nuveen Asset Management LLC now owns 46,051,038 shares of the technology company’s stock valued at $1,543,169,000 after purchasing an additional 43,525,113 shares during the last quarter. Vanguard Group Inc. raised its position in shares of AT&T by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 563,398,685 shares of the technology company’s stock valued at $18,879,489,000 after buying an additional 6,744,699 shares during the period. Morgan Stanley lifted its holdings in AT&T by 11.2% in the second quarter. Morgan Stanley now owns 59,058,549 shares of the technology company’s stock valued at $1,979,052,000 after acquiring an additional 5,931,167 shares during the last quarter. Nordea Investment Management AB lifted its holdings in AT&T by 16.9% in the fourth quarter. Nordea Investment Management AB now owns 21,383,855 shares of the technology company’s stock valued at $610,299,000 after acquiring an additional 3,097,958 shares during the last quarter. Finally, Covenant Multifamily Offices LLC purchased a new position in AT&T in the second quarter worth approximately $81,364,000. 53.14% of the stock is currently owned by institutional investors.

About AT&T

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.

Recommended Story: What is a bull market?

Analyst Recommendations for AT&T (NYSE:T)

Receive News & Ratings for AT&T Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AT&T and related companies with MarketBeat.com's FREE daily email newsletter.