Fintel reports that on August 29, 2023, Citigroup upgraded their outlook for AT&T (NYSE:T) from Neutral to Buy.

Analyst Price Forecast Suggests 35.63% Upside

As of August 2, 2023, the average one-year price target for AT&T is 19.27. The forecasts range from a low of 8.08 to a high of $26.25. The average price target represents an increase of 35.63% from its latest reported closing price of 14.21.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for AT&T is 125,417MM, an increase of 3.27%. The projected annual non-GAAP EPS is 2.62.

What is the Fund Sentiment?

There are 3253 funds or institutions reporting positions in AT&T. This is a decrease of 92 owner(s) or 2.75% in the last quarter. Average portfolio weight of all funds dedicated to T is 0.37%, a decrease of 17.08%. Total shares owned by institutions decreased in the last three months by 2.16% to 3,998,789K shares. The put/call ratio of T is 0.43, indicating a bullish outlook.

What are Other Shareholders Doing?

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 223,288K shares representing 3.12% ownership of the company. In it’s prior filing, the firm reported owning 220,828K shares, representing an increase of 1.10%. The firm decreased its portfolio allocation in T by 22.70% over the last quarter.

Newport Trust holds 199,325K shares representing 2.79% ownership of the company. In it’s prior filing, the firm reported owning 196,654K shares, representing an increase of 1.34%. The firm increased its portfolio allocation in T by 7.28% over the last quarter.

VFINX – Vanguard 500 Index Fund Investor Shares holds 170,214K shares representing 2.38% ownership of the company. In it’s prior filing, the firm reported owning 166,325K shares, representing an increase of 2.28%. The firm decreased its portfolio allocation in T by 23.20% over the last quarter.

Geode Capital Management holds 138,173K shares representing 1.93% ownership of the company. In it’s prior filing, the firm reported owning 134,387K shares, representing an increase of 2.74%. The firm decreased its portfolio allocation in T by 22.94% over the last quarter.

Spdr S&p 500 Etf Trust holds 80,990K shares representing 1.13% ownership of the company. In it’s prior filing, the firm reported owning 77,763K shares, representing an increase of 3.98%. The firm decreased its portfolio allocation in T by 23.48% over the last quarter.

AT&T Background Information
(This description is provided by the company.)

AT&T Inc. is a diversified, global leader in telecommunications, media and entertainment, and technology. AT&T Communications provides more than 100 million U.S. consumers with entertainment and communications experiences across TV, mobile and broadband. Plus, it serves high-speed, highly secure connectivity and smart solutions to nearly 3 million business customers. WarnerMedia is a leading media and entertainment company that creates and distributes premium and popular content to global audiences through its consumer brands, including: HBO, HBO Max, Warner Bros., TNT, TBS, truTV, CNN, DC Entertainment, New Line, Cartoon Network, Adult Swim and Turner Classic Movies. Xandr, now part of WarnerMedia, provides marketers with innovative and relevant advertising solutions for consumers around premium video content and digital advertising through its platform. AT&T Latin America provides pay-TV services across 10 countries and territories in Latin America and the Caribbean and wireless services to consumers and businesses in Mexico. AT&T products and services are provided or offered by subsidiaries and affiliates of AT&T Inc. under the AT&T brand and not by AT&T Inc. Additional information is available at about.att.com. © 2020 AT&T Intellectual Property. All rights reserved. AT&T, the Globe logo and other marks are trademarks and service marks of AT&T Intellectual Property and/or AT&T affiliated companies. All other marks contained herein are the property of their respective owners.

This article originally appeared on Fintel

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