Investors Buy AT&T Inc. (T) on Weakness
Investors bought shares of AT&T Inc. (NYSE:T) on weakness during trading hours on Thursday. $207.29 million flowed into the stock on the tick-up and $169.58 million flowed out of the stock on the tick-down, for a money net flow of $37.71 million into the stock. Of all equities tracked, AT&T had the 8th highest net in-flow for the day. AT&T traded down ($0.80) for the day and closed at $42.30
T has been the topic of several research analyst reports. Morgan Stanley reissued a “hold” rating and issued a $35.00 price objective on shares of AT&T in a research report on Wednesday, April 27th. Vetr lowered shares of AT&T from a “hold” rating to a “sell” rating and set a $38.71 price objective on the stock. in a research report on Tuesday, June 21st. Citigroup Inc. lowered shares of AT&T from a “buy” rating to a “neutral” rating and increased their price objective for the company from $42.00 to $46.00 in a research report on Thursday. Cowen and Company reissued a “buy” rating and issued a $44.00 price objective (up from $41.00) on shares of AT&T in a research report on Wednesday, April 27th. Finally, Drexel Hamilton reissued a “buy” rating and issued a $44.00 price objective on shares of AT&T in a research report on Thursday, May 12th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and eighteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $40.40.
The company has a market capitalization of $260.40 billion and a P/E ratio of 17.92. The firm’s 50 day moving average is $40.47 and its 200-day moving average is $38.01.
AT&T (NYSE:T) last posted its quarterly earnings data on Tuesday, April 26th. The company reported $0.72 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.03. The company earned $40.50 billion during the quarter, compared to the consensus estimate of $41.10 billion. During the same quarter last year, the company posted $0.63 earnings per share. The firm’s revenue for the quarter was up 24.4% on a year-over-year basis. Equities research analysts expect that AT&T Inc. will post $2.86 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 1st. Investors of record on Friday, July 8th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 4.54%. The ex-dividend date is Wednesday, July 6th.
Several hedge funds and institutional investors recently bought and sold shares of T. JFS Wealth Advisors LLC boosted its position in AT&T by 2.3% in the fourth quarter. JFS Wealth Advisors LLC now owns 29,574 shares of the company’s stock valued at $1,018,000 after buying an additional 676 shares during the period. Taylor Cottrill LLC boosted its position in shares of AT&T by 1.8% in the fourth quarter. Taylor Cottrill LLC now owns 29,697 shares of the company’s stock worth $1,022,000 after buying an additional 535 shares during the last quarter. AMG National Trust Bank boosted its position in shares of AT&T by 1.3% in the fourth quarter. AMG National Trust Bank now owns 30,059 shares of the company’s stock worth $1,034,000 after buying an additional 382 shares during the last quarter. West Chester Capital Advisors Inc. boosted its position in shares of AT&T by 1.7% in the fourth quarter. West Chester Capital Advisors Inc. now owns 31,397 shares of the company’s stock worth $1,080,000 after buying an additional 531 shares during the last quarter. Finally, E&G Advisors LP boosted its position in shares of AT&T by 5.9% in the fourth quarter. E&G Advisors LP now owns 33,324 shares of the company’s stock worth $1,147,000 after buying an additional 1,850 shares during the last quarter.
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.
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