Investors Buy AT&T Inc. (T) on Weakness
Traders purchased shares of AT&T Inc. (NYSE:T) on weakness during trading on Tuesday. $143.75 million flowed into the stock on the tick-up and $79.75 million flowed out of the stock on the tick-down, for a money net flow of $64.00 million into the stock. Of all equities tracked, AT&T had the 2nd highest net in-flow for the day. AT&T traded down ($0.08) for the day and closed at $42.77
T has been the topic of several recent analyst reports. Vetr cut AT&T from a “hold” rating to a “sell” rating and set a $38.71 target price on the stock. in a research note on Tuesday, June 21st. Wells Fargo & Co. reissued a “buy” rating and issued a $42.00 target price (up from $40.00) on shares of AT&T in a research note on Tuesday, March 29th. Citigroup Inc. cut AT&T from a “buy” rating to a “neutral” rating and raised their target price for the stock from $42.00 to $46.00 in a research note on Thursday, July 7th. They noted that the move was a valuation call. Jefferies Group reissued a “buy” rating on shares of AT&T in a research note on Sunday, June 5th. Finally, Hanson cut AT&T from a “neutral” rating to a “sell” rating and set a $35.00 target price on the stock. in a research note on Friday, April 1st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $40.47.
The stock has a market capitalization of $263.29 billion and a P/E ratio of 18.12. The firm has a 50-day moving average of $41.35 and a 200 day moving average of $38.48.
AT&T (NYSE:T) last posted its earnings results on Tuesday, April 26th. The company reported $0.72 EPS for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.03. The firm had revenue of $40.50 billion for the quarter, compared to analysts’ expectations of $41.10 billion. The company’s revenue was up 24.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.63 EPS. On average, analysts expect that AT&T Inc. will post $2.86 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 1st. Investors of record on Friday, July 8th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Wednesday, July 6th. This represents a $1.92 dividend on an annualized basis and a yield of 4.49%.
Other hedge funds and institutional investors recently bought and sold shares of the company. Linscomb & Williams Inc. boosted its position in AT&T by 2.7% in the fourth quarter. Linscomb & Williams Inc. now owns 108,984 shares of the company’s stock worth $3,750,000 after buying an additional 2,826 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in AT&T by 12.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,106,507 shares of the company’s stock worth $38,075,000 after buying an additional 119,861 shares in the last quarter. WealthTrust Fairport LLC boosted its position in AT&T by 50.1% in the fourth quarter. WealthTrust Fairport LLC now owns 93,012 shares of the company’s stock worth $3,201,000 after buying an additional 31,026 shares in the last quarter. Cullen Frost Bankers Inc. boosted its position in AT&T by 7.1% in the fourth quarter. Cullen Frost Bankers Inc. now owns 901,588 shares of the company’s stock worth $31,024,000 after buying an additional 59,722 shares in the last quarter. Finally, Norris Perne & French LLP MI boosted its position in AT&T by 0.4% in the fourth quarter. Norris Perne & French LLP MI now owns 40,553 shares of the company’s stock worth $1,395,000 after buying an additional 150 shares in 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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