Traders Buy AT&T Inc. (T) on Weakness
Investors purchased shares of AT&T Inc. (NYSE:T) on weakness during trading hours on Wednesday. $138.00 million flowed into the stock on the tick-up and $116.90 million flowed out of the stock on the tick-down, for a money net flow of $21.10 million into the stock. Of all companies tracked, AT&T had the 8th highest net in-flow for the day. AT&T traded down ($0.06) for the day and closed at $42.71
T has been the topic of a number of recent analyst reports. Macquarie initiated coverage on shares of AT&T in a research note on Tuesday, April 5th. They set an “outperform” rating and a $45.00 price target on the stock. Barclays PLC upped their target price on shares of AT&T from $40.00 to $42.00 and gave the stock an “overweight” rating in a research report on Monday, April 18th. Hanson lowered shares of AT&T from a “neutral” rating to a “sell” rating and set a $35.00 target price on the stock. in a research report on Friday, April 1st. Royal Bank Of Canada upped their target price on shares of AT&T from $37.00 to $41.00 in a research report on Wednesday, March 30th. Finally, Jefferies Group upped their target price on shares of AT&T from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Thursday, April 7th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $40.47.
The firm’s 50 day moving average price is $41.46 and its 200-day moving average price is $38.51. The stock has a market capitalization of $262.92 billion and a price-to-earnings ratio of 18.10.
AT&T (NYSE:T) last announced its earnings results on Tuesday, April 26th. The company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.69 by $0.03. The firm earned $40.50 billion during the quarter, compared to analyst estimates of $41.10 billion. The business’s quarterly revenue was up 24.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.63 earnings per share. On average, equities research analysts anticipate that AT&T Inc. will post $2.86 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 1st. Shareholders of record on Friday, July 8th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 4.50%. The ex-dividend date is Wednesday, July 6th.
Several hedge funds recently bought and sold shares of T. JFS Wealth Advisors LLC boosted its stake 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 in the last quarter. Taylor Cottrill LLC boosted its stake in AT&T by 1.8% in the fourth quarter. Taylor Cottrill LLC now owns 29,697 shares of the company’s stock valued at $1,022,000 after buying an additional 535 shares in the last quarter. AMG National Trust Bank boosted its stake in AT&T by 1.3% in the fourth quarter. AMG National Trust Bank now owns 30,059 shares of the company’s stock valued at $1,034,000 after buying an additional 382 shares in the last quarter. West Chester Capital Advisors Inc. boosted its stake in AT&T by 1.7% in the fourth quarter. West Chester Capital Advisors Inc. now owns 31,397 shares of the company’s stock valued at $1,080,000 after buying an additional 531 shares in the last quarter. Finally, Lipe & Dalton boosted its stake in AT&T by 3.8% in the fourth quarter. Lipe & Dalton now owns 33,960 shares of the company’s stock valued at $1,169,000 after buying an additional 1,250 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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