Investors Sell AT&T Inc. (T) on Strength (T)
Investors sold shares of AT&T Inc. (NYSE:T) on strength during trading hours on Wednesday. $110.38 million flowed into the stock on the tick-up and $173.16 million flowed out of the stock on the tick-down, for a money net flow of $62.78 million out of the stock. Of all companies tracked, AT&T had the 0th highest net out-flow for the day. AT&T traded up $0.38 for the day and closed at $42.76
A number of brokerages recently commented on T. Zacks Investment Research raised AT&T from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research note on Tuesday, July 5th. S&P Equity Research set a $46.00 price target on AT&T and gave the stock a “buy” rating in a research note on Sunday. Robert W. Baird reaffirmed a “neutral” rating and issued a $41.00 price target on shares of AT&T in a research note on Monday. Citigroup Inc. downgraded AT&T from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $42.00 to $46.00 in a report on Thursday, July 7th. They noted that the move was a valuation call. Finally, Barclays PLC reiterated a “buy” rating on shares of AT&T in a report on Sunday, July 17th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and seventeen have assigned a buy rating to the company. AT&T has an average rating of “Buy” and a consensus price target of $41.12.
The stock has a market cap of $263.06 billion and a price-to-earnings ratio of 18.42. The stock has a 50 day moving average price of $41.96 and a 200-day moving average price of $38.83.
AT&T (NYSE:T) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.72 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.72. The firm earned $40.50 billion during the quarter, compared to analyst estimates of $40.75 billion. On average, analysts expect that AT&T Inc. will post $2.86 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 1st. Stockholders of record on Friday, July 8th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.49%. The ex-dividend date of this dividend is Wednesday, July 6th.
In other news, CEO John T. Stankey sold 2,131 shares of the stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $43.38, for a total value of $92,442.78. Following the transaction, the chief executive officer now directly owns 13,583 shares of the company’s stock, valued at $589,230.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Other hedge funds recently modified their holdings of the company. JFS Wealth Advisors LLC increased its stake in shares of AT&T by 2.3% in the fourth quarter. JFS Wealth Advisors LLC now owns 29,574 shares of the company’s stock worth $1,018,000 after buying an additional 676 shares during the last quarter. Taylor Cottrill LLC increased its stake 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 increased its stake 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. increased its stake 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, Lipe & Dalton increased its stake in shares of AT&T by 3.8% in the fourth quarter. Lipe & Dalton now owns 33,960 shares of the company’s stock worth $1,169,000 after buying an additional 1,250 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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