Investors Buy AT&T Inc. (T) on Weakness
Investors purchased shares of AT&T Inc. (NYSE:T) on weakness during trading on Monday. $189.56 million flowed into the stock on the tick-up and $123.15 million flowed out of the stock on the tick-down, for a money net flow of $66.41 million into the stock. Of all equities tracked, AT&T had the 3rd highest net in-flow for the day. AT&T traded down ($0.11) for the day and closed at $43.18
T has been the topic of several analyst reports. Vetr lowered shares of AT&T from a “hold” rating to a “sell” rating and set a $38.01 price target on the stock. in a research report on Monday, April 4th. Macquarie began coverage on shares of AT&T in a research report on Tuesday, April 5th. They set an “outperform” rating and a $45.00 price target on the stock. Jefferies Group lifted their target price on shares of AT&T from $40.00 to $44.00 and gave the company a “buy” rating in a research report on Thursday, April 7th. Barclays PLC lifted their target price on shares of AT&T from $40.00 to $42.00 and gave the company an “overweight” rating in a research report on Monday, April 18th. Finally, Nomura lifted their target price on shares of AT&T from $39.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday, April 19th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seventeen have given a buy rating to the stock. AT&T currently has a consensus rating of “Buy” and an average price target of $41.12.
The company has a market capitalization of $265.64 billion and a price-to-earnings ratio of 18.60. The stock’s 50-day moving average is $42.21 and its 200 day moving average is $39.06.
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 the Thomson Reuters’ consensus estimate of $0.72. The company earned $40.50 billion during the quarter, compared to analyst estimates of $40.75 billion. On average, equities analysts expect that AT&T Inc. will post $2.86 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 1st. Shareholders of record on Friday, July 8th were issued a $0.48 dividend. The ex-dividend date was Wednesday, July 6th. This represents a $1.92 annualized dividend and a yield of 4.45%.
In other news, CEO John T. Stankey sold 2,131 shares of the business’s stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $43.38, for a total transaction of $92,442.78. Following the completion of the transaction, the chief executive officer now owns 13,583 shares of the company’s stock, valued at approximately $589,230.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Other large investors have recently modified their holdings of the company. Agran Libbie raised its stake in shares of AT&T by 9,875.9% in the fourth quarter. Agran Libbie now owns 11,909,863 shares of the company’s stock worth $4,098,000 after buying an additional 11,790,477 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of AT&T by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 358,813,013 shares of the company’s stock worth $12,346,756,000 after buying an additional 8,052,202 shares in the last quarter. OppenheimerFunds Inc. raised its stake in shares of AT&T by 33.8% in the fourth quarter. OppenheimerFunds Inc. now owns 5,894,413 shares of the company’s stock worth $202,903,000 after buying an additional 1,489,733 shares in the last quarter. BHF Kleinwort Benson Group S.A. raised its stake in shares of AT&T by 72.4% in the fourth quarter. BHF Kleinwort Benson Group S.A. now owns 1,639,094 shares of the company’s stock worth $56,401,000 after buying an additional 688,411 shares in the last quarter. Finally, Quantitative Investment Management LLC purchased a new stake in shares of AT&T during the fourth quarter worth $21,072,000.
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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