Traders Buy AT&T Inc. (T) on Weakness
Investors bought shares of AT&T Inc. (NYSE:T) on weakness during trading on Monday. $130.88 million flowed into the stock on the tick-up and $61.76 million flowed out of the stock on the tick-down, for a money net flow of $69.12 million into the stock. Of all stocks 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 $43.28
T has been the topic of a number of recent analyst reports. Barclays PLC increased their price target on shares of AT&T from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Monday, April 18th. Nomura increased their price objective on shares of AT&T from $39.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, April 19th. Morgan Stanley reaffirmed a “hold” rating and set a $35.00 price objective on shares of AT&T in a report on Tuesday, April 19th. Zacks Investment Research raised shares of AT&T from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a report on Wednesday, April 20th. Finally, Vetr raised shares of AT&T from a “hold” rating to a “buy” rating and set a $41.45 price objective on the stock in a report on Wednesday, April 20th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $41.34.
The stock has a 50-day moving average price of $42.87 and a 200 day moving average price of $39.64. The stock has a market capitalization of $263.55 billion and a P/E ratio of 18.47.
AT&T (NYSE:T) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.72 EPS for the quarter, meeting analysts’ consensus estimates of $0.72. The business had revenue of $40.50 billion for the quarter, compared to analyst estimates of $40.75 billion. Analysts forecast that AT&T Inc. will post $2.86 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, August 1st. Investors of record on Friday, July 8th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 4.46%. The ex-dividend date was Wednesday, July 6th.
In other AT&T news, CEO John T. Stankey sold 2,131 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 13,583 shares in the company, valued at approximately $589,230.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Other large investors have recently bought and sold shares of the company. Agran Libbie increased its stake in 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 during the period. Vanguard Group Inc. increased its position 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 during the last quarter. OppenheimerFunds Inc. increased its position 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 during the last quarter. Quantitative Investment Management LLC bought a new position in shares of AT&T during the fourth quarter worth $21,072,000. Finally, Thornburg Investment Management Inc. increased its position in shares of AT&T by 4.2% in the fourth quarter. Thornburg Investment Management Inc. now owns 11,761,123 shares of the company’s stock worth $404,700,000 after buying an additional 478,000 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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