Traders Buy Shares of AT&T Inc. (T) on Weakness
Investors purchased shares of AT&T Inc. (NYSE:T) on weakness during trading hours on Friday. $282.84 million flowed into the stock on the tick-up and $163.53 million flowed out of the stock on the tick-down, for a money net flow of $119.31 million into the stock. Of all stocks tracked, AT&T had the 2nd highest net in-flow for the day. AT&T traded down ($0.39) for the day and closed at $41.01
A number of research firms have recently commented on T. Barclays PLC restated a “buy” rating on shares of AT&T in a research note on Sunday, July 17th. S&P Equity Research set a $46.00 target price on shares of AT&T and gave the company a “buy” rating in a report on Sunday, July 24th. Drexel Hamilton reaffirmed a “buy” rating and issued a $44.00 target price on shares of AT&T in a report on Thursday, May 12th. Jefferies Group reaffirmed a “buy” rating and issued a $44.00 target price on shares of AT&T in a report on Friday, May 13th. Finally, FBR & Co reaffirmed a “hold” rating and issued a $38.00 target price on shares of AT&T in a report on Wednesday, April 27th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and sixteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $41.34.
The stock has a market capitalization of $252.29 billion and a price-to-earnings ratio of 17.68. The firm has a 50-day moving average price of $42.76 and a 200 day moving average price of $39.74.
AT&T (NYSE:T) last posted its earnings results on Thursday, July 21st. The company reported $0.72 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.72. The firm had revenue of $40.50 billion for the quarter, compared to the consensus estimate of $40.75 billion. On average, analysts expect 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 4.68%. The ex-dividend date was Wednesday, July 6th.
In related news, CEO John T. Stankey sold 2,131 shares of the company’s stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $43.38, for a total transaction of $92,442.78. Following the sale, 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 accessible through this hyperlink.
A number of institutional investors recently added to or reduced their stakes in T. Barrett Asset Management LLC boosted its position in AT&T by 1.0% in the fourth quarter. Barrett Asset Management LLC now owns 134,634 shares of the company’s stock worth $4,633,000 after buying an additional 1,271 shares in the last quarter. Boys Arnold & Co. Inc. boosted its position in AT&T by 54.3% in the fourth quarter. Boys Arnold & Co. Inc. now owns 281,971 shares of the company’s stock worth $9,703,000 after buying an additional 99,204 shares in the last quarter. West Coast Financial LLC boosted its position in AT&T by 1.0% in the fourth quarter. West Coast Financial LLC now owns 88,446 shares of the company’s stock worth $3,043,000 after buying an additional 918 shares in the last quarter. Keating Investment Counselors Inc. boosted its position in AT&T by 0.8% in the fourth quarter. Keating Investment Counselors Inc. now owns 50,731 shares of the company’s stock worth $1,746,000 after buying an additional 425 shares in the last quarter. Finally, ProVise Management Group LLC boosted its position in AT&T by 7.5% in the fourth quarter. ProVise Management Group LLC now owns 68,700 shares of the company’s stock worth $2,364,000 after buying an additional 4,800 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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