Investors Sell AT&T Inc. (T) on Strength (T)
Investors sold shares of AT&T Inc. (NYSE:T) on strength during trading on Wednesday. $95.36 million flowed into the stock on the tick-up and $136.12 million flowed out of the stock on the tick-down, for a money net flow of $40.76 million out of the stock. Of all companies tracked, AT&T had the 11th highest net out-flow for the day. AT&T traded up $0.02 for the day and closed at $40.87
Several equities research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a research note on Tuesday, July 5th. Jefferies Group reiterated a “buy” rating on shares of AT&T in a research note on Wednesday, August 3rd. Robert W. Baird reiterated a “neutral” rating and set a $41.00 price objective on shares of AT&T in a research note on Monday, July 25th. S&P Equity Research set a $46.00 price objective on shares of AT&T and gave the stock a “buy” rating in a research note on Sunday, July 24th. Finally, Citigroup Inc. downgraded shares of AT&T from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $42.00 to $46.00 in a research note on Thursday, July 7th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $41.34.
The stock has a market cap of $251.43 billion and a P/E ratio of 17.62. The firm’s 50-day moving average is $42.57 and its 200-day moving average is $39.86.
AT&T (NYSE:T) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.72 EPS for the quarter, hitting analysts’ consensus estimates of $0.72. The firm had revenue of $40.50 billion for the quarter, compared to analysts’ expectations of $40.75 billion. Equities research analysts predict that AT&T Inc. will post $2.86 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, August 1st. Stockholders of record on Friday, July 8th were issued a dividend of $0.48 per share. The ex-dividend date was Wednesday, July 6th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.70%.
In other news, CEO John T. Stankey sold 2,131 shares of AT&T stock in a transaction dated Friday, July 22nd. The shares were 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 $589,230.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
Several large investors recently added to or reduced their stakes in T. 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 position 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 period. West Chester Capital Advisors Inc. boosted its position 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 period. Dorsey & Whitney Trust CO LLC boosted its position in shares of AT&T by 8.2% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 35,086 shares of the company’s stock worth $1,207,000 after buying an additional 2,658 shares during the period. Finally, Arvest Trust Co boosted its position in shares of AT&T by 10.1% in the fourth quarter. Arvest Trust Co now owns 36,114 shares of the company’s stock worth $1,243,000 after buying an additional 3,313 shares during the period.
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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