Traders Buy AT&T Inc. (T) on Weakness
Traders purchased shares of AT&T Inc. (NYSE:T) on weakness during trading on Wednesday. $254.00 million flowed into the stock on the tick-up and $72.09 million flowed out of the stock on the tick-down, for a money net flow of $181.91 million into the stock. Of all equities tracked, AT&T had the 4th highest net in-flow for the day. AT&T traded down ($0.01) for the day and closed at $40.88
T has been the topic of several recent research reports. Barclays PLC initiated coverage on AT&T in a report on Monday, June 27th. They set a “buy” rating on the stock. Jefferies Group reissued a “buy” rating on shares of AT&T in a report on Sunday, June 5th. Bank of America Corp. reissued a “buy” rating on shares of AT&T in a report on Thursday, May 19th. DA Davidson lifted their price objective on AT&T from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, May 17th. Finally, Drexel Hamilton reissued a “buy” rating and set a $44.00 price objective on shares of AT&T in a report on Thursday, May 12th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and sixteen have assigned a buy rating to the stock. AT&T has a consensus rating of “Hold” and an average price target of $41.34.
The stock has a market capitalization of $251.49 billion and a P/E ratio of 17.63. The firm has a 50 day moving average price of $42.34 and a 200-day moving average price of $40.01.
AT&T (NYSE:T) last announced 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. Analysts forecast that AT&T Inc. will post $2.86 EPS for the current year.
In related news, CEO John T. Stankey sold 2,131 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now owns 13,583 shares of the company’s stock, valued at $589,230.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Other large investors recently modified their holdings of the company. Thornburg Investment Management Inc. increased its stake 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 in the last quarter. Gulf International Bank UK Ltd increased its stake in shares of AT&T by 2.5% in the fourth quarter. Gulf International Bank UK Ltd now owns 1,822,328 shares of the company’s stock worth $62,706,000 after buying an additional 43,750 shares in the last quarter. Hartford Investment Management Co. increased its stake in shares of AT&T by 1.7% in the fourth quarter. Hartford Investment Management Co. now owns 1,585,525 shares of the company’s stock worth $54,558,000 after buying an additional 26,237 shares in the last quarter. Synovus Financial Corp increased its stake in shares of AT&T by 2.0% in the fourth quarter. Synovus Financial Corp now owns 837,746 shares of the company’s stock worth $28,814,000 after buying an additional 16,215 shares in the last quarter. Finally, Quantitative Investment Management LLC acquired 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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