Traders Buy Shares of AT&T Inc. (T) on Weakness
Investors purchased shares of AT&T Inc. (NYSE:T) on weakness during trading on Thursday. $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 stocks 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
A number of research firms have issued reports on T. Vetr downgraded shares of AT&T from a “hold” rating to a “sell” rating and set a $38.71 price objective for the company. in a report on Tuesday, June 21st. Citigroup Inc. downgraded shares of AT&T from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $42.00 to $46.00 in a report on Thursday, July 7th. They noted that the move was a valuation call. Jefferies Group reissued a “buy” rating on shares of AT&T in a report on Sunday, June 5th. Wells Fargo & Co. reissued a “buy” rating on shares of AT&T in a report on Friday, July 22nd. Finally, Barclays PLC boosted their price objective on shares of AT&T from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Friday, July 15th. Two investment 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. AT&T currently has a consensus rating of “Hold” and a consensus target price of $41.34.
The stock has a 50-day moving average of $42.29 and a 200 day moving average of $40.02. The company has a market cap of $251.99 billion and a price-to-earnings ratio of 17.66.
AT&T (NYSE:T) last announced its earnings results on Thursday, July 21st. The company reported $0.72 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.72. The company had revenue of $40.50 billion for the quarter, compared to the consensus estimate of $40.75 billion. On average, equities research analysts predict that AT&T Inc. will post $2.86 EPS for the current year.
In other news, CEO John T. Stankey sold 2,131 shares of the business’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 value 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 document filed with the SEC, which is available at this hyperlink.
Other large investors have made changes to their positions in the company. AMG National Trust Bank raised its stake 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 last quarter. Arvest Trust Co raised its stake 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 last quarter. Harris Associates L P acquired a new stake in shares of AT&T during the fourth quarter worth $1,488,000. Alpha Cubed Investments LLC raised its stake in shares of AT&T by 1.5% in the fourth quarter. Alpha Cubed Investments LLC now owns 44,422 shares of the company’s stock worth $1,529,000 after buying an additional 660 shares during the last quarter. Finally, PBWM Holdings LLC raised its stake in shares of AT&T by 5.5% in the fourth quarter. PBWM Holdings LLC now owns 53,014 shares of the company’s stock worth $1,824,000 after buying an additional 2,761 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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