Investors Buy AT&T Inc. (T) on Weakness
Traders bought shares of AT&T Inc. (NYSE:T) on weakness during trading hours 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 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
A number of analysts have issued reports on T shares. Robert W. Baird reaffirmed a “neutral” rating and issued a $41.00 target price on shares of AT&T in a report on Tuesday, June 28th. Citigroup Inc. lowered AT&T from a “buy” rating to a “neutral” rating and raised their target price 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. Zacks Investment Research lowered AT&T from a “buy” rating to a “hold” rating in a report on Monday, July 25th. FBR & Co raised their target price on AT&T from $38.00 to $42.00 and gave the company a “market perform” rating in a report on Friday, July 22nd. Finally, Buckingham Research lowered AT&T from a “buy” rating to a “neutral” rating and raised their target price for the company from $30.97 to $39.56 in a report on Friday, June 24th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and fifteen have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $41.34.
The firm has a market capitalization of $251.92 billion and a PE ratio of 17.66. The stock’s 50-day moving average price is $42.24 and its 200-day moving average price is $40.03.
AT&T (NYSE:T) last issued its earnings results on Thursday, July 21st. The company reported $0.72 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.72. The business earned $40.50 billion during the quarter, compared to analyst estimates of $40.75 billion. Equities analysts predict that AT&T Inc. will post $2.86 EPS for the current year.
In other AT&T news, CEO John T. Stankey sold 2,131 shares of the firm’s stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $43.38, for a total value 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Several hedge funds and institutional investors have recently made changes to their positions in the stock. Smith Salley & Associates boosted its position in shares of AT&T by 1.3% in the fourth quarter. Smith Salley & Associates now owns 73,851 shares of the company’s stock worth $2,540,000 after buying an additional 983 shares during the last quarter. Synovus Financial Corp boosted its position 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 during the last quarter. Artemis Investment Management LLP boosted its position in shares of AT&T by 30.6% in the fourth quarter. Artemis Investment Management LLP now owns 507,400 shares of the company’s stock worth $17,455,000 after buying an additional 118,800 shares during the last quarter. Afam Capital Inc. boosted its position in shares of AT&T by 40.6% in the fourth quarter. Afam Capital Inc. now owns 53,345 shares of the company’s stock worth $1,836,000 after buying an additional 15,411 shares during the last quarter. Finally, Harris Associates L P purchased a new position in shares of AT&T during the fourth quarter worth approximately $1,488,000.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.