Traders Buy AT&T Inc. (T) on Weakness
Traders bought shares of AT&T Inc. (NYSE:T) on weakness during trading on Friday. $169.84 million flowed into the stock on the tick-up and $94.42 million flowed out of the stock on the tick-down, for a money net flow of $75.42 million into the stock. Of all companies tracked, AT&T had the 2nd highest net in-flow for the day. AT&T traded down ($0.01) for the day and closed at $40.95
A number of research firms have recently weighed in on T. Barclays PLC restated a “buy” rating on shares of AT&T in a research report on Sunday, July 17th. S&P Equity Research set a $46.00 price objective on AT&T and gave the company a “buy” rating in a report on Sunday, July 24th. Drexel Hamilton reiterated a “buy” rating and issued a $44.00 price objective on shares of AT&T in a report on Thursday, May 12th. Jefferies Group reiterated a “buy” rating and issued a $44.00 price objective on shares of AT&T in a report on Friday, May 13th. Finally, Vetr downgraded AT&T from a “buy” rating to a “hold” rating and set a $41.37 price objective for the company. in a report on Tuesday, June 7th. Two 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 stock has a consensus rating of “Hold” and a consensus target price of $41.34.
The stock has a market cap of $251.92 billion and a P/E ratio of 17.66. The firm has a 50-day moving average price of $42.24 and a 200 day moving average price of $40.03.
AT&T (NYSE:T) last issued its earnings results on Thursday, July 21st. The company reported $0.72 EPS for the quarter, meeting analysts’ consensus estimates of $0.72. The firm earned $40.50 billion during the quarter, compared to the consensus estimate of $40.75 billion. Equities research analysts expect 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 business’s 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 completion of the sale, the chief executive officer now directly owns 13,583 shares of the company’s stock, valued at approximately $589,230.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Several institutional investors have made changes to their positions in T. Harris Associates L P acquired a new position in shares of AT&T during the fourth quarter worth $1,488,000. Alpha Cubed Investments LLC increased its position 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. Afam Capital Inc. increased 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. Smith Salley & Associates increased 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. Finally, Sigma Investment Counselors Inc. increased its position in shares of AT&T by 0.4% in the fourth quarter. Sigma Investment Counselors Inc. now owns 79,153 shares of the company’s stock worth $2,724,000 after buying an additional 293 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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