Investors Buy AT&T Inc. (T) on Weakness
Traders purchased shares of AT&T Inc. (NYSE:T) on weakness during trading on Thursday. $207.29 million flowed into the stock on the tick-up and $169.58 million flowed out of the stock on the tick-down, for a money net flow of $37.71 million into the stock. Of all companies tracked, AT&T had the 8th highest net in-flow for the day. AT&T traded down ($0.80) for the day and closed at $42.30
Several research analysts recently weighed in on T shares. Royal Bank Of Canada upped their target price on shares of AT&T from $37.00 to $41.00 in a report on Wednesday, March 30th. Wells Fargo & Co. reaffirmed a “buy” rating and issued a $42.00 target price (up previously from $40.00) on shares of AT&T in a report on Tuesday, March 29th. Deutsche Bank AG upped their target price on shares of AT&T from $40.00 to $41.00 and gave the stock a “buy” rating in a report on Tuesday, March 22nd. Citigroup Inc. upped their target price on shares of AT&T from $37.00 to $42.00 and gave the stock a “buy” rating in a report on Monday, March 14th. Finally, Jefferies Group upped their target price on shares of AT&T from $40.00 to $44.00 and gave the stock a “buy” rating in a report on Thursday, April 7th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and eighteen have assigned a buy rating to the stock. AT&T currently has an average rating of “Buy” and an average target price of $40.40.
The firm’s 50 day moving average is $40.60 and its 200 day moving average is $38.07. The stock has a market capitalization of $262.31 billion and a P/E ratio of 18.06.
AT&T (NYSE:T) last posted its earnings results on Tuesday, April 26th. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.03. The firm earned $40.50 billion during the quarter, compared to analyst estimates of $41.10 billion. During the same quarter in the previous year, the firm earned $0.63 earnings per share. The business’s revenue for the quarter was up 24.4% compared to the same quarter last year. Analysts anticipate that AT&T Inc. will post $2.86 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 1st. Shareholders of record on Friday, July 8th will be issued a $0.48 dividend. The ex-dividend date is Wednesday, July 6th. This represents a $1.92 annualized dividend and a yield of 4.51%.
Other large investors recently added to or reduced their stakes in the company. HighPoint Advisor Group LLC increased its stake in AT&T by 276.3% in the fourth quarter. HighPoint Advisor Group LLC now owns 194,015 shares of the company’s stock worth $6,818,000 after buying an additional 142,454 shares during the period. Honeywell International Inc. increased its stake in AT&T by 6.8% in the fourth quarter. Honeywell International Inc. now owns 1,584,300 shares of the company’s stock worth $54,516,000 after buying an additional 100,300 shares during the period. Cape Cod Five Cents Savings Bank increased its stake in AT&T by 5.6% in the fourth quarter. Cape Cod Five Cents Savings Bank now owns 144,008 shares of the company’s stock worth $4,955,000 after buying an additional 7,591 shares during the period. BB&T Corp increased its stake in AT&T by 0.6% in the fourth quarter. BB&T Corp now owns 1,061,016 shares of the company’s stock worth $36,509,000 after buying an additional 6,262 shares during the period. Finally, Strategic Advisors LLC increased its stake in AT&T by 1.1% in the fourth quarter. Strategic Advisors LLC now owns 59,380 shares of the company’s stock worth $2,043,000 after buying an additional 623 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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