Traders Buy Shares of AT&T Inc. (T) on Weakness
Investors purchased shares of AT&T Inc. (NYSE:T) on weakness during trading hours on Thursday. $207.09 million flowed into the stock on the tick-up and $141.93 million flowed out of the stock on the tick-down, for a money net flow of $65.16 million into the stock. Of all companies tracked, AT&T had the 7th highest net in-flow for the day. AT&T traded down ($0.19) for the day and closed at $42.52
T has been the subject of several recent research reports. Vetr cut shares of AT&T from a “hold” rating to a “sell” rating and set a $38.71 price target for the company. in a research report on Tuesday, June 21st. Wells Fargo & Co. reissued a “buy” rating and issued a $42.00 price target (up previously from $40.00) on shares of AT&T in a research report on Tuesday, March 29th. Citigroup Inc. cut shares of AT&T from a “buy” rating to a “neutral” rating and raised their price target for the company from $42.00 to $46.00 in a research 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 research report on Sunday, June 5th. Finally, Hanson lowered shares of AT&T from a “neutral” rating to a “sell” rating and set a $35.00 price objective on the stock. in a report on Friday, April 1st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $40.47.
The firm has a market cap of $261.75 billion and a P/E ratio of 18.02. The stock’s 50 day moving average is $41.56 and its 200 day moving average is $38.54.
AT&T (NYSE:T) last released its quarterly earnings data 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 earned $40.50 billion during the quarter, compared to analyst estimates of $40.75 billion. On average, analysts expect that AT&T Inc. will post $2.86 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 1st. Investors of record on Friday, July 8th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Wednesday, July 6th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.52%.
Several hedge funds have recently added to or reduced their stakes in T. JFS Wealth Advisors LLC boosted its stake in AT&T by 2.3% in the fourth quarter. JFS Wealth Advisors LLC now owns 29,574 shares of the company’s stock worth $1,018,000 after buying an additional 676 shares during the period. Taylor Cottrill LLC boosted its stake in AT&T by 1.8% in the fourth quarter. Taylor Cottrill LLC now owns 29,697 shares of the company’s stock worth $1,022,000 after buying an additional 535 shares during the period. AMG National Trust Bank boosted its stake in 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 period. West Chester Capital Advisors Inc. boosted its stake in AT&T by 1.7% in the fourth quarter. West Chester Capital Advisors Inc. now owns 31,397 shares of the company’s stock worth $1,080,000 after buying an additional 531 shares during the period. Finally, Lipe & Dalton boosted its stake in AT&T by 3.8% in the fourth quarter. Lipe & Dalton now owns 33,960 shares of the company’s stock worth $1,169,000 after buying an additional 1,250 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.
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.