Traders Buy AT&T Inc. (T) on Weakness
Investors purchased shares of AT&T Inc. (NYSE:T) on weakness during trading on Thursday. $106.25 million flowed into the stock on the tick-up and $75.50 million flowed out of the stock on the tick-down, for a money net flow of $30.75 million into the stock. Of all equities tracked, AT&T had the 6th highest net in-flow for the day. AT&T traded down ($0.06) for the day and closed at $43.08
A number of brokerages have recently issued reports on T. Morgan Stanley reiterated a “hold” rating and issued a $35.00 price target on shares of AT&T in a report on Wednesday, April 27th. Vetr downgraded shares of AT&T from a “hold” rating to a “sell” rating and set a $38.71 price target for the company. in a report on Tuesday, June 21st. Barclays PLC reiterated a “buy” rating on shares of AT&T in a report on Sunday, July 17th. S&P Equity Research set a $46.00 price target on shares of AT&T and gave the company a “buy” rating in a report on Sunday, July 24th. Finally, Cowen and Company reiterated a “buy” rating and issued a $44.00 price target (up previously from $41.00) on shares of AT&T in a report on Wednesday, April 27th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seventeen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $41.12.
The firm’s 50 day moving average is $42.46 and its 200-day moving average is $39.19. The firm has a market capitalization of $265.03 billion and a PE ratio of 18.56.
AT&T (NYSE:T) last released its quarterly earnings data on Thursday, July 21st. The company reported $0.72 EPS for the quarter, hitting analysts’ consensus estimates of $0.72. The firm earned $40.50 billion during the quarter, compared to analyst estimates of $40.75 billion. Equities research analysts forecast that AT&T Inc. will post $2.86 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 1st. Investors of record on Friday, July 8th were issued a $0.48 dividend. The ex-dividend date of this dividend was Wednesday, July 6th. This represents a $1.92 dividend on an annualized basis and a yield of 4.46%.
In related news, CEO John T. Stankey sold 2,131 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 13,583 shares in the company, valued at $589,230.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Other large investors recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of AT&T by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 358,813,013 shares of the company’s stock worth $12,346,756,000 after buying an additional 8,052,202 shares during the last quarter. BlackRock Investment Management LLC boosted its stake in shares of AT&T by 1.8% in the fourth quarter. BlackRock Investment Management LLC now owns 12,437,381 shares of the company’s stock worth $427,970,000 after buying an additional 216,374 shares during the last quarter. Agran Libbie boosted its stake in shares of AT&T by 9,875.9% in the fourth quarter. Agran Libbie now owns 11,909,863 shares of the company’s stock worth $4,098,000 after buying an additional 11,790,477 shares during the last quarter. Thornburg Investment Management Inc. boosted its stake in shares of AT&T by 4.2% in the fourth quarter. Thornburg Investment Management Inc. now owns 11,761,123 shares of the company’s stock worth $404,700,000 after buying an additional 478,000 shares during the last quarter. Finally, BlackRock Advisors LLC boosted its stake in shares of AT&T by 2.9% in the fourth quarter. BlackRock Advisors LLC now owns 9,448,436 shares of the company’s stock worth $325,121,000 after buying an additional 264,205 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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