Investors Buy Shares of AT&T Inc. (T) on Weakness
Investors purchased shares of AT&T Inc. (NYSE:T) on weakness during trading hours on Friday. $130.88 million flowed into the stock on the tick-up and $61.76 million flowed out of the stock on the tick-down, for a money net flow of $69.12 million into the stock. Of all stocks tracked, AT&T had the 3rd highest net in-flow for the day. AT&T traded down ($0.11) for the day and closed at $43.28
A number of research firms have commented on T. Vetr raised shares of AT&T from a “hold” rating to a “buy” rating and set a $41.45 target price on the stock in a research report on Wednesday, April 20th. S&P Equity Research set a $46.00 price objective on shares of AT&T and gave the stock a “buy” rating in a research report on Sunday, July 24th. Wells Fargo & Co. reaffirmed a “buy” rating on shares of AT&T in a research report on Friday, July 22nd. Bank of America Corp. reaffirmed a “buy” rating on shares of AT&T in a research report on Thursday, May 19th. Finally, Barclays PLC lifted their price objective on shares of AT&T from $42.00 to $45.00 and gave the stock an “overweight” rating in a research report on Friday, July 15th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and seventeen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $41.12.
The stock has a market cap of $266.26 billion and a PE ratio of 18.66. The firm’s 50-day moving average is $42.82 and its 200 day moving average is $39.52.
AT&T (NYSE:T) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.72 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.72. The company had revenue of $40.50 billion for the quarter, compared to analyst estimates of $40.75 billion. Equities analysts expect that AT&T Inc. will post $2.86 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, August 1st. Investors of record on Friday, July 8th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 4.44%. The ex-dividend date of this dividend was Wednesday, July 6th.
In related news, CEO John T. Stankey sold 2,131 shares of the stock in a transaction 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 $589,230.54. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Other hedge funds and institutional investors have recently made changes to their positions in the company. Insight 2811 Inc. boosted its position in shares of AT&T by 12.3% in the fourth quarter. Insight 2811 Inc. now owns 51,225 shares of the company’s stock worth $1,763,000 after buying an additional 5,600 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV boosted its position in shares of AT&T by 1.2% in the fourth quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 52,735 shares of the company’s stock worth $1,815,000 after buying an additional 600 shares in the last quarter. DE Burlo Group Inc. purchased a new position in shares of AT&T during the fourth quarter worth $1,280,000. Anchor Capital Advisors LLC boosted its position in shares of AT&T by 4.3% in the fourth quarter. Anchor Capital Advisors LLC now owns 1,073,202 shares of the company’s stock worth $36,929,000 after buying an additional 44,323 shares in the last quarter. Finally, Main Street Research LLC boosted its position in shares of AT&T by 250.6% in the fourth quarter. Main Street Research LLC now owns 306,299 shares of the company’s stock worth $10,540,000 after buying an additional 218,933 shares in 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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