Investors Buy Shares of AT&T Inc. (T) on Weakness
Traders bought shares of AT&T Inc. (NYSE:T) on weakness during trading hours on Thursday. $242.58 million flowed into the stock on the tick-up and $190.55 million flowed out of the stock on the tick-down, for a money net flow of $52.03 million into the stock. Of all stocks tracked, AT&T had the 5th highest net in-flow for the day. AT&T traded down ($0.46) for the day and closed at $41.40
T has been the topic of several recent analyst reports. Morgan Stanley reaffirmed a “hold” rating and set a $35.00 price target on shares of AT&T in a research report on Wednesday, April 27th. Vetr lowered AT&T from a “hold” rating to a “sell” rating and set a $38.71 price target on the stock. in a research report on Tuesday, June 21st. Barclays PLC reaffirmed 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 target on AT&T and gave the stock a “buy” rating in a research report on Sunday, July 24th. Finally, Drexel Hamilton reaffirmed a “buy” rating and set a $44.00 price target on shares of AT&T in a research report on Thursday, May 12th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and sixteen have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $41.34.
The company has a 50 day moving average of $42.83 and a 200-day moving average of $39.71. The firm has a market capitalization of $254.69 billion and a price-to-earnings ratio of 17.85.
AT&T (NYSE:T) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.72 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.72. The firm had revenue of $40.50 billion for the quarter, compared to the consensus estimate of $40.75 billion. Equities analysts forecast that AT&T Inc. will post $2.86 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, August 1st. Stockholders of record on Friday, July 8th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.64%. The ex-dividend date of this dividend was Wednesday, July 6th.
In other news, CEO John T. Stankey sold 2,131 shares of the business’s stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $43.38, for a total value of $92,442.78. Following the completion of the sale, the chief executive officer now owns 13,583 shares of the company’s stock, valued at approximately $589,230.54. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
A number of hedge funds and institutional investors have made changes to their positions in T. Taylor Cottrill LLC increased its position in shares of 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 in the last quarter. AMG National Trust Bank increased its position in shares of 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 in the last quarter. West Chester Capital Advisors Inc. increased its position in shares of 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 in the last quarter. Dorsey & Whitney Trust CO LLC increased its position in shares of AT&T by 8.2% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 35,086 shares of the company’s stock worth $1,207,000 after buying an additional 2,658 shares in the last quarter. Finally, Arvest Trust Co increased its position in shares of AT&T by 10.1% in the fourth quarter. Arvest Trust Co now owns 36,114 shares of the company’s stock worth $1,243,000 after buying an additional 3,313 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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