Traders Buy AT&T Inc. (T) on Weakness
Traders purchased 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 companies 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 subject of a number of analyst reports. Zacks Investment Research raised AT&T from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a research note on Tuesday, July 5th. Jefferies Group reaffirmed a “buy” rating on shares of AT&T in a research note on Sunday, June 5th. Vetr downgraded AT&T from a “buy” rating to a “hold” rating and set a $41.37 price objective for the company. in a research note on Tuesday, June 7th. Bank of America Corp. reaffirmed a “buy” rating on shares of AT&T in a research note on Thursday, May 19th. Finally, Barclays PLC reaffirmed an “overweight” rating and issued a $42.00 price objective on shares of AT&T in a research note on Tuesday, June 28th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $41.34.
The firm’s 50-day moving average price is $42.76 and its 200 day moving average price is $39.74. The stock has a market cap of $252.29 billion and a PE ratio of 17.68.
AT&T (NYSE:T) last announced its earnings results on Thursday, July 21st. The company reported $0.72 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. On average, equities analysts forecast that AT&T Inc. will post $2.86 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, August 1st. Shareholders 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 annualized dividend and a dividend yield of 4.68%.
In other AT&T news, CEO John T. Stankey sold 2,131 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $589,230.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
A number of hedge funds have recently made changes to their positions in the stock. Adirondack Trust Co. increased its stake in shares of AT&T by 0.4% in the fourth quarter. Adirondack Trust Co. now owns 66,259 shares of the company’s stock valued at $2,389,000 after buying an additional 291 shares during the period. Sigma Investment Counselors Inc. increased its stake in shares of AT&T by 0.4% in the fourth quarter. Sigma Investment Counselors Inc. now owns 79,153 shares of the company’s stock valued at $2,724,000 after buying an additional 293 shares during the period. AMG National Trust Bank increased its stake 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 valued at $1,034,000 after buying an additional 382 shares during the period. Keating Investment Counselors Inc. increased its stake in shares of AT&T by 0.8% in the fourth quarter. Keating Investment Counselors Inc. now owns 50,731 shares of the company’s stock valued at $1,746,000 after buying an additional 425 shares during the period. Finally, West Chester Capital Advisors Inc. boosted its position 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 valued at $1,080,000 after buying an additional 531 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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