Investors Sell Shares of AT&T Inc. (T) on Strength (T)
Traders sold shares of AT&T Inc. (NYSE:T) on strength during trading hours on Thursday. $83.58 million flowed into the stock on the tick-up and $131.66 million flowed out of the stock on the tick-down, for a money net flow of $48.08 million out of the stock. Of all equities tracked, AT&T had the 0th highest net out-flow for the day. AT&T traded up $0.20 for the day and closed at $41.07
A number of research firms have weighed in on T. Barclays PLC restated a “buy” rating on shares of AT&T in a research note on Sunday, July 17th. S&P Equity Research set a $46.00 price target on AT&T and gave the company a “buy” rating in a research note on Sunday, July 24th. Drexel Hamilton reaffirmed a “buy” rating and issued a $44.00 price objective on shares of AT&T in a research report on Thursday, May 12th. Jefferies Group reaffirmed a “buy” rating and issued a $44.00 price objective on shares of AT&T in a research report on Friday, May 13th. Finally, Vetr cut AT&T from a “buy” rating to a “hold” rating and set a $41.37 price objective for the company. in a research report on Tuesday, June 7th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $41.34.
The firm has a 50 day moving average price of $42.51 and a 200 day moving average price of $39.87. The stock has a market cap of $252.66 billion and a price-to-earnings ratio of 17.71.
AT&T (NYSE:T) last posted its earnings results on Thursday, July 21st. The company reported $0.72 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.72. The company had revenue of $40.50 billion for the quarter, compared to analysts’ expectations of $40.75 billion. Equities research analysts forecast that AT&T Inc. will post $2.86 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, August 1st. Shareholders of record on Friday, July 8th were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Wednesday, July 6th. This represents a $1.92 annualized dividend and a dividend yield of 4.67%.
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 value of $92,442.78. Following the sale, the chief executive officer now owns 13,583 shares in the company, valued at $589,230.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Other large investors have modified their holdings of the company. Ameriprise Financial Inc. increased its stake in shares of AT&T by 2.0% in the fourth quarter. Ameriprise Financial Inc. now owns 25,007,416 shares of the company’s stock worth $860,396,000 after buying an additional 490,806 shares during the period. Hartford Investment Management Co. increased its stake in shares of AT&T by 1.7% in the fourth quarter. Hartford Investment Management Co. now owns 1,585,525 shares of the company’s stock worth $54,558,000 after buying an additional 26,237 shares during the period. Matarin Capital Management LLC acquired a new stake in shares of AT&T during the fourth quarter worth about $3,357,000. Opus Investment Management Inc. increased its stake in shares of AT&T by 12.8% in the fourth quarter. Opus Investment Management Inc. now owns 141,000 shares of the company’s stock worth $4,852,000 after buying an additional 16,000 shares during the period. Finally, Dorsey & Whitney Trust CO LLC increased its stake 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 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.
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