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 Thursday. $237.17 million flowed into the stock on the tick-up and $85.81 million flowed out of the stock on the tick-down, for a money net flow of $151.36 million into the stock. Of all stocks tracked, AT&T had the highest net in-flow for the day. AT&T traded down ($0.21) for the day and closed at $37.46
Several analysts recently weighed in on the stock. Macquarie reiterated a “buy” rating and issued a $43.00 price objective on shares of AT&T in a research report on Friday. Jefferies Group LLC reiterated a “buy” rating and issued a $48.00 price objective on shares of AT&T in a research report on Thursday, August 24th. Vetr upgraded shares of AT&T from a “buy” rating to a “strong-buy” rating and set a $42.91 price objective on the stock in a research report on Wednesday, August 16th. BidaskClub upgraded shares of AT&T from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Finally, Zacks Investment Research upgraded shares of AT&T from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, twenty have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. AT&T has a consensus rating of “Hold” and an average target price of $43.41.
The company has a market capitalization of $230.13 billion, a price-to-earnings ratio of 17.61 and a beta of 0.49. The company has a 50 day moving average of $37.74 and a 200-day moving average of $39.25.
AT&T (NYSE:T) last posted its earnings results on Tuesday, July 25th. The technology company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.05. AT&T had a return on equity of 14.53% and a net margin of 8.12%. The business had revenue of $39.84 billion during the quarter, compared to analysts’ expectations of $39.84 billion. During the same period in the prior year, the business earned $0.72 EPS. AT&T’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, equities analysts anticipate that AT&T Inc. will post $2.94 EPS for the current year.
A number of institutional investors have recently added to or reduced their stakes in T. Vantage Financial Partners Ltd. Inc. purchased a new position in AT&T during the second quarter worth $314,000. Ullmann Financial Group Inc. bought a new stake in AT&T during the first quarter valued at approximately $101,000. Feltz Wealth PLAN Inc. bought a new stake in AT&T during the first quarter valued at approximately $104,000. Taylor Wealth Management Partners increased its stake in AT&T by 0.4% in the first quarter. Taylor Wealth Management Partners now owns 2,550 shares of the technology company’s stock valued at $106,000 after buying an additional 11 shares during the last quarter. Finally, Almanack Investment Partners LLC. bought a new stake in AT&T during the first quarter valued at approximately $109,000. 55.00% of the stock is owned by hedge funds and other institutional investors.
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AT&T Company Profile
AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.
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