Traders Buy Shares of AT&T Inc. (T) on Weakness
Traders bought shares of AT&T Inc. (NYSE:T) on weakness during trading hours on Tuesday. $185.83 million flowed into the stock on the tick-up and $158.81 million flowed out of the stock on the tick-down, for a money net flow of $27.02 million into the stock. Of all equities tracked, AT&T had the 29th highest net in-flow for the day. AT&T traded down ($0.45) for the day and closed at $33.72
A number of equities analysts have issued reports on the company. Vetr raised AT&T from a “buy” rating to a “strong-buy” rating and set a $42.91 target price for the company in a report on Wednesday, August 16th. Canaccord Genuity reaffirmed a “buy” rating and issued a $51.00 target price on shares of AT&T in a report on Friday, November 10th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $48.00 target price on shares of AT&T in a report on Thursday, August 24th. Cowen and Company reaffirmed a “market perform” rating and issued a $41.00 target price (down previously from $43.00) on shares of AT&T in a report on Wednesday, July 26th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of AT&T in a report on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating, eighteen have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $43.48.
The stock has a market cap of $207,680.00, a price-to-earnings ratio of 11.68, a PEG ratio of 2.76 and a beta of 0.41. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.60 and a quick ratio of 1.60.
AT&T (NYSE:T) last announced its quarterly earnings results on Tuesday, October 24th. The technology company reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.01). The firm had revenue of $39.67 billion during the quarter, compared to the consensus estimate of $40.34 billion. AT&T had a return on equity of 14.49% and a net margin of 8.00%. The firm’s revenue was down 3.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.74 EPS. equities analysts forecast that AT&T Inc. will post 2.93 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th were issued a $0.49 dividend. The ex-dividend date of this dividend was Friday, October 6th. This represents a $1.96 annualized dividend and a yield of 5.81%. AT&T’s payout ratio is currently 94.23%.
In related news, Director Matthew K. Rose acquired 29,600 shares of the stock in a transaction dated Wednesday, October 25th. The stock was purchased at an average cost of $33.75 per share, with a total value of $999,000.00. Following the completion of the purchase, the director now directly owns 3,100 shares in the company, valued at approximately $104,625. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.09% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Holderness Investments Co. increased its position in shares of AT&T by 62.9% during the first quarter. Holderness Investments Co. now owns 96,452 shares of the technology company’s stock valued at $4,008,000 after acquiring an additional 37,234 shares during the last quarter. Doyle Wealth Management increased its position in shares of AT&T by 4.3% during the second quarter. Doyle Wealth Management now owns 37,561 shares of the technology company’s stock valued at $1,417,000 after acquiring an additional 1,559 shares during the last quarter. Telos Capital Management Inc. increased its position in shares of AT&T by 4.8% during the second quarter. Telos Capital Management Inc. now owns 69,994 shares of the technology company’s stock valued at $2,641,000 after acquiring an additional 3,197 shares during the last quarter. Altfest L J & Co. Inc. increased its position in shares of AT&T by 42.1% during the second quarter. Altfest L J & Co. Inc. now owns 45,618 shares of the technology company’s stock valued at $1,721,000 after acquiring an additional 13,510 shares during the last quarter. Finally, Welch Investments LLC increased its position in shares of AT&T by 9.3% during the second quarter. Welch Investments LLC now owns 109,245 shares of the technology company’s stock valued at $4,122,000 after acquiring an additional 9,291 shares during the last quarter. 55.21% of the stock is owned by hedge funds and other institutional investors.
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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