Investors Buy Shares of AT&T Inc. (T) on Weakness
Investors purchased shares of AT&T Inc. (NYSE:T) on weakness during trading on Friday. $912.22 million flowed into the stock on the tick-up and $98.87 million flowed out of the stock on the tick-down, for a money net flow of $813.35 million into the stock. Of all stocks tracked, AT&T had the 3rd highest net in-flow for the day. AT&T traded down ($0.25) for the day and closed at $40.20
Several research analysts have recently issued reports on the stock. S&P Equity Research set a $46.00 target price on shares of AT&T and gave the company a “buy” rating in a research note on Sunday, July 24th. Vetr downgraded shares of 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. Wells Fargo & Co. reiterated a “buy” rating on shares of AT&T in a research report on Friday, July 22nd. Barclays PLC increased their price target on shares of AT&T from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Friday, July 15th. Finally, Jefferies Group reiterated a “buy” rating on shares of AT&T in a research report on Wednesday, August 3rd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $41.59.
The firm has a 50 day moving average price of $41.86 and a 200-day moving average price of $40.26. The stock has a market capitalization of $247.31 billion, a P/E ratio of 17.34 and a beta of 0.28.
AT&T (NYSE:T) last issued its earnings results on Thursday, July 21st. The company reported $0.72 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.72. AT&T had a return on equity of 13.93% and a net margin of 8.76%. The company had revenue of $40.50 billion for the quarter, compared to analyst estimates of $40.75 billion. On average, analysts forecast that AT&T Inc. will post $2.86 EPS for the current fiscal year.
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 completion of the sale, the chief executive officer now directly owns 13,583 shares of the company’s stock, valued at approximately $589,230.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.07% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of AT&T by 2.6% in the second quarter. Vanguard Group Inc. now owns 384,136,905 shares of the company’s stock worth $16,598,555,000 after buying an additional 9,838,198 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in shares of AT&T by 0.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 162,390,830 shares of the company’s stock worth $6,360,849,000 after buying an additional 656,641 shares during the period. BlackRock Fund Advisors increased its position in shares of AT&T by 6.4% in the second quarter. BlackRock Fund Advisors now owns 84,651,726 shares of the company’s stock worth $3,657,801,000 after buying an additional 5,072,060 shares during the period. FMR LLC increased its position in shares of AT&T by 6.4% in the second quarter. FMR LLC now owns 80,965,668 shares of the company’s stock worth $3,498,528,000 after buying an additional 4,882,241 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of AT&T by 0.5% in the second quarter. Dimensional Fund Advisors LP now owns 52,389,851 shares of the company’s stock worth $2,263,512,000 after buying an additional 275,739 shares during the period. 53.66% of the stock is owned by institutional investors and hedge funds.
AT&T Company Profile
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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