AT&T Inc. (T) Sees Significant Growth in Short Interest
AT&T Inc. (NYSE:T) was the target of a significant growth in short interest in September. As of September 15th, there was short interest totalling 186,733,200 shares, a growth of 5.4% from the August 31st total of 177,100,145 shares. Based on an average daily trading volume, of 29,651,130 shares, the days-to-cover ratio is currently 6.3 days. Currently, 3.0% of the shares of the stock are short sold.
Several large investors have recently bought and sold shares of T. Curbstone Financial Management Corp raised its position in AT&T by 93.6% in the 3rd quarter. Curbstone Financial Management Corp now owns 65,208 shares of the technology company’s stock valued at $2,554,000 after buying an additional 31,521 shares during the last quarter. Park National Corp OH lifted its stake in AT&T by 3.4% in the 3rd quarter. Park National Corp OH now owns 437,671 shares of the technology company’s stock valued at $17,144,000 after acquiring an additional 14,411 shares in the last quarter. Bridges Investment Management Inc. lifted its stake in AT&T by 6.4% in the 3rd quarter. Bridges Investment Management Inc. now owns 38,960 shares of the technology company’s stock valued at $1,526,000 after acquiring an additional 2,345 shares in the last quarter. Perpetual Ltd lifted its stake in AT&T by 13.2% in the 2nd quarter. Perpetual Ltd now owns 56,422 shares of the technology company’s stock valued at $2,129,000 after acquiring an additional 6,600 shares in the last quarter. Finally, MPS Loria Financial Planners LLC bought a new stake in AT&T in the 2nd quarter valued at approximately $1,461,000. Institutional investors and hedge funds own 54.99% of the company’s stock.
AT&T (T) opened at 39.48 on Wednesday. The firm has a market cap of $242.41 billion, a P/E ratio of 18.55 and a beta of 0.49. The company has a 50-day moving average price of $37.71 and a 200-day moving average price of $38.57. AT&T has a 12-month low of $35.10 and a 12-month high of $43.03.
AT&T (NYSE:T) last released its earnings results on Tuesday, July 25th. The technology company reported $0.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.05. AT&T had a return on equity of 14.53% and a net margin of 8.12%. The firm had revenue of $39.84 billion during the quarter, compared to analysts’ expectations of $39.84 billion. During the same quarter in the prior year, the company earned $0.72 EPS. The company’s revenue was down 1.6% on a year-over-year basis. On average, analysts predict that AT&T will post $2.94 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th will be issued a $0.49 dividend. The ex-dividend date of this dividend is Friday, October 6th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.96%. AT&T’s dividend payout ratio (DPR) is 92.45%.
Several brokerages have recently issued reports on T. Vetr raised shares of AT&T from a “hold” rating to a “buy” rating and set a $39.81 price objective on the stock in a research note on Wednesday, June 21st. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating on shares of AT&T in a report on Wednesday, June 28th. Wells Fargo & Company reissued an “outperform” rating on shares of AT&T in a research note on Wednesday, June 28th. Royal Bank Of Canada reissued a “hold” rating and set a $42.00 target price on shares of AT&T in a research note on Sunday, July 9th. Finally, Zacks Investment Research cut shares of AT&T from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. One analyst has rated the stock with a sell rating, nineteen have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. AT&T has a consensus rating of “Hold” and a consensus target price of $43.87.
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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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