Investors Sell AT&T (T) on Strength (T)
Investors sold shares of AT&T Inc. (NYSE:T) on strength during trading on Tuesday. $174.30 million flowed into the stock on the tick-up and $226.04 million flowed out of the stock on the tick-down, for a money net flow of $51.74 million out of the stock. Of all companies tracked, AT&T had the 28th highest net out-flow for the day. AT&T traded up $0.02 for the day and closed at $32.10
A number of research analysts have weighed in on T shares. Raymond James raised shares of AT&T from a “market perform” rating to an “outperform” rating and set a $34.00 price target on the stock in a research report on Friday, March 15th. They noted that the move was a valuation call. Cowen reaffirmed a “buy” rating and set a $35.00 price target on shares of AT&T in a research report on Thursday, January 31st. ValuEngine cut shares of AT&T from a “sell” rating to a “strong sell” rating in a research report on Tuesday, March 5th. Desjardins reaffirmed an “average” rating and set a $56.50 price target on shares of AT&T in a research report on Friday, April 5th. Finally, Barclays set a $32.00 price target on shares of AT&T and gave the company a “hold” rating in a research report on Friday, January 18th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the stock. AT&T currently has an average rating of “Hold” and a consensus target price of $36.26.
The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $196.60 billion, a P/E ratio of 9.12, a price-to-earnings-growth ratio of 1.35 and a beta of 0.59.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 6.36%. AT&T’s payout ratio is currently 57.95%.
In other news, CEO John T. Stankey sold 3,748 shares of the business’s stock in a transaction on Thursday, January 31st. The shares were sold at an average price of $29.84, for a total transaction of $111,840.32. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.07% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Garner Asset Management Corp increased its stake in AT&T by 3.9% during the first quarter. Garner Asset Management Corp now owns 130,477 shares of the technology company’s stock valued at $4,092,000 after purchasing an additional 4,906 shares during the last quarter. Winthrop Advisory Group LLC bought a new stake in AT&T during the first quarter valued at $250,000. Creative Financial Designs Inc. ADV increased its stake in AT&T by 109.9% during the first quarter. Creative Financial Designs Inc. ADV now owns 5,658 shares of the technology company’s stock valued at $177,000 after purchasing an additional 2,962 shares during the last quarter. Sage Capital Advisors llc increased its stake in AT&T by 5.5% during the first quarter. Sage Capital Advisors llc now owns 152,466 shares of the technology company’s stock valued at $4,781,000 after purchasing an additional 7,970 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV bought a new stake in AT&T during the first quarter valued at $18,731,000. 64.59% of the stock is currently owned by institutional investors and hedge funds.
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About AT&T (NYSE:T)
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.
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