Traders Buy AT&T Inc. (T) on Weakness
Traders purchased shares of AT&T Inc. (NYSE:T) on weakness during trading hours on Thursday. $495.97 million flowed into the stock on the tick-up and $427.71 million flowed out of the stock on the tick-down, for a money net flow of $68.26 million into the stock. Of all equities tracked, AT&T had the 7th highest net in-flow for the day. AT&T traded down ($0.38) for the day and closed at $33.17
Several equities analysts have issued reports on T shares. Zacks Investment Research lowered AT&T from a “hold” rating to a “sell” rating in a research note on Thursday, October 26th. Barclays PLC dropped their price target on AT&T from $41.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Friday, July 14th. Vetr lowered AT&T from a “strong-buy” rating to a “buy” rating and set a $42.75 price target on the stock. in a research note on Tuesday, September 26th. Deutsche Bank AG dropped their price target on AT&T from $41.00 to $38.00 and set a “hold” rating on the stock in a research note on Wednesday, October 25th. Finally, Moffett Nathanson reissued a “neutral” rating on shares of AT&T in a research note on Monday, October 16th. One investment analyst has rated the stock with a sell rating, eighteen have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $42.87.
AT&T (NYSE:T) last posted its quarterly earnings data on Tuesday, October 24th. The technology company reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.01). The firm had revenue of $39.67 billion for the quarter, compared to analysts’ expectations of $40.34 billion. AT&T had a net margin of 8.00% and a return on equity of 14.49%. The firm’s revenue was down 3.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.74 EPS.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th were given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of Infinity. The ex-dividend date was Friday, October 6th.
In related news, Director Matthew K. Rose purchased 29,600 shares of the business’s stock in a transaction on Wednesday, October 25th. The stock was acquired at an average price of $33.75 per share, with a total value of $999,000.00. Following the completion of the acquisition, the director now owns 3,100 shares of the company’s stock, valued at approximately $104,625. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.09% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in T. Abner Herrman & Brock LLC boosted its stake in shares of AT&T by 6.8% in the first quarter. Abner Herrman & Brock LLC now owns 40,415 shares of the technology company’s stock worth $1,679,000 after acquiring an additional 2,580 shares during the period. Wagner Bowman Management Corp boosted its stake in shares of AT&T by 2.9% in the first quarter. Wagner Bowman Management Corp now owns 52,280 shares of the technology company’s stock worth $2,172,000 after acquiring an additional 1,451 shares during the period. Diversified Trust Co boosted its stake in shares of AT&T by 1.0% in the first quarter. Diversified Trust Co now owns 37,552 shares of the technology company’s stock worth $1,560,000 after acquiring an additional 375 shares during the period. Naples Global Advisors LLC boosted its stake in shares of AT&T by 1.0% in the first quarter. Naples Global Advisors LLC now owns 65,740 shares of the technology company’s stock worth $2,732,000 after acquiring an additional 632 shares during the period. Finally, V Wealth Management LLC boosted its stake in shares of AT&T by 8.9% in the first quarter. V Wealth Management LLC now owns 49,945 shares of the technology company’s stock worth $2,071,000 after acquiring an additional 4,061 shares during the period. 55.08% of the stock is owned by institutional investors and hedge funds.
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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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