Traders Buy AT&T (T) on Weakness
Traders bought shares of AT&T Inc. (NYSE:T) on weakness during trading hours on Wednesday. $409.83 million flowed into the stock on the tick-up and $254.32 million flowed out of the stock on the tick-down, for a money net flow of $155.51 million into the stock. Of all stocks tracked, AT&T had the 6th highest net in-flow for the day. AT&T traded down ($0.87) for the day and closed at $36.62
Several analysts have weighed in on the company. Vetr upgraded AT&T from a “hold” rating to a “buy” rating and set a $39.60 price objective for the company in a research report on Wednesday. KeyCorp boosted their price objective on AT&T from $35.00 to $38.00 and gave the company a “sector weight” rating in a research report on Tuesday, January 2nd. ValuEngine downgraded AT&T from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Zacks Investment Research upgraded AT&T from a “sell” rating to a “hold” rating in a research report on Tuesday, December 19th. Finally, Jefferies Group reiterated a “buy” rating and issued a $36.38 price objective (down previously from $48.00) on shares of AT&T in a research report on Friday, December 1st. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and eleven have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $42.59.
The stock has a market cap of $224,810.00, a P/E ratio of 17.61, a price-to-earnings-growth ratio of 3.14 and a beta of 0.44. 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 issued its quarterly earnings results on Tuesday, October 24th. The technology company reported $0.74 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.01). The firm had revenue of $39.67 billion during the quarter, compared to analysts’ expectations of $40.34 billion. AT&T had a return on equity of 14.49% and a net margin of 8.00%. AT&T’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.74 earnings per share. equities analysts forecast that AT&T Inc. will post 2.92 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 10th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 5.46%. This is a boost from AT&T’s previous quarterly dividend of $0.49. The ex-dividend date is Tuesday, January 9th. AT&T’s dividend payout ratio is presently 94.23%.
In other news, Director Matthew K. Rose purchased 29,600 shares of AT&T stock in a transaction that occurred on Wednesday, October 25th. The shares were bought 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 $104,625. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.09% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. New Capital Management LP lifted its holdings in shares of AT&T by 130.9% during the third quarter. New Capital Management LP now owns 2,646 shares of the technology company’s stock valued at $104,000 after purchasing an additional 1,500 shares in the last quarter. Financial Engines Advisors L.L.C. bought a new position in shares of AT&T during the third quarter valued at $104,000. Macroview Investment Management LLC lifted its holdings in shares of AT&T by 144.3% during the third quarter. Macroview Investment Management LLC now owns 2,700 shares of the technology company’s stock valued at $106,000 after purchasing an additional 1,595 shares in the last quarter. Almanack Investment Partners LLC. bought a new position in shares of AT&T during the first quarter valued at $109,000. Finally, Mountain Capital Investment Advisors Inc bought a new position in shares of AT&T during the second quarter valued at $134,000. 55.76% of the stock is currently owned by hedge funds and other institutional investors.
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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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