Traders Buy Shares of AT&T (T) on Weakness
Traders purchased shares of AT&T Inc. (NYSE:T) on weakness during trading on Friday. $749.28 million flowed into the stock on the tick-up and $504.62 million flowed out of the stock on the tick-down, for a money net flow of $244.66 million into the stock. Of all companies tracked, AT&T had the 29th highest net in-flow for the day. AT&T traded down ($0.34) for the day and closed at $28.31
T has been the topic of several research analyst reports. Cowen raised their price target on AT&T from $34.00 to $36.00 in a research report on Sunday, December 9th. ValuEngine raised AT&T from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 12th. Citigroup raised AT&T from a “neutral” rating to a “buy” rating and set a $34.00 price target on the stock in a research report on Tuesday, December 11th. Bank of America reaffirmed a “buy” rating and issued a $37.00 price target on shares of AT&T in a research report on Friday, December 14th. Finally, Zacks Investment Research downgraded AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 25th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $36.06.
The stock has a market capitalization of $175.88 billion, a price-to-earnings ratio of 9.28, a PEG ratio of 1.29 and a beta of 0.44. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.81 and a quick ratio of 0.81.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 1st. Shareholders of record on Thursday, January 10th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 7.21%. This is an increase from AT&T’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Wednesday, January 9th. AT&T’s payout ratio is presently 65.57%.
In other news, Director Michael B. Mccallister bought 4,000 shares of the business’s stock in a transaction dated Friday, October 26th. The stock was bought at an average price of $29.14 per share, for a total transaction of $116,560.00. Following the completion of the purchase, the director now owns 7,361 shares of the company’s stock, valued at approximately $214,499.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.09% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the business. Great Lakes Advisors LLC raised its holdings in shares of AT&T by 2.2% in the 3rd quarter. Great Lakes Advisors LLC now owns 68,734 shares of the technology company’s stock valued at $2,308,000 after purchasing an additional 1,479 shares during the period. Ibex Wealth Advisors raised its holdings in shares of AT&T by 0.8% in the 3rd quarter. Ibex Wealth Advisors now owns 198,405 shares of the technology company’s stock valued at $6,644,000 after purchasing an additional 1,493 shares during the period. SSI Investment Management Inc. raised its holdings in AT&T by 10.0% in the 2nd quarter. SSI Investment Management Inc. now owns 17,160 shares of the technology company’s stock valued at $549,000 after acquiring an additional 1,553 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc. raised its holdings in AT&T by 1.7% in the 2nd quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 95,276 shares of the technology company’s stock valued at $3,059,000 after acquiring an additional 1,553 shares during the period. Finally, Tradewinds Capital Management LLC raised its holdings in AT&T by 27.0% in the 2nd quarter. Tradewinds Capital Management LLC now owns 7,332 shares of the technology company’s stock valued at $235,000 after acquiring an additional 1,560 shares during the period. Institutional investors own 63.42% of the company’s stock.
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About AT&T (NYSE:T)
AT&T Inc provides communications and digital entertainment services. The company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility, and International. The Business Solutions segment offers wireless services, strategic services, legacy voice, data services, wireless equipment, and other services to multinational companies, governmental and wholesale customers, and individual subscribers.
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