Traders Buy Shares of AT&T (T) on Weakness
Traders purchased shares of AT&T Inc. (NYSE:T) on weakness during trading on Tuesday. $295.55 million flowed into the stock on the tick-up and $228.96 million flowed out of the stock on the tick-down, for a money net flow of $66.59 million into the stock. Of all equities tracked, AT&T had the 22nd highest net in-flow for the day. AT&T traded down ($0.93) for the day and closed at $29.42
A number of equities research analysts have recently issued reports on T shares. Tigress Financial upgraded AT&T from a “neutral” rating to a “buy” rating in a report on Monday, October 22nd. Bank of America restated a “buy” rating on shares of AT&T in a report on Tuesday, August 21st. Macquarie restated a “buy” rating and set a $35.00 price objective on shares of AT&T in a report on Wednesday, September 12th. UBS Group upgraded AT&T from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $33.00 to $38.00 in a report on Friday, September 21st. They noted that the move was a valuation call. Finally, Deutsche Bank boosted their price objective on AT&T from $35.00 to $37.00 and gave the stock a “hold” rating in a report on Monday, September 24th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $36.59.
The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.91. The stock has a market cap of $186.32 billion, a price-to-earnings ratio of 9.65, a P/E/G ratio of 2.42 and a beta of 0.42.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 1st. Stockholders of record on Wednesday, October 10th were given a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, October 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.80%. AT&T’s payout ratio is 65.57%.
In other AT&T news, Director Michael B. Mccallister purchased 4,000 shares of the company’s stock in a transaction dated Friday, October 26th. The stock was bought at an average cost of $29.14 per share, for a total transaction of $116,560.00. Following the completion of the transaction, the director now owns 7,361 shares in the company, valued at $214,499.54. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.09% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in T. Price Wealth Management Inc. increased its holdings in shares of AT&T by 165.1% during the second quarter. Price Wealth Management Inc. now owns 3,314 shares of the technology company’s stock worth $106,000 after buying an additional 2,064 shares in the last quarter. Chessman Wealth Strategies RIA acquired a new position in shares of AT&T during the third quarter worth $114,000. Stelac Advisory Services LLC acquired a new position in shares of AT&T during the third quarter worth $121,000. CKW Financial Group increased its holdings in shares of AT&T by 105.0% during the second quarter. CKW Financial Group now owns 4,215 shares of the technology company’s stock worth $135,000 after buying an additional 2,159 shares in the last quarter. Finally, Braun Bostich & Associates Inc. acquired a new position in shares of AT&T during the first quarter worth $137,000. Institutional investors own 63.84% of the company’s stock.
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AT&T Company Profile (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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