Traders Buy Shares of AT&T (T) on Weakness

Traders bought shares of AT&T Inc. (NYSE:T) on weakness during trading on Wednesday. $177.69 million flowed into the stock on the tick-up and $85.16 million flowed out of the stock on the tick-down, for a money net flow of $92.53 million into the stock. Of all stocks tracked, AT&T had the 6th highest net in-flow for the day. AT&T traded down ($0.17) for the day and closed at $38.89

A number of brokerages have issued reports on T. Vetr cut AT&T from a “strong-buy” rating to a “buy” rating and set a $42.75 price objective for the company. in a research note on Tuesday, September 26th. Moffett Nathanson reiterated a “neutral” rating on shares of AT&T in a research note on Monday, October 16th. Zacks Investment Research upgraded AT&T from a “sell” rating to a “hold” rating in a research note on Tuesday, December 19th. Morgan Stanley boosted their price target on AT&T from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 27th. Finally, Macquarie restated a “buy” rating and issued a $43.00 price target on shares of AT&T in a research note on Friday, September 1st. One investment analyst has rated the stock with a sell rating, eighteen have issued a hold rating and eleven have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $42.83.

The company has a debt-to-equity ratio of 1.23, a current ratio of 1.60 and a quick ratio of 1.60. The firm has a market cap of $238,745.70, a price-to-earnings ratio of 18.93, a P/E/G ratio of 3.24 and a beta of 0.44.

AT&T (NYSE:T) last issued its quarterly earnings data on Tuesday, October 24th. The technology company reported $0.74 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.01). AT&T had a return on equity of 14.49% and a net margin of 8.00%. The firm had revenue of $39.67 billion during the quarter, compared to the consensus estimate of $40.34 billion. During the same period in the previous year, the firm earned $0.74 EPS. The business’s revenue was down 3.0% on a year-over-year basis. research analysts anticipate that AT&T Inc. will post 2.92 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 5.10%. The ex-dividend date is Tuesday, January 9th. This is a positive change from AT&T’s previous quarterly dividend of $0.49. AT&T’s payout ratio is currently 94.69%.

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. Insiders own 0.09% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Israel Discount Bank of New York raised its position in AT&T by 0.6% during the second quarter. Israel Discount Bank of New York now owns 4,075 shares of the technology company’s stock valued at $154,000 after purchasing an additional 25 shares during the period. Greatmark Investment Partners Inc. raised its position in AT&T by 0.4% during the second quarter. Greatmark Investment Partners Inc. now owns 12,998 shares of the technology company’s stock valued at $490,000 after purchasing an additional 53 shares during the period. Cim LLC raised its position in AT&T by 1.0% during the second quarter. Cim LLC now owns 6,399 shares of the technology company’s stock valued at $241,000 after purchasing an additional 62 shares during the period. Stratford Consulting LLC raised its position in AT&T by 0.9% during the second quarter. Stratford Consulting LLC now owns 7,277 shares of the technology company’s stock valued at $275,000 after purchasing an additional 68 shares during the period. Finally, Moon Capital Management LLC raised its position in AT&T by 0.3% during the second quarter. Moon Capital Management LLC now owns 21,834 shares of the technology company’s stock valued at $824,000 after purchasing an additional 75 shares during the period. Institutional investors and hedge funds own 55.75% of the company’s stock.

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About AT&T

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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