Traders Buy AT&T Inc. (T) on Weakness

Traders purchased shares of AT&T Inc. (NYSE:T) on weakness during trading hours on Wednesday. $140.03 million flowed into the stock on the tick-up and $112.77 million flowed out of the stock on the tick-down, for a money net flow of $27.26 million into the stock. Of all equities tracked, AT&T had the 27th highest net in-flow for the day. AT&T traded down ($0.31) for the day and closed at $38.19

Several analysts recently weighed in on T shares. Barclays PLC dropped their price target on AT&T from $41.00 to $39.00 and set an “equal weight” rating for the company in a report on Friday, July 14th. Zacks Investment Research cut AT&T from a “buy” rating to a “hold” rating in a report on Thursday. Vetr cut AT&T from a “strong-buy” rating to a “buy” rating and set a $42.75 price target for the company. in a report on Tuesday, September 26th. Royal Bank Of Canada reissued a “hold” rating and set a $42.00 price target on shares of AT&T in a report on Sunday, July 9th. Finally, Bank of America Corporation cut AT&T from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $46.00 to $39.00 in a report on Thursday, July 13th. One analyst has rated the stock with a sell rating, twenty-one have assigned a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $43.53.

The stock has a market cap of $220.18 billion, a price-to-earnings ratio of 16.85 and a beta of 0.49. The firm has a 50 day moving average price of $37.82 and a 200 day moving average price of $38.44.

AT&T (NYSE:T) last released its quarterly earnings results on Tuesday, July 25th. The technology company reported $0.79 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.05. AT&T had a return on equity of 14.53% and a net margin of 8.12%. The business had revenue of $39.84 billion for the quarter, compared to the consensus estimate of $39.84 billion. During the same quarter last year, the business posted $0.72 earnings per share. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. Equities research analysts forecast that AT&T Inc. will post $2.95 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th will be given a dividend of $0.49 per share. The ex-dividend date of this dividend is Friday, October 6th. This represents a $1.96 dividend on an annualized basis and a yield of 5.47%. AT&T’s payout ratio is 92.45%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in T. Oliver Luxxe Assets LLC grew its stake in shares of AT&T by 3.5% during the first quarter. Oliver Luxxe Assets LLC now owns 117,228 shares of the technology company’s stock valued at $4,871,000 after buying an additional 3,974 shares during the last quarter. Addison Capital Co grew its stake in shares of AT&T by 22.7% during the first quarter. Addison Capital Co now owns 7,645 shares of the technology company’s stock valued at $318,000 after buying an additional 1,414 shares during the last quarter. Pinnacle Bank bought a new position in shares of AT&T during the first quarter valued at about $1,153,000. Affinity Wealth Management grew its stake in shares of AT&T by 0.8% during the first quarter. Affinity Wealth Management now owns 17,446 shares of the technology company’s stock valued at $725,000 after buying an additional 146 shares during the last quarter. Finally, National Investment Services Inc. WI grew its stake in shares of AT&T by 17.2% during the first quarter. National Investment Services Inc. WI now owns 64,449 shares of the technology company’s stock valued at $2,678,000 after buying an additional 9,462 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

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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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