Traders Sell Shares of AT&T (T) on Strength (T)

Traders sold shares of AT&T Inc. (NYSE:T) on strength during trading on Monday. $134.23 million flowed into the stock on the tick-up and $300.07 million flowed out of the stock on the tick-down, for a money net flow of $165.84 million out of the stock. Of all equities tracked, AT&T had the 0th highest net out-flow for the day. AT&T traded up $0.16 for the day and closed at $29.71

Several research analysts have recently weighed in on the company. Cowen reissued a “buy” rating and issued a $35.00 price objective on shares of AT&T in a research report on Thursday, January 31st. Barclays set a $32.00 price objective on AT&T and gave the stock a “hold” rating in a research report on Friday, January 18th. Bank of America reissued a “buy” rating and issued a $37.00 price objective on shares of AT&T in a research report on Friday, December 14th. Citigroup raised AT&T from a “neutral” rating to a “buy” rating and set a $34.00 price objective for the company in a research report on Tuesday, December 11th. Finally, JPMorgan Chase & Co. raised AT&T from a “neutral” rating to an “overweight” rating and set a $31.82 price objective for the company in a research report on Sunday, December 9th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $35.89.

The stock has a market cap of $183.00 billion, a P/E ratio of 8.48, a PEG ratio of 1.25 and a beta of 0.54. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.80 and a quick ratio of 0.81.

AT&T (NYSE:T) last issued its earnings results on Wednesday, January 30th. The technology company reported $0.86 EPS for the quarter, meeting analysts’ consensus estimates of $0.86. AT&T had a return on equity of 13.47% and a net margin of 11.34%. The business had revenue of $47.99 billion during the quarter, compared to analyst estimates of $48.50 billion. During the same period in the previous year, the company posted $0.78 EPS. The firm’s revenue was up 15.2% compared to the same quarter last year. Equities analysts predict that AT&T Inc. will post 3.59 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, February 1st. Stockholders of record on Thursday, January 10th were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 6.84%. The ex-dividend date was Wednesday, January 9th. This is an increase from AT&T’s previous quarterly dividend of $0.50. AT&T’s payout ratio is presently 57.95%.

In related news, CEO John T. Stankey sold 3,748 shares of AT&T stock in a transaction that occurred on Thursday, January 31st. The shares were sold at an average price of $29.84, for a total value of $111,840.32. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.09% of the company’s stock.

A number of hedge funds have recently modified their holdings of T. NuWave Investment Management LLC purchased a new position in AT&T in the fourth quarter worth $40,000. WealthTrust Arizona LLC grew its position in AT&T by 76.2% in the fourth quarter. WealthTrust Arizona LLC now owns 1,427 shares of the technology company’s stock worth $41,000 after acquiring an additional 617 shares in the last quarter. Cranbrook Wealth Management LLC grew its position in AT&T by 76.4% in the fourth quarter. Cranbrook Wealth Management LLC now owns 1,596 shares of the technology company’s stock worth $46,000 after acquiring an additional 691 shares in the last quarter. Smart Portfolios LLC grew its position in AT&T by 44.8% in the fourth quarter. Smart Portfolios LLC now owns 1,615 shares of the technology company’s stock worth $46,000 after acquiring an additional 500 shares in the last quarter. Finally, Mackey Komara & Dankovich LLC purchased a new position in AT&T in the fourth quarter worth $76,000. 64.77% of the stock is currently owned by institutional investors and hedge funds.

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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.

Read More: What is Net Asset Value (NAV)?

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