Investors Sell Shares of AT&T Inc. (T) on Strength (T)

Traders sold shares of AT&T Inc. (NYSE:T) on strength during trading on Wednesday. $96.30 million flowed into the stock on the tick-up and $158.39 million flowed out of the stock on the tick-down, for a money net flow of $62.09 million out of the stock. Of all stocks tracked, AT&T had the 8th highest net out-flow for the day. AT&T traded up $0.02 for the day and closed at $39.50

T has been the subject of a number of analyst reports. Vetr upgraded AT&T from a “hold” rating to a “buy” rating and set a $39.81 price target for the company in a research note on Wednesday, June 21st. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating on shares of AT&T in a research note on Wednesday, June 28th. Wells Fargo & Company reiterated an “outperform” rating on shares of AT&T in a research note on Wednesday, June 28th. Royal Bank Of Canada reiterated a “hold” rating and set a $42.00 price target on shares of AT&T in a research note on Sunday, July 9th. Finally, Zacks Investment Research downgraded AT&T from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. One research analyst has rated the stock with a sell rating, nineteen have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $43.87.

The firm has a market cap of $242.53 billion, a price-to-earnings ratio of 18.56 and a beta of 0.49. The stock’s 50 day moving average price is $37.75 and its 200 day moving average price is $38.58.

AT&T (NYSE:T) last issued its quarterly earnings results on Tuesday, July 25th. The technology company reported $0.79 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.05. The business had revenue of $39.84 billion for the quarter, compared to analysts’ expectations of $39.84 billion. AT&T had a net margin of 8.12% and a return on equity of 14.53%. The company’s revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.72 EPS. Equities analysts forecast that AT&T Inc. will post $2.94 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th will be paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 4.96%. The ex-dividend date of this dividend is Friday, October 6th. AT&T’s dividend payout ratio is presently 92.45%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Holderness Investments Co. lifted its stake in shares of AT&T by 62.9% during the 1st quarter. Holderness Investments Co. now owns 96,452 shares of the technology company’s stock valued at $4,008,000 after buying an additional 37,234 shares in the last quarter. Doyle Wealth Management lifted its stake in shares of AT&T by 4.3% during the 2nd quarter. Doyle Wealth Management now owns 37,561 shares of the technology company’s stock valued at $1,417,000 after buying an additional 1,559 shares in the last quarter. Altfest L J & Co. Inc. lifted its stake in shares of AT&T by 42.1% during the 2nd quarter. Altfest L J & Co. Inc. now owns 45,618 shares of the technology company’s stock valued at $1,721,000 after buying an additional 13,510 shares in the last quarter. Shell Asset Management Co. lifted its stake in shares of AT&T by 0.4% during the 1st quarter. Shell Asset Management Co. now owns 1,245,965 shares of the technology company’s stock valued at $51,770,000 after buying an additional 5,354 shares in the last quarter. Finally, Private Capital Management Inc. lifted its stake in shares of AT&T by 29.0% during the 2nd quarter. Private Capital Management Inc. now owns 11,350 shares of the technology company’s stock valued at $428,000 after buying an additional 2,550 shares in the last quarter. Institutional investors own 54.99% 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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