Investors Buy AT&T (T) on Weakness

Traders purchased shares of AT&T Inc. (NYSE:T) on weakness during trading on Thursday. $282.96 million flowed into the stock on the tick-up and $151.78 million flowed out of the stock on the tick-down, for a money net flow of $131.18 million into the stock. Of all stocks tracked, AT&T had the 3rd highest net in-flow for the day. AT&T traded down ($0.19) for the day and closed at $30.49

Several research analysts recently weighed in on T shares. Scotiabank set a $32.00 price objective on shares of AT&T and gave the stock a “hold” rating in a research report on Thursday, October 25th. Raymond James cut shares of AT&T from an “outperform” rating to a “market perform” rating and set a $31.75 price objective for the company. in a research report on Friday, July 13th. Zacks Investment Research upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a research report on Tuesday, July 17th. Argus restated a “buy” rating and issued a $48.00 price objective on shares of AT&T in a research report on Friday, October 26th. Finally, Robert W. Baird dropped their price objective on shares of AT&T from $38.00 to $35.00 and set an “outperform” rating for the company in a research report on Thursday, October 25th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $37.95.

AT&T (NYSE:T) last issued its earnings results on Wednesday, October 24th. The technology company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.94 by ($0.04). The business had revenue of $45.74 billion for the quarter, compared to the consensus estimate of $45.73 billion. The business’s revenue was up 15.3% on a year-over-year basis. During the same period last year, the firm earned $0.74 EPS.

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 1st. Shareholders of record on Wednesday, October 10th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 6.55%. The ex-dividend date was Tuesday, October 9th.

In other news, Director Michael B. Mccallister acquired 4,000 shares of the stock in a transaction that occurred on Friday, October 26th. The stock was acquired at an average price of $29.14 per share, for a total transaction of $116,560.00. Following the transaction, the director now directly owns 7,361 shares in the company, valued at $214,499.54. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Piazza Samuel A. Jr. Di acquired 7,690 shares of the stock in a transaction that occurred on Wednesday, August 8th. The stock was purchased at an average price of $32.48 per share, with a total value of $249,771.20. Following the transaction, the director now owns 31,405 shares in the company, valued at $1,020,034.40. The disclosure for this purchase can be found here. Insiders own 0.09% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in T. Bank of New York Mellon Corp increased its position in shares of AT&T by 21.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 72,724,434 shares of the technology company’s stock valued at $2,335,182,000 after buying an additional 12,709,982 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of AT&T by 17.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 82,556,205 shares of the technology company’s stock valued at $2,650,940,000 after buying an additional 11,990,755 shares in the last quarter. BlackRock Inc. increased its position in shares of AT&T by 2.8% in the 1st quarter. BlackRock Inc. now owns 387,352,856 shares of the technology company’s stock valued at $13,809,130,000 after buying an additional 10,535,763 shares in the last quarter. Northern Trust Corp increased its position in shares of AT&T by 13.7% in the 2nd quarter. Northern Trust Corp now owns 83,934,430 shares of the technology company’s stock valued at $2,695,135,000 after buying an additional 10,082,798 shares in the last quarter. Finally, Charles Schwab Investment Advisory Inc. bought a new stake in shares of AT&T in the 2nd quarter valued at $321,448,000. Institutional investors and hedge funds own 64.77% of the company’s stock.

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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