Traders Buy AT&T (T) on Weakness

Investors purchased shares of AT&T Inc. (NYSE:T) on weakness during trading hours on Thursday. $395.65 million flowed into the stock on the tick-up and $239.85 million flowed out of the stock on the tick-down, for a money net flow of $155.80 million into the stock. Of all companies tracked, AT&T had the 8th highest net in-flow for the day. AT&T traded down ($0.20) for the day and closed at $30.53

A number of research analysts have issued reports on the stock. Cowen raised shares of AT&T from a “market perform” rating to an “outperform” rating and increased their target price for the company from $34.00 to $36.00 in a report on Monday. JPMorgan Chase & Co. raised shares of AT&T from a “neutral” rating to an “overweight” rating and set a $38.00 target price for the company in a report on Monday. Moffett Nathanson raised shares of AT&T from a “sell” rating to a “neutral” rating and set a $28.00 target price for the company in a report on Monday, November 26th. Bank of America set a $37.00 target price on shares of AT&T and gave the company a “buy” rating in a report on Monday, November 19th. Finally, Argus reaffirmed a “buy” rating and issued a $48.00 target price on shares of AT&T in a report on Friday, October 26th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. AT&T currently has a consensus rating of “Hold” and an average target price of $36.42.

The stock has a market cap of $188.65 billion, a P/E ratio of 10.01, a P/E/G ratio of 1.69 and a beta of 0.44. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.91.

AT&T (NYSE:T) last released its quarterly 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 during the quarter, compared to analyst estimates of $45.73 billion. AT&T had a net margin of 20.40% and a return on equity of 13.61%. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.74 earnings per share. Research analysts expect that AT&T Inc. will post 3.51 EPS for the current fiscal year.

In other news, Director Michael B. Mccallister bought 4,000 shares of the firm’s stock in a transaction that occurred on Friday, October 26th. The shares were purchased at an average price of $29.14 per share, for a total transaction of $116,560.00. Following the completion of the transaction, the director now owns 7,361 shares in the company, valued at $214,499.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.09% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of AT&T by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 531,005,481 shares of the technology company’s stock valued at $17,831,164,000 after purchasing an additional 3,379,045 shares during the last quarter. Newport Trust Co boosted its holdings in shares of AT&T by 1.5% in the 2nd quarter. Newport Trust Co now owns 204,091,273 shares of the technology company’s stock valued at $6,553,371,000 after purchasing an additional 3,055,174 shares during the last quarter. Northern Trust Corp boosted its holdings 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 purchasing an additional 10,082,798 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings 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 purchasing an additional 11,990,755 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of AT&T by 1.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 73,430,336 shares of the technology company’s stock valued at $2,465,790,000 after purchasing an additional 705,902 shares during the last quarter. Hedge funds and other institutional investors own 63.61% of the company’s stock.

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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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