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

Traders bought shares of AT&T Inc. (NYSE:T) on weakness during trading hours on Tuesday. $255.33 million flowed into the stock on the tick-up and $153.73 million flowed out of the stock on the tick-down, for a money net flow of $101.60 million into the stock. Of all companies tracked, AT&T had the highest net in-flow for the day. AT&T traded down ($0.12) for the day and closed at $38.88

A number of equities research analysts recently weighed in on the company. Vetr upgraded AT&T from a “buy” rating to a “strong-buy” rating and set a $42.91 price target on the stock in a report on Wednesday. BidaskClub upgraded AT&T from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Zacks Investment Research upgraded AT&T from a “sell” rating to a “hold” rating in a report on Thursday, July 27th. Cowen and Company reiterated a “market perform” rating and set a $41.00 target price (down previously from $43.00) on shares of AT&T in a report on Wednesday, July 26th. Finally, Barclays PLC lowered their target price on AT&T from $41.00 to $39.00 and set an “equal weight” rating on the stock in a report on Friday, July 14th. One research analyst has rated the stock with a sell rating, twenty have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. AT&T has a consensus rating of “Hold” and an average target price of $43.50.

The firm has a market cap of $229.45 billion, a PE ratio of 17.56 and a beta of 0.47. The stock has a 50-day moving average price of $37.59 and a 200 day moving average price of $39.51.

AT&T (NYSE:T) last posted its 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. 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 firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.72 earnings per share. Equities analysts expect that AT&T Inc. will post $2.95 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Monday, July 10th were paid a $0.49 dividend. The ex-dividend date was Thursday, July 6th. This represents a $1.96 dividend on an annualized basis and a yield of 5.24%. AT&T’s payout ratio is currently 92.45%.

A number of hedge funds have recently modified their holdings of T. Norges Bank purchased a new stake in shares of AT&T during the fourth quarter valued at $2,416,759,000. Vanguard Group Inc. boosted its stake in shares of AT&T by 2.2% in the second quarter. Vanguard Group Inc. now owns 427,857,308 shares of the technology company’s stock valued at $16,143,056,000 after buying an additional 9,053,649 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of AT&T by 6,188.8% in the second quarter. Janus Henderson Group PLC now owns 6,900,152 shares of the technology company’s stock valued at $260,343,000 after buying an additional 6,790,430 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of AT&T by 13.3% in the second quarter. Ameriprise Financial Inc. now owns 47,961,490 shares of the technology company’s stock valued at $1,808,545,000 after buying an additional 5,619,434 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in shares of AT&T by 1.1% in the second quarter. BlackRock Inc. now owns 367,489,130 shares of the technology company’s stock valued at $13,865,363,000 after buying an additional 4,104,136 shares in the last quarter. 55.24% of the stock is currently owned by hedge funds and other institutional investors.

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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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