Investors Buy AT&T (T) on Weakness
Traders purchased shares of AT&T Inc. (NYSE:T) on weakness during trading hours on Wednesday. $328.53 million flowed into the stock on the tick-up and $273.21 million flowed out of the stock on the tick-down, for a money net flow of $55.32 million into the stock. Of all companies tracked, AT&T had the 8th highest net in-flow for the day. AT&T traded down ($0.67) for the day and closed at $30.10
A number of analysts recently commented on T shares. Tigress Financial raised AT&T from a “neutral” rating to a “buy” rating in a research report on Monday, October 22nd. Bank of America set a $37.00 target price on AT&T and gave the stock a “buy” rating in a research report on Monday, November 19th. Moffett Nathanson raised AT&T from a “sell” rating to a “neutral” rating and set a $28.00 target price for the company in a research report on Monday, November 26th. JPMorgan Chase & Co. raised AT&T from a “neutral” rating to an “overweight” rating and set a $38.00 target price for the company in a research report on Monday, December 3rd. Finally, Cowen raised AT&T from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $34.00 to $36.00 in a research report on Monday, December 3rd. Two equities research 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’s stock. AT&T presently has an average rating of “Buy” and a consensus target price of $35.97.
The stock has a market cap of $184.78 billion, a price-to-earnings ratio of 10.12, a price-to-earnings-growth ratio of 1.31 and a beta of 0.52. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.91.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 1st. Investors of record on Thursday, January 10th will be paid a dividend of $0.51 per share. This is a positive change from AT&T’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Wednesday, January 9th. This represents a $2.04 annualized dividend and a yield of 6.61%. AT&T’s dividend payout ratio (DPR) is currently 66.89%.
In other AT&T news, Director Michael B. Mccallister acquired 4,000 shares of the company’s stock in a transaction that occurred on Friday, October 26th. The stock was bought at an average price of $29.14 per share, with a total value of $116,560.00. Following the completion of the purchase, the director now owns 7,361 shares of the company’s stock, valued at $214,499.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.09% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of T. Hanson & Doremus Investment Management lifted its stake in AT&T by 24.3% during the second quarter. Hanson & Doremus Investment Management now owns 81,694 shares of the technology company’s stock worth $2,623,000 after purchasing an additional 15,966 shares during the last quarter. Whittier Trust Co. lifted its stake in AT&T by 9.5% during the second quarter. Whittier Trust Co. now owns 462,757 shares of the technology company’s stock worth $14,859,000 after purchasing an additional 40,293 shares during the last quarter. BP PLC lifted its stake in AT&T by 30.5% during the second quarter. BP PLC now owns 914,826 shares of the technology company’s stock worth $29,375,000 after purchasing an additional 213,826 shares during the last quarter. AdvisorNet Financial Inc lifted its stake in AT&T by 14.1% during the second quarter. AdvisorNet Financial Inc now owns 50,507 shares of the technology company’s stock worth $1,622,000 after purchasing an additional 6,247 shares during the last quarter. Finally, Keeler Thomas Management LLC lifted its stake in AT&T by 17.0% during the second quarter. Keeler Thomas Management LLC now owns 17,042 shares of the technology company’s stock worth $547,000 after purchasing an additional 2,479 shares during the last quarter. 63.41% of the stock is owned by institutional investors.
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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.
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