Traders Sell Shares of AT&T (T) on Strength (T)
Investors sold shares of AT&T Inc. (NYSE:T) on strength during trading on Thursday. $98.48 million flowed into the stock on the tick-up and $233.25 million flowed out of the stock on the tick-down, for a money net flow of $134.77 million out of the stock. Of all equities tracked, AT&T had the 6th highest net out-flow for the day. AT&T traded up $0.08 for the day and closed at $32.03
A number of research analysts recently weighed in on T shares. ValuEngine upgraded shares of AT&T from a “strong sell” rating to a “sell” rating in a research note on Wednesday, March 20th. Barclays set a $32.00 target price on shares of AT&T and gave the company a “hold” rating in a research note on Friday, January 18th. Desjardins restated an “average” rating and set a $56.50 target price on shares of AT&T in a research note on Friday, April 5th. Cowen restated a “buy” rating and set a $35.00 target price on shares of AT&T in a research note on Thursday, January 31st. Finally, Raymond James upgraded shares of AT&T from a “market perform” rating to an “outperform” rating and set a $34.00 target price on the stock in a research note on Friday, March 15th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company. AT&T presently has a consensus rating of “Hold” and an average target price of $36.26.
The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market cap of $195.99 billion, a PE ratio of 9.10, a price-to-earnings-growth ratio of 1.35 and a beta of 0.59.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be issued a $0.51 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $2.04 dividend on an annualized basis and a yield of 6.37%. AT&T’s dividend payout ratio is currently 57.95%.
In other AT&T news, CEO John T. Stankey sold 3,748 shares of AT&T stock in a transaction on Thursday, January 31st. The shares were sold at an average price of $29.84, for a total value of $111,840.32. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.07% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Oregon Public Employees Retirement Fund increased its holdings in shares of AT&T by 6,759.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 96,680,677 shares of the technology company’s stock worth $3,388,000 after buying an additional 95,271,251 shares during the last quarter. Norges Bank bought a new stake in shares of AT&T in the 4th quarter worth about $2,077,198,000. BlackRock Inc. increased its holdings in shares of AT&T by 4.0% in the 4th quarter. BlackRock Inc. now owns 454,818,786 shares of the technology company’s stock worth $12,980,526,000 after buying an additional 17,703,030 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of AT&T by 8.2% in the 4th quarter. Geode Capital Management LLC now owns 92,792,834 shares of the technology company’s stock worth $2,643,990,000 after buying an additional 7,017,620 shares during the last quarter. Finally, Vanguard Group Inc increased 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 worth $17,831,164,000 after buying an additional 3,379,045 shares during the last quarter. Institutional investors own 64.59% of the company’s stock.
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AT&T Company Profile (NYSE:T)
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.
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