Traders Sell Shares of AT&T (T) on Strength (T)

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Traders sold shares of AT&T Inc. (NYSE:T) on strength during trading hours on Thursday. $143.10 million flowed into the stock on the tick-up and $214.05 million flowed out of the stock on the tick-down, for a money net flow of $70.95 million out of the stock. Of all stocks tracked, AT&T had the 9th highest net out-flow for the day. AT&T traded up $0.16 for the day and closed at $32.18

T has been the topic of a number of research analyst reports. Bank of America restated a “buy” rating on shares of AT&T in a research note on Tuesday, August 21st. UBS Group upgraded AT&T from a “market perform” rating to an “outperform” rating in a research note on Wednesday, June 13th. Oppenheimer upgraded AT&T from a “market perform” rating to an “outperform” rating and set a $41.00 target price on the stock in a research note on Wednesday, June 13th. Morgan Stanley restated an “overweight” rating and issued a $37.00 target price on shares of AT&T in a research note on Wednesday, June 27th. Finally, Zacks Investment Research downgraded AT&T from a “buy” rating to a “hold” rating in a research note on Friday, July 20th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. AT&T has a consensus rating of “Hold” and an average price target of $38.21.

The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market capitalization of $196.08 billion, a P/E ratio of 10.52, a P/E/G ratio of 2.53 and a beta of 0.40.

AT&T (NYSE:T) last posted its quarterly earnings results on Tuesday, July 24th. The technology company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The company had revenue of $38.99 billion for the quarter, compared to analysts’ expectations of $38.45 billion. AT&T had a net margin of 20.12% and a return on equity of 13.64%. AT&T’s revenue was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.79 EPS. equities analysts predict that AT&T Inc. will post 3.54 earnings per share for the current year.

In other AT&T news, Director Piazza Samuel A. Jr. Di bought 7,690 shares of the stock in a transaction on Wednesday, August 8th. The shares were acquired at an average price of $32.48 per share, with a total value of $249,771.20. Following the acquisition, the director now directly owns 31,405 shares of the company’s stock, valued at approximately $1,020,034.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Matthew K. Rose bought 65,500 shares of the stock in a transaction on Thursday, July 26th. The shares were acquired at an average cost of $30.51 per share, for a total transaction of $1,998,405.00. Following the acquisition, the director now directly owns 81,319 shares in the company, valued at $2,481,042.69. The disclosure for this purchase can be found here. Insiders own 0.09% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Ironsides Asset Advisors LLC grew its position in AT&T by 450.8% in the second quarter. Ironsides Asset Advisors LLC now owns 54,043 shares of the technology company’s stock worth $1,735,000 after acquiring an additional 44,231 shares in the last quarter. Guardian Investment Management grew its position in AT&T by 8.4% in the second quarter. Guardian Investment Management now owns 143,209 shares of the technology company’s stock worth $4,598,000 after acquiring an additional 11,054 shares in the last quarter. Rowland & Co. Investment Counsel ADV grew its position in AT&T by 1.6% in the second quarter. Rowland & Co. Investment Counsel ADV now owns 131,746 shares of the technology company’s stock worth $4,226,000 after acquiring an additional 2,131 shares in the last quarter. TRUE Private Wealth Advisors grew its position in AT&T by 30.3% in the second quarter. TRUE Private Wealth Advisors now owns 52,786 shares of the technology company’s stock worth $1,694,000 after acquiring an additional 12,275 shares in the last quarter. Finally, Baker Avenue Asset Management LP grew its position in AT&T by 35.3% in the first quarter. Baker Avenue Asset Management LP now owns 28,820 shares of the technology company’s stock worth $1,027,000 after acquiring an additional 7,520 shares in the last quarter. 64.70% of the stock is currently owned by institutional investors and hedge funds.

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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