Investors Buy AT&T (T) on Weakness

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Investors purchased shares of AT&T Inc. (NYSE:T) on weakness during trading hours on Monday. $186.99 million flowed into the stock on the tick-up and $102.47 million flowed out of the stock on the tick-down, for a money net flow of $84.52 million into the stock. Of all equities tracked, AT&T had the 7th highest net in-flow for the day. AT&T traded down ($0.18) for the day and closed at $32.02

T has been the topic of several recent analyst reports. Desjardins reiterated an “average” rating and issued a $56.50 target price on shares of AT&T in a research note on Friday, April 5th. Cowen reiterated a “buy” rating and issued a $35.00 target price on shares of AT&T in a research note on Thursday, January 31st. Barclays set a $32.00 target price on shares of AT&T and gave the stock a “hold” rating in a research note on Friday, January 18th. 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. Finally, ValuEngine upgraded shares of AT&T from a “strong sell” rating to a “sell” rating in a research report on Wednesday, March 20th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the stock. AT&T currently has a consensus rating of “Hold” and an average price target 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 $197.98 billion, a P/E ratio of 9.14, a price-to-earnings-growth ratio of 1.35 and a beta of 0.59.

AT&T (NYSE:T) last released its earnings results on Wednesday, January 30th. The technology company reported $0.86 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.86. AT&T had a net margin of 11.34% and a return on equity of 13.47%. The company had revenue of $47.99 billion for the quarter, compared to analyst estimates of $48.50 billion. During the same quarter last year, the firm earned $0.78 EPS. The firm’s quarterly revenue was up 15.2% compared to the same quarter last year. On average, equities analysts predict that AT&T Inc. will post 3.59 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 6.34%. The ex-dividend date of this dividend is Tuesday, April 9th. AT&T’s dividend payout ratio is currently 57.95%.

In related news, CEO John T. Stankey sold 3,748 shares of the stock in a transaction on Thursday, January 31st. The shares were sold at an average price of $29.84, for a total transaction of $111,840.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.07% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in T. Oregon Public Employees Retirement Fund grew its holdings in 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 acquiring an additional 95,271,251 shares during the last quarter. Norges Bank bought a new stake in AT&T in the 4th quarter worth $2,077,198,000. BlackRock Inc. grew its holdings in 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 acquiring an additional 17,703,030 shares during the last quarter. Geode Capital Management LLC grew its holdings in 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 acquiring an additional 7,017,620 shares during the last quarter. Finally, Vanguard Group Inc grew its holdings in 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 acquiring an additional 3,379,045 shares during the last quarter. 64.59% of the stock is currently owned by institutional investors and hedge funds.

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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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