Traders Sell Shares of AT&T Inc. (T) on Strength (T)
Investors sold shares of AT&T Inc. (NYSE:T) on strength during trading hours on Wednesday. $100.20 million flowed into the stock on the tick-up and $175.46 million flowed out of the stock on the tick-down, for a money net flow of $75.26 million out of the stock. Of all stocks tracked, AT&T had the 0th highest net out-flow for the day. AT&T traded up $0.61 for the day and closed at $40.57
Several research firms have recently issued reports on T. Vetr downgraded shares of AT&T from a “hold” rating to a “sell” rating and set a $38.71 price objective on the stock. in a report on Tuesday, June 21st. Barclays PLC reissued a “buy” rating on shares of AT&T in a research note on Sunday, July 17th. S&P Equity Research set a $46.00 target price on shares of AT&T and gave the company a “buy” rating in a research note on Sunday, July 24th. FBR & Co upped their target price on shares of AT&T from $38.00 to $42.00 and gave the company a “market perform” rating in a research note on Friday, July 22nd. Finally, Robert W. Baird reissued a “neutral” rating and issued a $41.00 target price on shares of AT&T in a research note on Tuesday, June 28th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $41.59.
The stock has a 50 day moving average of $41.39 and a 200 day moving average of $40.35. The company has a market capitalization of $249.59 billion, a P/E ratio of 17.49 and a beta of 0.28.
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AT&T (NYSE:T) last announced its quarterly earnings results on Thursday, July 21st. The company reported $0.72 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.72. The company had revenue of $40.50 billion for the quarter, compared to analyst estimates of $40.75 billion. AT&T had a net margin of 8.76% and a return on equity of 13.93%. On average, analysts expect that AT&T Inc. will post $2.86 EPS for the current fiscal year.
In related news, CEO John T. Stankey sold 2,131 shares of AT&T stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $43.38, for a total transaction of $92,442.78. Following the sale, the chief executive officer now directly owns 13,583 shares in the company, valued at approximately $589,230.54. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.07% of the company’s stock.
A number of large investors have recently bought and sold shares of T. Evercore Wealth Management LLC increased its stake in AT&T by 2.7% in the second quarter. Evercore Wealth Management LLC now owns 181,675 shares of the company’s stock valued at $7,850,000 after buying an additional 4,827 shares in the last quarter. Macquarie Group Ltd. increased its stake in AT&T by 0.4% in the second quarter. Macquarie Group Ltd. now owns 18,473,578 shares of the company’s stock valued at $798,243,000 after buying an additional 78,603 shares in the last quarter. Carnick & Kubik Group LLC acquired a new stake in AT&T during the second quarter valued at approximately $1,654,000. Williams Jones & Associates LLC increased its stake in AT&T by 26.9% in the second quarter. Williams Jones & Associates LLC now owns 75,131 shares of the company’s stock valued at $3,246,000 after buying an additional 15,910 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in AT&T during the second quarter valued at approximately $10,740,000. Institutional investors and hedge funds own 53.64% of the company’s stock.
AT&T Company Profile
AT&T Inc is a holding company. The Company offers communications and digital entertainment services in the United States and the world. It operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Business Solutions segment includes various categories, including wireless service, fixed strategic services, legacy voice and data services, other services and wireless equipment.
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