Short Interest in AT&T Inc. (T) Grows By 3.9%
AT&T Inc. (NYSE:T) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 177,100,145 shares, a growth of 3.9% from the August 15th total of 170,413,175 shares. Based on an average daily trading volume, of 15,832,350 shares, the short-interest ratio is presently 11.2 days. Approximately 2.9% of the company’s stock are sold short.
Several brokerages have issued reports on T. Royal Bank Of Canada set a $42.00 target price on shares of AT&T and gave the stock a “hold” rating in a report on Saturday, May 20th. Vetr upgraded shares of AT&T from a “buy” rating to a “strong-buy” rating and set a $42.91 price target for the company in a research note on Wednesday, August 16th. Moffett Nathanson upgraded shares of AT&T from a “sell” rating to a “neutral” rating in a research note on Tuesday, May 30th. They noted that the move was a valuation call. Cowen and Company reiterated a “market perform” rating and issued a $41.00 price target (down from $43.00) on shares of AT&T in a research note on Wednesday, July 26th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $48.00 price target on shares of AT&T in a research note on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. AT&T has an average rating of “Hold” and a consensus target price of $43.41.
A number of institutional investors have recently added to or reduced their stakes in the stock. W. E. Donoghue & Co. LLC acquired a new stake in AT&T in the 2nd quarter valued at $15,573,000. Pinnacle Family Advisors LLC acquired a new stake in AT&T in the 2nd quarter valued at $275,000. Intl Fcstone Inc. grew its stake in AT&T by 103.1% in the 2nd quarter. Intl Fcstone Inc. now owns 126,613 shares of the technology company’s stock valued at $4,777,000 after acquiring an additional 64,258 shares during the period. Griffin Asset Management Inc. acquired a new stake in AT&T in the 2nd quarter valued at $4,172,000. Finally, Gs Investments Inc. acquired a new stake in AT&T in the 2nd quarter valued at $804,000. 55.01% of the stock is currently owned by hedge funds and other institutional investors.
AT&T (T) opened at 37.10 on Friday. AT&T has a 52-week low of $35.10 and a 52-week high of $43.03. The company has a market capitalization of $227.79 billion, a price-to-earnings ratio of 17.43 and a beta of 0.49. The firm has a 50 day moving average of $37.65 and a 200-day moving average of $38.92.
AT&T (NYSE:T) last released its quarterly earnings results on Tuesday, July 25th. The technology company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.05. AT&T had a net margin of 8.12% and a return on equity of 14.53%. The firm had revenue of $39.84 billion for the quarter, compared to analysts’ expectations of $39.84 billion. During the same quarter last year, the company earned $0.72 EPS. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. Equities analysts expect that AT&T will post $2.94 EPS for the current year.
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AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.
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