AT&T Inc. (NYSE:T) Sees Significant Growth in Short Interest

AT&T Inc. (NYSE:T) was the recipient of a large growth in short interest in December. As of December 31st, there was short interest totalling 113,560,000 shares, a growth of 9.1% from the December 15th total of 104,080,000 shares. Currently, 1.6% of the shares of the stock are short sold. Based on an average trading volume of 28,720,000 shares, the short-interest ratio is presently 4.0 days.

Shares of NYSE:T opened at $38.09 on Wednesday. The business’s 50-day moving average is $38.52 and its 200-day moving average is $36.73. AT&T has a 1 year low of $28.92 and a 1 year high of $39.70. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.74 and a quick ratio of 0.74. The company has a market capitalization of $278.25 billion, a price-to-earnings ratio of 10.82, a P/E/G ratio of 2.40 and a beta of 0.62.

AT&T (NYSE:T) last posted its quarterly earnings results on Monday, October 28th. The technology company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.01. AT&T had a return on equity of 13.42% and a net margin of 8.97%. The business had revenue of $44.59 billion for the quarter, compared to the consensus estimate of $45.45 billion. During the same period in the prior year, the business earned $0.90 EPS. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. Analysts anticipate that AT&T will post 3.56 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Thursday, January 9th. This is an increase from AT&T’s previous quarterly dividend of $0.51. This represents a $2.08 annualized dividend and a dividend yield of 5.46%. AT&T’s dividend payout ratio is 59.09%.

Institutional investors have recently modified their holdings of the company. Kanawha Capital Management LLC increased its position in shares of AT&T by 3.7% during the second quarter. Kanawha Capital Management LLC now owns 227,614 shares of the technology company’s stock valued at $7,627,000 after acquiring an additional 8,105 shares during the last quarter. Pictet Asset Management Ltd. increased its position in shares of AT&T by 8.5% during the second quarter. Pictet Asset Management Ltd. now owns 8,365,879 shares of the technology company’s stock valued at $280,341,000 after acquiring an additional 653,885 shares during the last quarter. Bernardo Wealth Planning LLC increased its position in shares of AT&T by 2.1% during the second quarter. Bernardo Wealth Planning LLC now owns 21,801 shares of the technology company’s stock valued at $731,000 after acquiring an additional 441 shares during the last quarter. Marietta Wealth Management LLC increased its position in shares of AT&T by 23.3% during the second quarter. Marietta Wealth Management LLC now owns 13,860 shares of the technology company’s stock valued at $464,000 after acquiring an additional 2,620 shares during the last quarter. Finally, SRB Corp purchased a new stake in shares of AT&T during the second quarter valued at approximately $496,000. 53.60% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have recently commented on the company. Raymond James reissued a “buy” rating and set a $45.00 price target (up previously from $40.00) on shares of AT&T in a report on Tuesday, October 29th. UBS Group boosted their price target on AT&T from $38.00 to $42.00 and gave the stock a “buy” rating in a report on Monday, November 4th. HSBC cut AT&T from a “buy” rating to a “hold” rating and set a $42.00 price target for the company. in a report on Thursday, November 14th. Sanford C. Bernstein assumed coverage on AT&T in a report on Tuesday, October 15th. They set a “market perform” rating and a $36.00 price target for the company. Finally, Moffett Nathanson cut AT&T from a “neutral” rating to a “sell” rating and set a $30.00 price target for the company. in a report on Tuesday, November 19th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $39.22.

About AT&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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