Investors Sell AT&T Inc. (T) on Strength (T)
Investors sold shares of AT&T Inc. (NYSE:T) on strength during trading on Wednesday. $125.29 million flowed into the stock on the tick-up and $189.38 million flowed out of the stock on the tick-down, for a money net flow of $64.09 million out of the stock. Of all stocks tracked, AT&T had the 16th highest net out-flow for the day. AT&T traded up $0.05 for the day and closed at $38.77
Several equities research analysts recently weighed in on the stock. Vetr cut shares of AT&T from a “strong-buy” rating to a “buy” rating and set a $42.75 price objective for the company. in a research report on Tuesday. Morgan Stanley upped their price objective on shares of AT&T from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Wednesday. BidaskClub raised shares of AT&T from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. ValuEngine cut shares of AT&T from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Drexel Hamilton reaffirmed a “hold” rating on shares of AT&T in a research report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, nineteen have given a hold rating and eleven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $43.81.
The company’s 50 day moving average is $37.58 and its 200 day moving average is $38.81. The company has a market cap of $238.05 billion, a price-to-earnings ratio of 18.22 and a beta of 0.49.
AT&T (NYSE:T) last announced its quarterly earnings results on Tuesday, July 25th. The technology company reported $0.79 EPS for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.05. The business had revenue of $39.84 billion for the quarter, compared to analysts’ expectations of $39.84 billion. AT&T had a return on equity of 14.53% and a net margin of 8.12%. The business’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.72 EPS. On average, equities analysts predict that AT&T Inc. will post $2.94 EPS for the current fiscal year.
A number of institutional investors have recently made changes to their positions in the business. Vantage Financial Partners Ltd. Inc. purchased a new position in shares of AT&T during the second quarter valued at approximately $314,000. Ullmann Financial Group Inc. purchased a new position in shares of AT&T during the first quarter valued at approximately $101,000. Feltz Wealth PLAN Inc. purchased a new position in shares of AT&T during the first quarter valued at approximately $104,000. Taylor Wealth Management Partners increased its stake in shares of AT&T by 0.4% during the first quarter. Taylor Wealth Management Partners now owns 2,550 shares of the technology company’s stock valued at $106,000 after buying an additional 11 shares during the period. Finally, Almanack Investment Partners LLC. purchased a new position in shares of AT&T during the first quarter valued at approximately $109,000. 54.99% of the stock is currently owned by institutional investors and hedge funds.
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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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