On Friday, AT&T Inc. (NYSE:T) made some unusual options trades. As a result, shareholders acquired 120,296 stock options for the company. This represents a 17% increase from the daily trading volume of 103,044 call options on average.
T has been covered in a variety of scholarly books. In a research note released Friday, Truist Financial changed its recommendation for AT&T from “hold” to “buy” in a research note, setting a target price of $21.00 for the stock. StockNews.com changed its valuation of AT&T in research released Thursday from “buy” to “hold.” Raymond James reiterated his “outperform” rating and set a target price of $26.00 on AT&T stock on Thursday July 7th. Wells Fargo & Stock cut its price target for AT&T from $22.00 to $17.00 and listed the stock as “equal weight” in a search. note published on Friday, October 7.
Last but not least, Moffett Nathanson cut his price target on AT&T from $19.00 to $17.00 and categorized the company as “market performance” in a study released Thursday, August 18. Ten stock analysts recommended holding the stock, while eight recommended buying the company’s stock. According to Bloomberg stats, the stock now has an average “Hold” rating with a price target of $22.67.
Institutional investors, especially hedge funds, have recently changed the number of stocks they hold. The Vanguard Group Inc. increased its stake in AT&T by 2.3% during the first quarter. Vanguard Group Inc. currently owns an additional 585,666,367 shares, or 13,066,523 additional shares, of the technology company, for a total market value of $13,839,297,000. BlackRock Inc. increased its stake in AT&T shares by 1.1% during the first quarter. BlackRock Inc. now owns 521,448,502 shares of the technology company valued at $12,321,826,000, an increase of 5,777,961 shares. Newport Trust Co. increased its stake in AT&T by 0.9% during the second quarter. Newport Trust Co now owns 4,176,860,000 shares of the technology company, valued at 1,851,506 additional shares at 199,277,658. Northern Trust Corp. increased its stake in AT&T by 1.3% in the second quarter. Northern Trust Corp. now owns 76,189,792 shares of technology companies worth $1,596,938,000 after acquiring an additional 950,450 shares in the last quarter. Finally, Capital World Investors increased its stake in AT&T by 18.5% during the first quarter. Capital World Investors now owns 55,989,998 shares of the technology company, valued at $1,323,044,000, representing an increase of 8,729,013 shares. Institutional investors and hedge funds hold 52.88% of the company’s shares.
T’s stock price rose $0.25 during Friday’s lunch hour, hitting $16.99. The number of shares traded was above the daily average of 48,065,260 by 2,547,206. In the prior year, AT&T’s high and low prices were $21.53 and $14, respectively. $.46. The P/E and PEG ratios are 6.15 and 1.83 respectively, and the market capitalization is $121.07 billion. The beta is 0.52. The company’s quick ratio is 0.64, the current ratio is 0.70, and the equity debt is 0.96. The company’s 50-day moving average is $16.67 and its 200-day moving average is $18.93.
The latest results from AT&T (NYSE:T) were released on October 20.
The IT company’s earnings per share (EPS) of $0.68 for the quarter beat analysts’ average projection of $0.61 by $0.07. by investigation. The company’s quarterly sales were $30.04 billion, higher than experts’ forecast of $29.86 billion. AT&T had a net margin of 13.41% and a return on equity of 13.11%, respectively. The company’s revenue fell 4.1% compared to the comparable period of 2016. During the same period last year, the company reported EPS of $0.87. Research analysts expect AT&T to report earnings per share of 2.54 for the current year.
The company also just disclosed a quarterly dividend paid on November 1. On Monday, October 10, dividends of $0.2775 will be paid to registered shareholders. This yield is 6.53% and an annual dividend value of $1.11. The ex-dividend date is Thursday, October 6. AT&T’s payout percentage is 40.81%.