AT&T Inc. (T) Short Interest Up 8.1% in October

AT&T Inc. (NYSE:T) saw a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 68,936,923 shares, a growth of 8.1% from the October 15th total of 63,756,658 shares. Currently, 0.9% of the shares of the stock are short sold. Based on an average trading volume of 51,419,559 shares, the short-interest ratio is currently 1.3 days.

T has been the subject of a number of research analyst reports. Zacks Investment Research upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a research report on Tuesday, July 17th. Scotiabank set a $33.00 price objective on shares of AT&T and gave the stock a “hold” rating in a research report on Monday, July 23rd. Bank of America upgraded shares of AT&T from a “neutral” rating to a “buy” rating and set a $37.00 price objective for the company in a research report on Monday, July 30th. They noted that the move was a valuation call. Wells Fargo & Co cut shares of AT&T from an “outperform” rating to a “market perform” rating and set a $40.00 price objective for the company. in a research report on Wednesday, August 22nd. Finally, Macquarie restated a “buy” rating and set a $35.00 price objective on shares of AT&T in a research report on Wednesday, September 12th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. AT&T has a consensus rating of “Hold” and an average price target of $36.59.

AT&T stock opened at $30.69 on Friday. AT&T has a 52-week low of $28.85 and a 52-week high of $39.33. The firm has a market cap of $190.92 billion, a PE ratio of 10.06, a price-to-earnings-growth ratio of 2.48 and a beta of 0.42. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.91.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 24th. The technology company reported $0.90 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.94 by ($0.04). AT&T had a return on equity of 13.61% and a net margin of 20.40%. The business had revenue of $45.74 billion for the quarter, compared to analysts’ expectations of $45.73 billion. During the same period in the previous year, the company earned $0.74 EPS. AT&T’s quarterly revenue was up 15.3% compared to the same quarter last year. Equities research analysts anticipate that AT&T will post 3.51 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 1st. Investors of record on Wednesday, October 10th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.52%. The ex-dividend date was Tuesday, October 9th. AT&T’s dividend payout ratio is currently 65.57%.

In related news, Director Michael B. Mccallister acquired 4,000 shares of AT&T stock in a transaction on Friday, October 26th. The stock was bought at an average cost of $29.14 per share, for a total transaction of $116,560.00. Following the completion of the transaction, the director now owns 7,361 shares of the company’s stock, valued at approximately $214,499.54. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. lifted its position in AT&T by 2.8% in the first quarter. BlackRock Inc. now owns 387,352,856 shares of the technology company’s stock valued at $13,809,130,000 after buying an additional 10,535,763 shares during the last quarter. Newport Trust Co lifted its position in AT&T by 1.5% in the second quarter. Newport Trust Co now owns 204,091,273 shares of the technology company’s stock valued at $6,553,371,000 after buying an additional 3,055,174 shares during the last quarter. Northern Trust Corp lifted its position in AT&T by 13.7% in the second quarter. Northern Trust Corp now owns 83,934,430 shares of the technology company’s stock valued at $2,695,135,000 after buying an additional 10,082,798 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in AT&T by 17.0% in the second quarter. Dimensional Fund Advisors LP now owns 82,556,205 shares of the technology company’s stock valued at $2,650,940,000 after buying an additional 11,990,755 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in AT&T by 1.0% in the third quarter. Bank of New York Mellon Corp now owns 73,430,336 shares of the technology company’s stock valued at $2,465,790,000 after buying an additional 705,902 shares during the last quarter. 64.81% of the stock is owned by hedge funds and other institutional investors.

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About AT&T

AT&T Inc provides communications and digital entertainment services. The company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility, and International. The Business Solutions segment offers wireless services, strategic services, legacy voice, data services, wireless equipment, and other services to multinational companies, governmental and wholesale customers, and individual subscribers.

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