Stock traders buy large volume of AT&T put options (NYSE:T)


AT&T Inc. (NYSE:T – Get Rating) saw unusually large options trades on Friday. Investors bought 142,485 put options on the stock. This represents an increase of approximately 26% from the average volume of 113,288 puts.

AT&T Institutional Trading

Several hedge funds have recently changed their positions in T. Victory Capital Management Inc. increased its stake in AT&T shares by 16.2% during the fourth quarter. Victory Capital Management Inc. now owns 3,822,788 shares of the technology company valued at $94,041,000 after buying an additional 533,468 shares last quarter. Bailard Inc. increased its stake in AT&T shares by 19.1% in the first quarter. Bailard Inc. now owns 12,407 shares of the tech company worth $293,000 after buying an additional 1,994 shares in the last quarter. CAPROCK Group Inc. increased its holdings of AT&T stock by 55.2% in the first quarter. CAPROCK Group Inc. now owns 51,579 shares of the technology company worth $1,219,000 after purchasing an additional 18,347 shares in the last quarter. Bank Julius Baer & Co. AG Zurich increased its stake in AT&T shares by 8.7% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 464,835 shares of the technology company worth $11,435,000 after buying 37,205 additional shares in the last quarter. Finally, Wealthcare Advisory Partners LLC increased its holding in AT&T shares by 1.7% in the first quarter. Wealthcare Advisory Partners LLC now owns 67,128 shares of the technology company worth $1,586,000 after buying 1,152 additional shares in the last quarter. 53.47% of the shares are currently held by hedge funds and other institutional investors.

Analysts set new price targets

Several equity analysts weighed in on T shares. Wolfe Research cut its target price on AT&T from $27.00 to $22.00 and set a “peer performance” rating on the stock in a research note Thursday, June 2. StockNews.com upgraded AT&T from a “hold” rating to a “buy” rating in a Monday, Aug. 8 report. Deutsche Bank Aktiengesellschaft lowered its price target on AT&T from $24.00 to $22.00 in a Friday, July 22 report. Truist Financial lowered its price target on AT&T to $21.00 in a Friday, July 22 report. Finally, Wells Fargo & Company lowered its price target on AT&T to $22.00 in a Friday, July 22 report. Eleven equity research analysts gave the stock a hold rating and eight gave the company a buy rating. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $23.78.

AT&T Price Performance

Shares of T opened at $18.43 on Friday. The company has a market capitalization of $131.33 billion, a PE ratio of 6.78, a P/E/G ratio of 1.99 and a beta of 0.47. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt ratio of 0.96. The company has a fifty-day simple moving average of $19.55 and a two-hundred-day simple moving average of $21.15. AT&T has a 1-year low of $16.62 and a 1-year high of $21.53.

AT&T (NYSE:T – Get Rating) last released quarterly earnings data on Thursday, July 21. The technology company reported earnings per share (EPS) of $0.65 for the quarter, beating consensus analyst estimates of $0.61 by $0.04. The company posted revenue of $29.64 billion in the quarter, versus a consensus estimate of $29.48 billion. AT&T had a net margin of 13.41% and a return on equity of 13.11%. The company’s revenue for the quarter decreased 17.1% compared to the same quarter last year. In the same quarter a year earlier, the company posted EPS of $0.89. On average, stock analysts expect AT&T to post EPS of 2.51 for the current year.

AT&T cuts dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 1. Shareholders of record on Monday, July 11 received a dividend of $0.2775 per share. This represents an annualized dividend of $1.11 and a dividend yield of 6.02%. The ex-dividend date was Friday, July 8. AT&T’s dividend payout ratio is 40.81%.

AT&T Company Profile

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AT&T Inc provides telecommunications, media and technology services worldwide. Its Communications segment offers wireless voice and data communication services; and sells handsets, wireless data cards, wireless computing devices, carrying cases and hands-free devices through its own stores, agents and third-party retail stores.

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