Traders Purchase High Volume of Call Options on AT&T (NYSE:T)

AT&T Inc. (NYSE:T) was the target of some unusual options trading on Monday. Investors bought 86,584 call options on the stock. This represents an increase of 44% compared to the average volume of 60,173 call options.

AT&T Stock Down 4.0 %

Shares of NYSE T traded down $0.95 during midday trading on Monday, reaching $22.68. 30,432,763 shares of the company’s stock were exchanged, compared to its average volume of 35,495,543. The stock has a market capitalization of $162.74 billion, a PE ratio of 18.76, a price-to-earnings-growth ratio of 3.60 and a beta of 0.59. The business’s fifty day moving average price is $22.50 and its two-hundred day moving average price is $20.60. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. AT&T has a 52-week low of $15.94 and a 52-week high of $24.03.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. During the same quarter in the prior year, the business posted $0.64 earnings per share. The company’s revenue for the quarter was down .5% compared to the same quarter last year. Analysts forecast that AT&T will post 2.19 EPS for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be given a dividend of $0.2775 per share. The ex-dividend date is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.89%. AT&T’s dividend payout ratio (DPR) is 90.24%.

Analyst Upgrades and Downgrades

T has been the subject of a number of research reports. Redburn Atlantic upgraded AT&T to a “strong sell” rating in a research report on Monday, September 16th. Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Wells Fargo & Company cut their price objective on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Oppenheimer assumed coverage on AT&T in a research report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 target price on the stock. Finally, Evercore ISI raised their price target on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $25.18.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in T. Legacy Wealth Management LLC MS purchased a new stake in shares of AT&T during the third quarter valued at $1,042,000. Alternative Investment Advisors LLC. acquired a new position in shares of AT&T in the 3rd quarter valued at $217,000. Inspire Trust Co. N.A. raised its stake in shares of AT&T by 19.7% in the 3rd quarter. Inspire Trust Co. N.A. now owns 140,000 shares of the technology company’s stock valued at $3,080,000 after buying an additional 23,000 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of AT&T by 41.4% in the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock worth $168,969,000 after purchasing an additional 2,326,904 shares during the last quarter. Finally, Tidal Investments LLC grew its position in AT&T by 1.7% during the 3rd quarter. Tidal Investments LLC now owns 640,725 shares of the technology company’s stock worth $14,096,000 after acquiring an additional 10,954 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

About AT&T

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.