AT&T Target of Unusually Large Options Trading (NYSE:T)

AT&T Inc. (NYSE:T) saw unusually large options trading activity on Thursday. Stock traders acquired 620,989 call options on the stock. This is an increase of approximately 190% compared to the average daily volume of 214,134 call options.

Shares of NYSE T traded up $1.41 during midday trading on Thursday, reaching $31.52. The company’s stock had a trading volume of 2,900,949 shares, compared to its average volume of 42,781,926. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.78. The company has a 50 day moving average price of $29.97 and a 200 day moving average price of $29.02. AT&T has a one year low of $26.35 and a one year high of $33.24. The company has a market cap of $224.79 billion, a price-to-earnings ratio of 20.95, a price-to-earnings-growth ratio of 3.04 and a beta of 0.70.

AT&T (NYSE:T) last released its quarterly earnings results on Tuesday, January 26th. The technology company reported $0.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.02. AT&T had a net margin of 6.42% and a return on equity of 12.27%. The business had revenue of $45.70 billion for the quarter, compared to analyst estimates of $44.58 billion. During the same quarter in the previous year, the business earned $0.89 earnings per share. The firm’s revenue was down 2.4% compared to the same quarter last year. Research analysts anticipate that AT&T will post 3.17 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, May 3rd. Stockholders of record on Friday, April 9th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, April 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 6.60%. AT&T’s dividend payout ratio is currently 58.26%.

Several research firms have recently weighed in on T. Deutsche Bank Aktiengesellschaft dropped their target price on shares of AT&T from $36.00 to $31.00 in a research report on Monday, February 8th. Raymond James reaffirmed a “buy” rating on shares of AT&T in a report on Monday, March 15th. Credit Suisse Group decreased their price target on shares of AT&T from $31.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, January 19th. CIBC reaffirmed a “buy” rating on shares of AT&T in a report on Wednesday, February 10th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of AT&T in a report on Wednesday, March 3rd. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $31.82.

Several hedge funds have recently added to or reduced their stakes in the company. Westside Investment Management Inc. boosted its holdings in shares of AT&T by 32.7% during the 4th quarter. Westside Investment Management Inc. now owns 25,879 shares of the technology company’s stock worth $267,944,000 after buying an additional 6,382 shares during the period. Seelaus Asset Management LLC grew its holdings in AT&T by 106.3% during the 4th quarter. Seelaus Asset Management LLC now owns 39,241 shares of the technology company’s stock worth $1,129,000 after acquiring an additional 20,216 shares during the last quarter. Illinois Municipal Retirement Fund boosted its stake in shares of AT&T by 50.1% in the 4th quarter. Illinois Municipal Retirement Fund now owns 132,087 shares of the technology company’s stock valued at $3,799,000 after purchasing an additional 44,059 shares during the last quarter. Cibc World Markets Corp raised its position in shares of AT&T by 31.5% in the 4th quarter. Cibc World Markets Corp now owns 2,379,426 shares of the technology company’s stock valued at $68,432,000 after acquiring an additional 570,162 shares during the period. Finally, Financial Advocates Investment Management raised its holdings in AT&T by 47.5% during the 4th quarter. Financial Advocates Investment Management now owns 198,256 shares of the technology company’s stock worth $5,702,000 after buying an additional 63,812 shares during the period. Institutional investors and hedge funds own 51.17% of the company’s stock.

AT&T Company Profile

AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through Communications, WarnerMedia, and Latin America segments. The Communications segment offers wireless voice and data communications services; video and targeted advertising services; broadband, including fiber, and legacy telephony internet and voice communication; and wireline telecom services.

Further Reading: What Is Dividend Yield and How Do You Calculate It?

Receive News & Ratings for AT&T Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AT&T and related companies with MarketBeat.com's FREE daily email newsletter.