Investors 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 Wednesday. Investors purchased 1,911,264 call options on the company. This represents an increase of approximately 4,435% compared to the typical volume of 42,142 call options.

T has been the subject of several research analyst reports. UBS Group lifted their price objective on AT&T from $38.00 to $42.00 and gave the stock a “buy” rating in a report on Monday, November 4th. ValuEngine raised AT&T from a “strong sell” rating to a “sell” rating in a report on Monday, December 16th. HSBC lowered AT&T from a “buy” rating to a “hold” rating and set a $42.00 price target for the company. in a report on Thursday, November 14th. JPMorgan Chase & Co. boosted their price target on AT&T from $39.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Finally, DZ Bank reissued a “hold” rating and set a $38.00 price target on shares of AT&T in a report on Wednesday, September 18th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $39.22.

Hedge funds have recently bought and sold shares of the stock. Old Port Advisors grew its stake in shares of AT&T by 0.6% during the fourth quarter. Old Port Advisors now owns 45,402 shares of the technology company’s stock worth $1,775,000 after purchasing an additional 261 shares in the last quarter. Summit Financial Group Inc. lifted its position in AT&T by 0.5% in the fourth quarter. Summit Financial Group Inc. now owns 53,336 shares of the technology company’s stock valued at $2,085,000 after acquiring an additional 291 shares during the last quarter. Larson Financial Group LLC lifted its position in AT&T by 2.7% in the fourth quarter. Larson Financial Group LLC now owns 11,157 shares of the technology company’s stock valued at $436,000 after acquiring an additional 293 shares during the last quarter. D.B. Root & Company LLC lifted its position in AT&T by 0.9% in the third quarter. D.B. Root & Company LLC now owns 34,925 shares of the technology company’s stock valued at $1,321,000 after acquiring an additional 303 shares during the last quarter. Finally, Donald L. Hagan LLC lifted its position in AT&T by 1.5% in the third quarter. Donald L. Hagan LLC now owns 20,988 shares of the technology company’s stock valued at $793,000 after acquiring an additional 304 shares during the last quarter. Institutional investors own 53.60% of the company’s stock.

AT&T stock traded down $0.04 during mid-day trading on Thursday, reaching $37.83. 2,030,216 shares of the company were exchanged, compared to its average volume of 25,431,740. AT&T has a 12-month low of $28.92 and a 12-month high of $39.70. The business has a fifty day moving average of $38.53 and a 200 day moving average of $36.76. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.74 and a current ratio of 0.74. The firm has a market cap of $276.64 billion, a P/E ratio of 10.75, a PEG ratio of 2.37 and a beta of 0.62.

AT&T (NYSE:T) last issued its earnings results on Monday, October 28th. The technology company reported $0.94 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.01. The company had revenue of $44.59 billion during the quarter, compared to analyst estimates of $45.45 billion. AT&T had a return on equity of 13.42% and a net margin of 8.97%. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter last year, the business posted $0.90 EPS. Sell-side analysts predict that AT&T will post 3.56 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, January 9th. This is a boost from AT&T’s previous quarterly dividend of $0.51. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.50%. AT&T’s dividend payout ratio (DPR) is 59.09%.

About AT&T

AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.

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