While this happened, Scotiabank upgraded its AT&T, Inc. [T] rating to a Sector outperform from a a Sector perform in a research note published on Tuesday. PT values the company’s stock at a premium of 16.05 to its Tuesday closing price.
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Price Performance Review of T
On Tuesday, AT&T, Inc. [NYSE:T] saw its stock jump 3.88% to $15.53. On the same session, the stock had its day’s lowest price of $15.18, but rose to a high of $15.57. Over the last five days, the stock has gained 6.52%. AT&T, Inc. shares have fallen nearly -15.64% since the year began. Nevertheless, the stocks have fallen -9.18% over the past one year. While a 52-week high of $20.50 was reached on 02/01/23, a 52-week low of $13.43 was recorded on 07/18/23. SMA at 50 days reached $14.69, while 200 days put it at $16.69. A total of 66.4 million shares were traded, compared to the trading of 53.94 million shares in the previous session.
Levels Of Support And Resistance For T Stock
The 24-hour chart illustrates a support level at 15.28, which if violated will result in even more drops to 15.04. On the upside, there is a resistance level at 15.67. A further resistance level may holdings at 15.82. The Relative Strength Index (RSI) on the 14-day chart is 60.02, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.50, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 21.23%. Stochastics %K at 65.18% indicates the stock is a holding.
How much short interest is there in AT&T, Inc.?
A steep rise in short interest was recorded in AT&T, Inc. stocks on Oct 12, 2023, dropping by -9.65 million shares to a total of 107.5 million shares. Yahoo Finance data shows the prior-month short interest on Sep 14, 2023 was 117.15 million shares. There was a decline of -8.98%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.50% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.87.
AT&T, Inc. [T] – Who Are The Largest Shareholders?
In filings from The Vanguard Group, Inc., it is revealed that the company now owns 589,645,617 shares, or roughly 8.25% of the outstanding T shares. In other words, the investor’s shares have risen by 5,721,074 from its previous 13-F filing of 583924543.0. Additionally, BlackRock Fund Advisors increased 2.79% of its stake after which the total value it holdings stand at $5,329,213,291, while SSgA Funds Management, Inc. added 3.40% of its stake to hold $4.46 billion in the firm. Over the last quarter, Newport Trust Co. purchased 2,671,452 shares of AT&T, Inc., while Geode Capital Management LLC bought 3,785,896 shares. At present, Norges Bank Investment Management is holding 66,784,322 shares valued at $1.0 billion. Northern Trust Investments, Inc. owned 65,326,558 shares of the company at the time of its most recent 13F filing, worth $981.2 million.
According to FactSet, AT&T, Inc.’s share price will average $17.72 in the next year, based on opinions of analysts polled by the firm. This is up nearly 20.4 percent from its previous closing price of $14.95. Analysts expect AT&T, Inc. stock to reach the higher price of $25.00, while the lowest price estimate is $8.00. However, 27 analysts have rated T stock as an Overweight in their predictions for 2023.
