This morning we watched AT&T drop -1.0% to a price of $15.39 per share. The large-cap Communication Equipment company is now trading -17.14% below its average target price of $18.58. Analysts have set target prices ranging from $8.0 to $25.0 per share for AT&T, and have given the stock an average rating of hold.
The stock has a very low short interest at 1.6%, and a short ratio of 3.21. At 0.09%, the company's rate of insider ownership does not indicate that management is heavily invested in the corporation. Finally, we also note that an average number of institutional investors are invested in the stock, with 56.7% of AT&T's shares being owned by this investor type.
Institutions Invested in AT&T
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2023-06-30 | Vanguard Group Inc | 9% | 620,297,447 | $9,549,479,480 |
| 2023-06-30 | Blackrock Inc. | 7% | 534,767,576 | $8,232,747,077 |
| 2023-06-30 | State Street Corporation | 4% | 297,085,864 | $4,573,637,012 |
| 2023-06-30 | Newport Trust Company, LLC | 3% | 199,324,997 | $3,068,608,420 |
| 2023-06-30 | Geode Capital Management, LLC | 2% | 138,173,010 | $2,127,173,552 |
| 2023-06-30 | Morgan Stanley | 1% | 97,115,959 | $1,495,100,233 |
| 2023-06-30 | Northern Trust Corporation | 1% | 73,330,117 | $1,128,917,184 |
| 2022-12-31 | Norges Bank Investment Management | 1% | 66,784,322 | $1,028,144,667 |
| 2023-06-30 | Bank Of New York Mellon Corporation | 1% | 59,935,951 | $922,713,993 |
| 2023-06-30 | Legal & General Group PLC | 1% | 52,086,587 | $801,873,030 |
Besides an analyst consensus of some upside potential, other market factors point to there being mixed market sentiment on AT&T.
