This afternoon we watched AT&T drop -3.2% to a price of $14.3 per share. The large-cap Communication Equipment company is now trading -21.73% below its average target price of $18.27. 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.
AT&T's short interest — meaning the percentage of the share float that is being shorted — is lower than average at 1.6%. The stock's short ratio is 3.25. At 0.09%, the company's rate of insider ownership does not indicate that management is heavily invested in the corporation.
Another number to watch is the company's rate of institutional share ownership, which now stands at 56.7%. In conclusion, we believe there is mixed market sentiment regarding AT&T.
Institutions Invested in AT&T
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2023-06-30 | Vanguard Group Inc | 9% | 620,297,447 | $8,870,191,496 |
| 2023-06-30 | Blackrock Inc. | 7% | 534,767,576 | $7,647,122,889 |
| 2023-06-30 | State Street Corporation | 4% | 297,085,864 | $4,248,298,162 |
| 2023-06-30 | Newport Trust Company, LLC | 3% | 199,324,997 | $2,850,327,535 |
| 2023-06-30 | Geode Capital Management, LLC | 2% | 138,173,010 | $1,975,860,233 |
| 2023-06-30 | Morgan Stanley | 1% | 97,115,959 | $1,388,748,507 |
| 2023-06-30 | Northern Trust Corporation | 1% | 73,330,117 | $1,048,613,344 |
| 2022-12-31 | Norges Bank Investment Management | 1% | 66,784,322 | $955,009,129 |
| 2023-06-30 | Bank Of New York Mellon Corporation | 1% | 59,935,951 | $857,078,108 |
| 2023-06-30 | Legal & General Group PLC | 1% | 52,086,587 | $744,832,988 |
