Why Are People Buying T Shares?

This evening we watched AT&T rise 3.4% to a price of $17.22 per share. The large-cap Communication Equipment company is now trading -6.0% below its average target price of $18.32. Analysts have set target prices ranging from $8.0 to $28.0 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 1.5%. The stock's short ratio is 2.68. 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
2023-09-30 Vanguard Group Inc 9% 620,251,227 $10,680,725,703
2023-09-30 Blackrock Inc. 7% 534,917,317 $9,211,275,831
2023-09-30 State Street Corporation 4% 296,387,296 $5,103,789,033
2023-09-30 Newport Trust Company, LLC 3% 199,998,040 $3,443,966,111
2023-09-30 Geode Capital Management, LLC 2% 142,132,169 $2,447,515,852
2023-09-30 Morgan Stanley 1% 93,038,412 $1,602,121,390
2023-09-30 Northern Trust Corporation 1% 75,158,354 $1,294,226,804
2022-12-31 Norges Bank Investment Management 1% 66,784,322 $1,150,025,978
2023-09-30 Bank Of New York Mellon Corporation 1% 60,270,173 $1,037,852,337
2023-09-30 Bank of America Corporation 1% 58,188,240 $1,002,001,452
The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.