Rep. James Comer Buys AT&T Inc. (NYSE:T) Shares

Representative James Comer (R-Kentucky) recently bought shares of AT&T Inc. (NYSE:T). In a filing disclosed on January 10th, the Representative disclosed that they had bought between $1,001 and $15,000 in AT&T stock on January 2nd.

Representative James Comer also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Arista Networks (NYSE:ANET) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of Dover (NYSE:DOV) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of PayPal (NASDAQ:PYPL) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of NVIDIA (NASDAQ:NVDA) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of Uber Technologies (NYSE:UBER) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of Broadcom (NASDAQ:AVGO) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of Home Depot (NYSE:HD) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of Amphenol (NYSE:APH) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of Apple (NASDAQ:AAPL) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of Amazon.com (NASDAQ:AMZN) on 1/2/2025.

AT&T Stock Performance

Shares of AT&T stock opened at $21.80 on Wednesday. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $24.03. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The business has a 50-day moving average price of $22.80 and a two-hundred day moving average price of $21.28. The company has a market cap of $156.42 billion, a P/E ratio of 17.72, a PEG ratio of 3.60 and a beta of 0.59.

AT&T (NYSE:T) last issued its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.03. The business had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. AT&T’s revenue was down .5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 earnings per share. As a group, analysts anticipate that AT&T Inc. will post 2.19 EPS for the current year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be issued a dividend of $0.2775 per share. The ex-dividend date is Friday, January 10th. This represents a $1.11 annualized dividend and a yield of 5.09%. AT&T’s payout ratio is 90.24%.

Institutional Investors Weigh In On AT&T

Several hedge funds have recently added to or reduced their stakes in T. Strategic Financial Concepts LLC raised its position in AT&T by 227.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after purchasing an additional 91,578 shares during the period. Legacy Investment Solutions LLC bought a new position in shares of AT&T during the third quarter valued at approximately $25,000. Ritter Daniher Financial Advisory LLC DE boosted its holdings in AT&T by 169.2% in the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after acquiring an additional 841 shares in the last quarter. Altshuler Shaham Ltd purchased a new position in AT&T during the 2nd quarter valued at $30,000. Finally, Reston Wealth Management LLC purchased a new stake in shares of AT&T in the 3rd quarter worth about $35,000. Institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on T shares. Wells Fargo & Company decreased their target price on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. UBS Group lifted their price objective on shares of AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. The Goldman Sachs Group boosted their price target on shares of AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Oppenheimer assumed coverage on AT&T in a report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price target on the stock. Finally, Sanford C. Bernstein assumed coverage on shares of AT&T in a report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price target on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $25.76.

About Representative Comer

James Comer Jr. (Republican Party) is a member of the U.S. House, representing Kentucky’s 1st Congressional District. He assumed office on November 14, 2016. His current term ends on January 3, 2025. Comer (Republican Party) ran for re-election to the U.S. House to represent Kentucky’s 1st Congressional District. He won in the general election on November 8, 2022. Prior to serving in Congress, Comer was the Kentucky Commissioner of Agriculture from 2012 to 2016, and the Kentucky House of Representatives from 2001 to 2012. He also unsuccessfully ran for Governor of Kentucky in 2015. A writer for the Louisville Courier-Journal called Comer “instrumental in the final passage of a five-year farm bill,” noting that he served on the conference committee that produced the final version of the bill. Comer is from Tompkinsville, Ky. He acted as the director of South Central Bank for 12 years and has been the co-owner of the Comer Land and Cattle Company. He previously served as president of CFB Foods Incorporated from 2001 to 2003 and president of Comer and Polston Insurance Incorporated from 1993 to 1995.

AT&T Company Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.