AT&T Inc. (NYSE:T) shares are trading up slightly this afternoon, as the company today has announced plans to expand the availability of its ultra-fast GigaPower internet speeds to small business and homes in 38 new metros around the U.S. The addition of these metros brings the total number served up to 56, and today is available in 20 of the nations biggest metropolitan areas, including West Palm Beach and Los Angeles.
AT&T Inc. (NYSE:T) recently received good marks for its mobile service from Consumer Reports, but it might just be its in-home service that sends the company’s shares soaring in the near future.
“Customer demand for AT&T GigaPower and sales have exceeded expectations since launching speeds up to 1 gigabit per second in Austin,” said Brad Bentley, executive vice president and chief marketing officer, AT&T Entertainment Group. “The faster speeds offered through AT&T GigaPower keep consumers and small businesses connected as they are accessing more content on more devices. This improves a customer’s experience when they are connecting to the cloud, hosting a videoconference, streaming videos and music, playing online games and more.”
So how fast is GigaPower? Well AT&T Inc. (NYSE:T) says that you can download up to 25 songs in less than a second, an entire TV show in just about 3 seconds, and an HD movie in less than 36 seconds. Not bad for in-home internet.
The stock is up 0.56% or $0.19 following the news, hitting $34.3 per share. About 18.77M shares traded hands. T has declined 1.22% since May 4, 2015 and is downtrending. It has underperformed the S&P500 by 0.14%.
From a total of 9 analysts covering AT&T Inc. (NYSE:T) stock, 5 rate it a “Buy”, 0 a “Sell”, and 4 a “Hold”. This means that 56% of the ratings are positive. The highest target price is $47 while the lowest target price is $35. The mean of all analyst targets is $38.67 which is 12.74% above today’s ($34.3) stock price. AT&T Inc. was the topic of 12 analyst reports since July 27, 2015 according to the firm StockzIntelligence Inc. Oppenheimer maintained shares on September 5 with a “Outperform” rating. Macquarie Research maintained T stock in a recent report from September 1 with a “Buy” rating. Finally, FBR Capital maintained the stock with a “Mkt Perform” rating in a report they issued on a July 24.
The institutional sentiment decreased to 0.9 in Q2 2015. It’s down 0.25, from 1.15 in 2015Q1. The ratio dropped, as 87 funds sold all their AT&T Inc. shares they owned while 719 reduced their positions. 128 funds bought stakes while 594 increased their total positions. Institutions now own 2.75 billion shares which is 2.07% less than the previous share count of 2.80 billion in 2015Q1.
Evercore Trust Company N.A. holds 25.74% of its total portfolio in AT&T Inc., equating to 203.74 million shares. Mediatel Partners owns 935,304 shares representing 15.95% of their total US portfolio. Moreover, American Investment Services Inc. has 9.04% of their total portfolio invested in the company, equating to 476,812 shares. The Massachusetts-based Barry Investment Advisors Llc has a total of 8.38% of their portfolio invested in the stock. Excalibur Management Corp, a Massachusetts-based fund reported 211,884 shares owned.
AT&T Inc. is a holding company. The Company provides telecommunications services. The company has a market cap of $210.70 billion. The Company’s services and products include wireless communications, data/broadband and Internet services, video services, local exchange services, long-distance services, telecommunications equipment, managed networking and wholesale services. It has 40.05 P/E ratio. The Company’s divisions include Wireless, Wireline and International.