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AT&T Inc. (T)

NYSE - Nasdaq Real-time price. Currency in USD
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29.62+0.70 (+2.42%)
At close: 4:03PM EST

29.60 -0.02 (-0.07%)
After hours: 6:34PM EST

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Trade prices are not sourced from all markets
Previous close28.92
Open29.01
Bid29.60 x 21500
Ask29.61 x 45100
Day's range28.99 - 29.74
52-week range26.08 - 37.25
Volume53,348,066
Avg. volume45,033,716
Market cap211.243B
Beta (5Y monthly)0.73
PE ratio (TTM)N/A
EPS (TTM)N/A
Earnings dateN/A
Forward dividend & yield2.08 (7.24%)
Ex-dividend date08 Jan 2021
1y target estN/A
  • Bloomberg

    AT&T Is Sued by SEC Over Information Disclosed to Analysts

    (Bloomberg) -- AT&T Inc. and three of its executives were hit with an unusual lawsuit by federal regulators claiming they selectively disclosed nonpublic information about the company’s finances to Wall Street analysts.The suit, by the Securities and Exchange Commission, is a rare claim that a company violated Regulation FD, failing to disseminate material information widely.The complaint, filed Friday in federal court in New York, alleges that in early March 2016 the company and executives Christopher C. Womack, Kent D. Evans and Michael J. Black learned that first-quarter revenue was expected to fall short of analyst estimates because of a larger-than-expected decline in smartphone sales.So the three made private calls to analysts at about 20 firms, disclosing information that included its internal sales data and the impact on revenue, according to the SEC. The analysts then reduced their revenue forecasts, the agency said. It said the point of the calls was to avoid a revenue miss for the company.AT&T called the allegations “meritless.”Level Playing FieldAccording to the agency, AT&T’s chief financial officer told the company’s investor relations department to “work the analysts who still have equipment revenue too high.” The department’s director then told Womack, Evans and Black to talk to analysts one by one about their estimates and “walk the analysts down,” or get them to reduce their forecasts, the SEC alleged.Read More: The Second Breakup of Ma Bell: AT&T CEO Pursues Giant Asset Sale“Regulation FD levels the playing field by requiring that issuers disclosing material information do so broadly to the investing public, not just to select analysts,” Richard R. Best, director of the SEC’s New York Regional Office, said in a statement. “AT&T’s alleged selective disclosure of material information in private phone calls with analysts is precisely the type of conduct Regulation FD was designed to prevent.”AT&T said in a statement that the suit “represents a significant departure from the SEC’s own long-standing Regulation FD enforcement policy and is inconsistent with the testimony of all who participated in these conversations. Tellingly, after spending four years investigating this matter, the SEC does not cite a single witness involved in any of these analyst calls who believes that material nonpublic information was conveyed to them.”The company said it “maintains the highest standards of ethics and compliance” and looks forward to “having our ‘day in court’ to demonstrate conclusively that our investor relations employees complied with Regulation FD, and that the allegations in the SEC’s complaints are meritless.”Read More: AT&T Is Said to Seek $14 Billion Loan From Banks for 5G AirwavesAccording to the SEC, the object of the phone calls was to get enough analysts to do so that the consensus revenue estimate would decline to the level AT&T expected to report to the public. That way, the company wouldn’t have a revenue miss, which would have been its third quarterly miss in a row, the agency said.Neither the CFO nor the director of investor relations was named as a defendant in the case.(Updates with details, comment and context starting in fourth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • Motley Fool

    Why Did Warren Buffett Sell Wells Fargo and Buy Verizon?

    We recently got a glimpse at Berkshire Hathaway's (NYSE: BRK.A)(NYSE: BRK.B) stock portfolio as it stood at the end of 2020, and there were a few moves that surprised many investors. Two in particular are Warren Buffett's continuing disposal of Berkshire's once-massive Wells Fargo (NYSE: WFC) investment, and the decision to put billions of dollars to work in telecom giant Verizon Communications (NYSE: VZ).

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    Yahoo Finance

    Here are the retailers that have been raising wages

    A round-up of retail names that have raised wages.